Tioga-FranklinBanksUpdated on Sep 6, 2018 View more like this | Visit PHILADELPHIA, PA | Contact Tioga Savings |
Are you in need of financing to help your small business succeed? You may want to consider applying for an SBA loan. The United States Small Business Administration is responsible for enabling growth and development of small businesses. In order to do this, it has multiple programs that guarantee loans to small businesses that are provided by lending partners nationwide. It's important to know that the Small Business Administration does not make loans on its own. It's job is to guarantee a percentage of the loan, so the lending partners do not take on any risk.
In order to ensure the Small Business Administration does not lose billions of dollars, the federal agency has specific criteria that every business owner must meet in order to qualify for an SBA loan. These requirements include size, financial standing, and status as a for-profit company. Additionally, the SBA does not guarantee loans for small businesses that have access to other reasonable financing. However, a small business must still meet specific credit requirements in order to qualify.
In order to ensure the Small Business Administration does not lose billions of dollars, the federal agency has specific criteria that every business owner must meet in order to qualify for an SBA loan. These requirements include size, financial standing, and status as a for-profit company. Additionally, the SBA does not guarantee loans for small businesses that have access to other reasonable financing. However, a small business must still meet specific credit requirements in order to qualify.
