The Small Business Administration (SBA) is a government program that allows lenders to offer business loans for start-ups, acquisitions, expansions, refinances, and working capital with values up to five million dollars.
While the SBA does not fund loans directly (except for disaster relief loans), it covers a portion of the small business loan that is unable to be fully repaid in the event of a default. Business owners who may not qualify for conventional loans may qualify for SBA loans since the government guaranty helps alleviate some risk associated with starting a business.
Our lenders have a “Preferred Lender” status with the SBA. This means they can make final credit decisions on SBA-guaranteed loans, instead of submitting them to the SBA for official approval, which makes the process quicker.