SBA LOAN

What is a SBA Loan?

An SBA loan is a small business loan that is backed by the US Small Business Administration. This means that the SBA (organization) insures or guarantees a percentage of that loan. By insuring the SBA loans, the government gives every Bank/Lender a chance to loan money with a stronger incentive to small businesses. SBA 7(a) term loans are one of the best ways to get a business loan and actually contribute to the growth of the economy.

If you are wondering whether you are eligible for SBA loans, you should be a small business as defined by the SBA, one that is doing business in the US and one that operates for profit. Moreover, you should have a reasonable invested equity and if necessary, willing to pledge some personal assets.

The Benefits of SBA Loans

• Increased profitability – Their significantly lower interest rates and therefore potentially increased profitability
• Future credit growth – Will make you more liable for future larger loans
• The most “balanced approach” to financial security – They represent the happy medium between traditional bank loans and alternative financing
• Helps acquire more resources – Ensures and secures business continuity regardless of the business needs
• Tailored – They are tailored to the (low) net worth of small business owners which makes them easy to be obtained

When reviewing loan applications, the SBA considers the following to be particularly competitive candidates:

Colopy Corp works with SBA loans with 10 to 25-year terms and 7-year lines of credit. Loan amounts vary, maxing out at $15,000,000. Lines of credit range from $250,000 to $5,000,000. SBA loans and credit lines have fixed or variable rates.

If you are wondering whether you are eligible for SBA loans, you should be a small business as defined by the SBA, one that is doing business in the US and one that operates for profit. Moreover, you should have a reasonable invested equity and if necessary, willing to pledge some personal assets.

If you have not filed for bankruptcy in the past three years, have a FICO score upwards of 600, and your business has been in operation for at least 3 years, you may qualify for a SBA loan. Keep in mind that these are not standard qualifications across all available loans. Colopy Corp is committed to serving businesses of all sizes and financial situations. We will find the right government-backed SBA loan for you.

Are you in for a long-term loan that works for you? Contact us at Colopy Corp and learn how an SBA loan can benefit your business in the future!