Here’s what you need to know about SBA Loans
If you’re a small business owner looking to grow or expand your operations, there are several ways you can secure financing to get the capital you need. If you’re looking for a loan specifically tailored to suit the needs of small businesses, you may want to consider a Small Business Administration, or SBA loan. With a Small Business Loan, you can get the capital you need with your small business in mind. Here are a few things you should know before you get started with your SBA loan.
What SBA Loans Finance
It doesn’t matter if you’re looking to renovate your existing space, build new, or refinance an existing loan, an SBA loan may be a good option for you. Here are some of the types of businesses that Bizoloans works with for SBA loans.
- Hotels and Motels
- Gas stations
- Automobile repair shops
- Car washes
- Veterinary clinics
- Car dealerships
- Single-purpose buildings
- Child care operations
Bizoloans associated Lenders also finance specific equipment that your business needs, including:
- Heavy equipment
- Diagnostic equipment
- Medical equipment
- Printing machinery
- Laundry or dry cleaning equipment
- Manufacturing machinery
To determine whether your business is a good fit for an SBA loan, there are a few factors that need taken into consideration. One thing looks for is your current cash flow and how you manage your business operations. If, after a thorough look at your business, we determine you’re a good fit for an SBA loan, you could get prequalified in as little as 48-96 hours.
Establish Payment Terms
One of the benefits that make SBA loans such an attractive option for small business owners is that these loans often come with loan amounts up to $5 million, flexible repayment terms up to 25 years, and competitive rates. You also won’t be penalized if you pay your loan off early. Get Started
If an SBA loan sounds like a viable option for you, fill out a bizoloan application today to get the processed. In very little time, you may be able to secure the financing your business needs to continue to grow and succeed.