SBA loans are used heavily by banks of all sizes to finance the purchase or construction of business owner occupied real estate (ie. Many banks only offer SBA loans for this purpose. SBA-backed small business investment companies invest another $2,000 million as venture capital. SBA backing on the loan is then requested by the lender. In guaranteeing the loan, the SBA assures the lender that, in the event the borrower does not repay the loan, the government will reimburse the lending partner for a portion of its loss.
Applications are submitted to the local intermediary and all credit decisions are made on the local level. Applicants who receive the SBA loan packet should complete the forms and return the packet as quickly as possible. In some cases, depending upon the applicant’s financial situation, a referral to the Individual and Family Grant program is made immediately. Applicants for SBA-approved franchises are granted expedited loan processing when applying for financial assistance from the SBA. Please browse our broad selection of SBA-approved franchise in order to take advantage of this incredible program. Applications are submitted to the local intermediary and all credit decisions are made on the local level.