SBA and Bank Term Loan Updates

SBA and Bank Term Loan Updates

Some business owners may have received a PPP loan. However, the emergency funding might be running out and additional financial support is still needed.

Capital for Business receives regular questions from business owners about the best fit funding for their business. Here are details about two options available from banks in the Capital for Business network.

SBA Loan Details

SBA loans are considered the gold standard for small business owners who want to expand. With the wide use of funds, SBA loans can be used in a multitude of ways. As a result of the CARES Act, the SBA will pay 6 months of principal, interest, and any associated fees on any eligible SBA 7(a) loan disbursed prior to September 27, 2020.

Bank Term Loan

In addition to SBA loans, banks in the Capital for Business network are funding short-term, fixed-rate loans with stable monthly payments. Documentation requirements for a Bank Term loan are significantly less than an SBA loan and fund faster.

It’s a good time to connect with Capital for Business to explore funding options during the coronavirus pandemic and economic shutdown. To start an application process please visit https://capitalforbusiness.net/

Feel free to reach out to Capital for Business with any questions.

 

 

 

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