Tuesday, 30 May 2017

Information and commentary for the small business banking industry

The SBA – an alternate finance solution

04 May

If you’re an SBA lender, you’ll be aware of the application process and how tedious it can be. If you’re steering a small business customer towards one of the SBA’s various loan programs, it’s important to help them be as prepared as possible, so that the application process is less of a minefield.

But what loan program to choose? Most people are aware of the 7(a) program and it’s the one most often applied for, but it’s not necessarily the most appropriate. It’s a good idea to sit your small business customers down and go through the various loan programs – Microloan, Exporting Loans, Disaster Loans and the CDC/504 Loan. They’re all different, all designed to assist small businesses at different times and for varying purposes.

Once you’ve decided on the best one to suit your small business customer, there’s much you can do to help make sure the application process goes as smoothly as possible. The below article looks at what the SBA is doing to help small businesses – it’s a good article to share with your customers.

Read the full article at: succeedasyourownboss.com

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