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Understanding SBAs and their Requirements

Updated: Nov 1, 2023

The Small Business Administration (SBA) loans have long been a cornerstone for budding entrepreneurs and established businesses alike. These loans, backed by the U.S. government, provide favorable terms that can be pivotal for a business’s growth trajectory. But what are the specifics of SBA loans, and are they accessible to everyone?

Key Features of SBA Loans:

  1. Favorable Repayment Terms: With extended durations, businesses have more time to repay, easing monthly financial burdens.

  2. Lower Down Payments: This feature particularly benefits startups and smaller businesses, reducing the initial capital barrier.

  3. Variety of Loan Options: Whether you're seeking financing for disaster recovery or general business growth, the SBA offers a range of loan options.

SBA Loan Requirements:

To qualify for an SBA loan, businesses typically need to meet certain criteria:

  • Demonstrated need for the loan

  • Sound business purpose

  • Owner's equity investment in the business

  • Able to show a profit the last 12 months

  • Use of alternative financial resources, including personal assets, before seeking financial assistance

  • Ability to repay the loan from projected operating cash flows

  • Must be a Small Business, as defined by the SBA

But here's the reality: not every business will meet these requirements. So, what happens if your business doesn't qualify for an SBA loan? Do you halt your growth ambitions?

Absolutely not. At Quantifi, we understand the diverse financial landscapes businesses navigate. If the traditional SBA route isn’t accessible to you, we offer alternative lending opportunities tailored to fit your unique needs. Every business has the potential to grow, and we're here to ensure financial constraints aren't a hindrance.

To explore both SBA and alternative financing options, sign up for a no-risk qualification check with Quantifi. Your business’s growth journey is our priority.

– The Quantifi Team

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