Small company loans FAQ. What exactly is an SBA loan?

Do i have to physically guarantee the mortgage?

All business people who possess 20% or higher regarding the company must definitely provide a guarantee that is personal. Married people who collectively own 20% or maybe more for the company whenever their stocks are combined, must both give a individual guarantee.

Just just just What companies are qualified?

From a beauty salon to a retailer that is online an accounting firm—there are numerous smaller businesses which can be qualified to receive an SBA Loan and a lot of companies are eligible. Industries that are excluded include gambling, lending, life insurance coverage, religious training, mainly governmental and lobbying tasks, oil wildcatting, mining, home loan servicing, property development, bail relationship, pawn or private groups, amongst others.

Exactly what do i take advantage of my funds for?

Require equipment that is new? Could it be time for you to employ another employee? Do you need to buy or refinance commercial real-estate? Read more