Small Business Administration

Small Business Administration (SBA) Loans

The U.S. Small Business Administration (SBA) is a federal agency that helps entrepreneurs manage their businesses and gain access to capital. SBA loans have some of the lowest interest rates available, but usually require strong personal and/or business credit.

Credit Score Requirements: 
Good
Interest Rates: 
Low
Quick Overview
Features: 
  • Lowest down payments
  • Longest payment terms
  • Reasonable interest rates
  • Suitable for wide range of business purposes
  • Multiple programs available
Things to consider: 
  • Lengthy paperwork
  • Longer approval times
  • May require collateral
  • Strict acceptance criteria
  • May be restricted from taking on another loan

Guest Column: How the feds have aided small entrepreneurs

Just last week I said goodbye … again. This time, at the America East Lenders Conference in Philadelphia, I looked into the eyes of 400 partner lenders and SBA employees and announced the pending end of my term as regional administrator for SBA Mid-Atlantic. One last time I recounted the amazing work we’ve all done together over my four years with the agency, and the seven-plus years the Obama administration has spent supporting small businesses that are supporting our economy.

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