Personal guarantees of applicants are also required. The SBA charges a fee based on the guaranteed portion of the loan. Features Benefits Longer terms than conventional financing Lower Payments. You repay the loan with smaller payments over a longer period of time. Fully-amortized financing No Balloon Payment.
Loan is paid off at the end of the amortization period.
Potential lower down payment than conventional financing Cash Conservation. There's no need to tie up all your cash in the down payment. Does not have to be fully-secured by collateral Easier Qualification. Businesses with less collateral than conventional lenders require can qualify for SBA-guaranteed loans. Business loans, including discounts and promotional rates, are subject to credit application, qualification, approval and the terms and conditions of the applicable credit agreement, including applicable fees.