If you have credit troubles, it can be frustrating to try and get approved for a small business loan. You may have tried applying for an SBA loan only to find out that it didn't go through. You may wonder why your SBA loan was denied, or what you should do next.
We will help you answer these important questions, so you know what to do next time you apply for an SBA loan.
What is an SBA Loan?Understanding SBA loans is the first step in learning to apply. The U.S. Small Business Administration (SBA) offers several loan programs that support small businesses and entrepreneurs by providing financing to those who may not qualify for a traditional loan on their own.
SBA loans have longer repayment terms than conventional bank loans. They serve one purpose – to help small business owners start, grow, and succ…
