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End of Federal Shutdown Unfreezes SBA Loan Process

The 16-day federal shutdown is over, which means that furloughed workers at the U.S. Small Business Administration and other agencies are coming back to work. That’s especially good news for small companies who are applying for SBA-backed loans. Because of the shutdown, there was no one at the SBA to process the paperwork on new applications. As much as $100 million in loans per day may have been held up…

Increasing Access for Entrepreneurs

The SBA offers a range of lending programs and procurement services. For owners ready to expand their businesses, the SBA offers management and technical assistance, business planning, financing, access to federal contracts and more. Loan Programs The 7(a) loan program guarantees loans to small businesses that cannot obtain financing on reasonable terms through other channels. When a small business applies to a lending institution for financing, the lender reviews the…

5 Tips for Navigating SBA’s Loan Process

Learn how to apply for government-backed business loans.In the market for a business loan? Heard about SBA loans but not really sure how they work or how to go about applying for one? The following are common questions that small business owners have about SBA loan programs and the loan application process. 1. How do SBA loans work? While the SBA does offer numerous loan programs to help small business…

The Dos and Don’ts of Securing a Small Business Loan

Be prepared, and make sure your ideas are viable. So you have a big small business idea? Something you’re passionate about, something you’ve always wanted to do and something you believe is viable? The only problem: You don’t have the money to make it happen. That’s where community banks and loan officers come in. We’re here to help. Here are a few tips that can help you get the loan…
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