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GETTING AN SBA GUARANTEE FOR YOUR BUSINESS LOAN

Written by: Tyler Hicks

Article Overview: Why Seek an SBA-Guaranteed Loan for Business?

GETTING AN SBA GUARANTEE FOR YOUR BUSINESS LOAN

GETTING AN SBA GUARANTEE FOR YOUR BUSINESS LOAN

THE SMALL BUSINESS ADMINISTRATION (SBA) guarantees business loans up to approximately $1,000,000, or 75% of the total loan value, whichever is less. The average size of an SBA-guaranteed loan is typically under $500,000 and the average maturity (length) of such a loan is about 8 years. You should consider an SBA-guaranteed loan for a business because:

1. With a guarantee, any loan is easier to get; why turn away from the excellent programs that
SBA offers when they can make your life easier?

2. SBA-guaranteed loans can be obtained for machinery, equipment, general working capital,
a revolving line of credit, and a variety of other worthwhile business uses

3. Your local bank can make an SBA-guaranteed loan to you. This means you don't have to go much
beyond your home town to get the money you need.SBA is dedicated to helping small businesses. You
can get lots of free help from SBA through the mail, from the Internet, and by telephone. Key numbers and addresses are given below.

4. All SBA programs and services are provided to the public on a nondiscriminatory basis--this means
that you need not worry about being turned down for your loan for a reason such as race, gender,
religion, etc. For free information, check the following:

The SBA has offices located throughout the United States. For the one nearest you, look
under "U.S. Government" in your Internet or paper telephone directory, or call the SBA Answer Desk at (800) 8-ASK-SBA. To send a fax to the SBA, dial (202) 205-7064. For the hearing impaired, the
TDD number is (704) 344-6649.

If you’d like to access SBA electronic public information services, you can call the following:


(800) 697-4636 (limited access)

(900) 463-4636 (full access)

(202) 401-9600 (D.C. metro area)

Internet: SBA Web sites include the following:

SBA Home Page: www.sba.gov
U.S. Business Advisor: www.business.gov

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Article Tags: business advisor, business loans, home page www, loan value, local bank, machinery equipment, mail, metro area, nondiscriminatory basis, public information services, race gender, revolving line of credit, sba answer desk, sba guarantee, sba programs, sba web, small business administration, tdd number, working capital, worthwhile business



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