How can I use an SBA Loan?
SBA Loans are one of the most critical sources of capital for American business owners. Historically, the SBA provides between 5-7 Billion Dollars worth of loans each year to US based businesses. With approximately 30% of those loans being provided to minorities, and another 28% going to women owned businesses, the SBA is a great source of capital for those who have traditionally struggled to find appropriate financing.
The most commonly used SBA loan is termed an SBA 7(a), which is the primary program for providing assistance to small business. However, there are other programs within the SBA portfolio that can be utilized for almost every purpose a qualified business owner has for capital. These loan programs and uses are described in this table.