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What You Need to Know About SBA Loans

Posted in: Business Banking, The DFB Difference

What You Need to Know About SBA Loans

You have the dream and the plan — now, all your small business needs is funding. Typical lenders may put up frustrating roadblocks to getting the money you require to grow. That’s why Dream First Bank uses the Small Business Administration (SBA) programs to help get you the financing you need on your terms. SBA Loans approach your small business as an enterprise with potential, not simply a short-term money generator.

Interested? Here’s the run-down on how the SBA furthers our mission of Making Dreams Come True:

Low Upfront Costs

For many, the loan process begins with finding significant collateral. This requirement ensures that the bank avoids losing its investment if your business stumbles.

SBA Loans take a different approach. Instead of focusing on how much money can be made right now, these loans consider the projected profitability of your brand and adjust accordingly. This means significantly lower down payments and more resources invested in your business. With SBA-backed loans, the government guarantees repayment, meaning that banks are willing to take on more risk when lending.

Competitive Interest Rates

Low up-front payments with no haggling might sound too good to be true. You may be wondering if the catch is hiding in exorbitantly high interest rates.

There’s no need to worry! A Small Business Administration Loan, like any other loan, considers the type of loan you are applying for, what the loan is going towards, your credit history, and other factors before determining your specific interest rate. Some SBA loans even have rates as low as 3.75%!

Get Quick Answers

Your dreams can’t wait, and neither should your financing. SBA Loans are coordinated with local lenders and investors, so you can work with people who understand your community and your needs. Paired with our Guaranteed Turnaround program, you’ll never be left wondering whether the money you need will be there. We’ll get your small business running at the pace that’s right for you.

The Bottom Line

An SBA loan may be just the thing your business needs to springboard into the next phase. From low down payments to fair interest rates, Small Business Administration Loans place the possibilities of your business above the gains of predatory lenders. For more information, contact Dream First Bank to speak with an experienced lender about how we can keep making dreams come true for you.

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