Even if Los Angeles and Southern California businesses are experiencing positive financial trending, many are finding that credit is still tight.
It is not a good feeling to hear from your bank that your conventional business loan has been declined, but there are attractive financing alternatives in the form of government-guaranteed loans backed by the Small Business Administration (SBA).
Reviewed in this article…
…are how SBA loans work, differences between conventional and SBA loans, the types of bank approval roles, and descriptions of SBA 7(a) and 504 programs.
A close look at various SBA programs can reveal financing opportunities that might not be available with a conventional bank loan.
Executives considering business loans can benefit greatly from talking with a CFO services professional with a track record of successfully applying for and securing SBA loans.