The Small Business Administration loan is a product that not many people know about, but it can help you to purchase a commercial property with a business for as little as 10% down. In some cases, the loan can be 100% financed.
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 equipment, refinancing other debts, buying real estate, or even funding the acquisition of other businesses.
SBA loans are favored by many because they have the lowest down payments, the longest payment terms, and they’re suitable for many different business purposes. However, these loans sometimes require collateral and paperwork can become lengthy.
This loan is great for expanding your existing business or funding new business ventures.
The most common misconception about the SBA is that the agency lends money to businesses. The SBA doesn’t directly lend money to businesses, instead, you get SBA loans from a bank that participates in SBA financing. This loan is great for expanding your existing business or funding new business ventures.
There is a very good article at Fundera.com to explain these loans in further depth, or I know professionals that can speak with you personally about the merits of these loans.
Until next time - stay safe and stay happy!
