SBA loans, such as 7(a) and 504 loans, offer small businesses access to lower interest rates, but they come with comprehensive eligibility requirements that vary by lender.
While SBA loans provide crucial funding options for small businesses, potential applicants must navigate stringent eligibility criteria that can differ significantly between various loan types.
Understanding the distinctions between SBA loan types, like 7(a) and 504 loans, is key for startups to determine the right funding path for their needs.
The SBA does not issue loans directly; instead, it guarantees loans made by SBA-approved lenders, which can impose additional eligibility restrictions.
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