Personal guarantees of applicants are also required. The SBA charges a fee based on the guaranteed portion of the loan. You repay the loan with smaller payments over a longer period of time. No Balloon Payment.
Loan is paid off at the end of the amortization period.
There's no need to tie up all your cash in the down payment. 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. Not valid with other discounts and offers and offer subject to end without prior notice. Member FDIC Software demonstrations on this site do not generate real transactions.