Small business concerns

The SBA is in place to help small businesses to meet and overcome the problems they face that keep them from being successful. The SBA has created a number of loan programs to help address the needs of small businesses. SBA wants to encourage economic development, and job creation in communities, especially underserved communities.Small business concerns are addressed with the following loans:

Real estate- SBA 504 loan programs are set up to offer long-term financing to refinance commercial mortgages that were made before the recession, when property values were inflated. It helps small businesses to consolidate debt, to get better terms for the loan. There are eligibility requirements, but the SBA can help you refinance a bad loan, in order to help you avoid foreclosure on your commercial property.

Underserved communities- SBA 7 (a) loans are all created to serve underserved communities, women, minorities, small businesses in rural communities, etc. These SBA loans are offered at low rates, and good terms, with great guarantees from SBA to help small businesses get loans. There are a number of different options for loans for underserved communities, as well as contracting opportunities for underserved communities, such as Women-owned businesses.

Exports- SBA 7 (a) loans are created to help encourage small businesses to expand into exports. These loans are specifically to be used for exporting. In addition to the loan, SBA provides tutorials, business plan preparation, marketing preparation, and other tips for exporting.

Modernize- SBA 504 loans are created to help small businesses obtain major fixed assets, expand their business, and modernize their business. These SBA loans can be used to purchase real estate, buildings, machinery, equipment, inventory, etc.

Disasters- SBA disaster loans are set up to help businesses who suffer physical or economic injury from declared disasters to rebuild and recover from the disaster. The money can be used to repair or replace damaged items, and you can get a loan for 20% additional in order to take measures to prevent damage from future possible disasters. If it is economic injury, the money can be used to cover financial obligations that you would have been able to meet had you not suffered a declared disaster.

Financial hardship- SBA ARC loans are set up to help address financial hardship. These are temporary loans, with disbursements for 6 months, in order to help small businesses who are suffering a simple financial setback get back on track, and meet existing loan obligations. The business has to have been profitable in the past, and have projections for future profitability. They also can't be severely delinquent on their existing loans.

Small business concerns are real, and the SBA does what they can to help meet the needs, and get financing to improve cash flow through a variety of loan programs, 504, disaster recovery loans, ARC loans, 7 (a) loans, innovative research loans, and more.