SBA Loans ‘ Small Business Administration Loans
Independent Bank supports the growth of businesses in its local communities through SBA lending. The SBA’s primary lending program – the 7(a) Loan Program – guarantees as much as 85 percent of loans up to $150,000 and 75 percent of loans of more than $150,000. Small Business Administration (SBA) loans can include construction/permanent commercial financing.
Private sector lenders finance half of the cost of the project, with the business kicking in 10 percent out of pocket. SBA-backed loans go to firms that might not otherwise obtain financing on reasonable terms” — a loose standard that permits the government to allocate capital according to a decidedly vague definition of the public interest.
One of the most popular uses of SBA loans is commercial mortgages on buildings occupied or to be occupied by small business. Small Business Association is a federal government agency that provides assistance to help start, build, and grow businesses. Size Standards deals with the fundamental question of what the numerical definition should be to define small businesses, industry by industry, to determine what businesses are eligible for SBA programs.
Laura has received several small contracts with SUNYs and her Bridge to Success loan will catapult her business to the next level. And once again the program faced a little schoolyard bullying, yet this time from the Bush Administration. This is done by overseeing the establishment of small businesses and ensuring that the enterprises have access to loans from lending institutions.
Personal loans and business credit cards are also decent options for startups because approval is based on personal credit score rather than business history. When you have strong personal credit and a young business with a lot of unpaid customer invoices, BlueVine and Fundbox are good financing options.