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Get an SBA Loan to Finance Your Startup



SBA (Small Business Administration) is a 7(a) loan program. Out of all the different financing options which are available, the SBA loan program is amongst the very best.

SBA 7(a) loan program is focused on helping small business owners with a bank loan when they need financial assistance.

Getting your business started with bank financing is a very good way to start out if you are able to get it. It’s recommended that you check out this 7(a) loan program when you’re finding ways to finance your new business.


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How the 7(a) Loan Program Works

  1. First, you need to apply at your bank for a business starting loan.
  2. If your banker does not recommend it, you should ask for an SBA 7(a) loan.
  3. You have to fill out the 7(a) loan application form. You’ll also need to provide a business plan.
  4. The bank will then check your application form and the business plan. This will help them decide whether or not you are eligible under the SBA guidelines, for a start-up loan.
  5. Once you have been approved, your bank will receive a loan guarantee from the SBA. SBA guarantees up to 85% of loans that are $150,000 dollars or less.
  6. To get the loan guaranteed, the bank must accept the SBAs guidelines. Loan terms with SBA are longer and the interest will be lower than anywhere else. Whether or not you have started a business before is not irrelevant.
  7. You will be happy because of the fact that you’re getting the financing for your business. Your bank is also happy because 85% is guaranteed so they are not running a high risk by lending you money. It’s a satisfactory end result.😍


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