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The Pros and Cons of an SBA Loan



An SBA loan is a long-term, low-interest small business loan partially guaranteed by the government. This could be real estate, equipment or machinery, expansion capital, funding the purchase of another business, disaster recovery or even, in some cases, refinancing other debts.


Under the U.S. Small Business Administration’s various “SBA loan” programs, you can borrow money for nearly any business purpose—including adding to working capital, purchasing inventory or equipment, refinancing other debts, buying real estate or even funding the acquisition of other businesses.


Before you apply, understand the pros and cons of an SBA loan....


Pros

  • Lowest down payment

  • Longest payment terms

  • Relatively low interest rates

  • Used for a wide variety of purposes


Cons

  • Lengthy application process

  • Longer approval times

  • Variable interest rates may increase

  • May require collateral


To learn more about SBA loans, find out what documents you need to apply, and to submit an application visit our SBA Loan Page.

P:  1-855-LENDTEK(536-3835)     |    F:  1-855-287-7004​     |      E:  funding@lendtek.com

Lendtek provides you with easy online application services to access loans from third party lenders.

Lendtek is not a loan provider or other funding provider and does not provide actual loans or any kind of advice. Approval of an actual loan from a third-party lender is subject to a separate assessment process by the third-party lender and the loan is subject to the third-party lender's terms and conditions. Loan approval time may vary and is not guaranteed

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