The application process consists of a one-page application form and supporting documentation. The program focuses on the strength of character and the credit of the applicants. Personal guarantees of applicants are also required. The SBA charges a fee based on the guaranteed portion of the loan. Fully-amortized financing No Balloon Payment.
Loan is paid off at the end of the amortization period.
Longer terms than conventional financing Lower Payments. You repay the loan with smaller payments over a longer period of time. Potentially 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.