Tagged: loan requirements

Alternative and Business Solution Small Business Loans

Alternative and Business Solution Small Business Loans, and provide loans directly to the borrowers. Instead, SBA provides you assistance in this case by acting as your guarantor. The SBA guarantee also provides the banks the assurance that the loan would be repaid on time. they work in partnership with various private-sector lenders, community development organizations and micro-lending institutions to provide these loans. In the lending process, they serve the purpose of setting the terms and conditions and regulating the loans. Small businesses are more in need of loans than the established ones. The simple reason for this being the fact that they are starting a new journey and lack adequate money to make investments. Hence, it would be extremely difficult for them to secure loans at high interest rates. The SBA, unlike banks and other conventional lending sources provides loans to business owners at lower interest rates, making it easier for them to repay the loans. Unlike the banks, the SBA does not check your credit records before providing the loans. This means, you can avail these loans even with poor credit records that include bankruptcy, arrears, insolvency, IVA and more. Continue reading