What is an SBA Loan?
In Summary an SBA Loan is:
- - Like regular loan for businesses
- - Long term rather than short term debt
- - Obtained from a private lender (not from the government)
- - Cheaper than a regular loan because if you default the SBA will pay off some of the debt for you
What are the qualification criteria for SBA Loans?
That depends on which specific loan you're getting and that depends on the following factors:
- - What your business size is
- - If you qualify for any special aid
- - How quickly you want the money
Generally it's safe to assume that you need to have 620 + Credit Score and make over 150k per year. If you don't meet these criteria don't worry, we have other products for you, find out by clicking here: Aldora Products