SBA Loans and Other "Special Programs"
To view the accompanying slides, visit: https://www.financialpoise.com/financialpoisewebinars/on_demand_webinars/sba-loans-and-other-special-programs-2/ Series: BUSINESS BORROWING BASICS 2016 A new or expanding business may want to consider looking to the United States Small Business Administration (“SBA”) for help with financing. The SBA participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan. Such programs are not direct loans by the government. Rather, they involve a government guaranty, which typically covers between 75 and 90 percent of the loan, thus eliminating much of the risk for the actual lender and enabling the lender to offer more favorable to borrowers. The downsides are that additional paperwork needs to be filed, extra fees need to be paid, and it takes longer to get a decision. This webinar focuses on two such programs (504 and 7a), and touches on some other alternatives borrowers have to leverage the government’s support of small businesses. Principal Audience: Attorneys and Advisors, Business Owners and Executives Partner: ChamberWise, West LegalEdcenter
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