SBA Loans

Fast Approval for SBA Loans in Less Than 7 Days!

At Fast Capital 360, we offer SBA loan approvals in less than 7 days. Feel free to give us a call at (800) 735-6107. If you are looking for fast approvals on SBA loans we can help your small business, give us a call today! We want to make sure a SBA loan would be right for your small business.

Another type of financing option that small business owners may be familiar with are Small Business Administration (SBA) Loans. The SBA is a government resource aimed at improving the U.S. economy. It offers new entrepreneurs and existing small business owners counsel, connections, and opportunities to help support small businesses.

One of the most popular aspects of the SBA is its loan program, which provides guarantees to banks and lenders when they finance small businesses. The SBA guarantees the loans will be paid back even if the business defaults. This ensures lenders are protected, which allows them to take a risk on small businesses.

For new entrepreneurs with little experience or business credit, the SBA loan program is one of the most accessible means of securing needed capital. Without the SBA’s guarantee, many lenders would not consider working with these startups. SBA loans also help businesses without enough collateral to obtain a traditional commercial loan.

Thinking About Applying for a SBA Loan?

However, while the SBA loan is a positive program, it may not be right for every situation. Here are a few that you should consider when you are thinking about applying for an SBA Loan:

  • What are their interest rates like? SBA loans can have higher interest rates than traditional bank financing options. Because the SBA has guaranteed payment to the lender, some will charge higher interest rates. There is no incentive to work with the applicant because they know they will get paid, even if the business defaults.
  • Is there a lot of paperwork and time investment? Securing this type of loan does require that you work with the government; this can take time and a lot of paperwork.
  • Is there a personal guarantee required? SBA loans necessitate the personal guarantee of a business owner with 20 percent or more interest in the business. In many cases, the SBA will secure a loan with any property owned by the business owner.
  • Is your credit rating good enough? Even though SBA loans open up opportunities for small businesses that might not otherwise be able to obtain funding, they still demand good credit. If the business does not have an established credit history, the business owner’s credit history will be considered.

The choice, of course, is yours. Do your research. Evaluate what is right for you. At Fast Capital 360, we suggest you investigate options other than MCA and SBA loans. We can help you explore the options that are right for you so that you have more money to invest in your business.

For more information on why Fast Capital 360 is the best choice for your small business, contact us today at 

5 minutes stands between you and getting the funding that you need.