There are many options for financing your business. Two of the most common are conventional and Small Business Administration (SBA) loans. In some cases, borrowers apply for a conventional loan, but don’t meet the lender’s criteria. When that happens, it doesn’t mean the borrower can’t obtain financing, it just means the borrower needs an alternative source of financing.
That’s where an SBA loan could help. SBA loans are government-backed loans that offer borrowers an alternative to conventional loans.
Here are some key differences between conventional and SBA loans:
So the next time you’re looking for a business loan, consider applying for an SBA loan. For more information on applying, contact Kevin, the SBA Executive, at Kevin.Riffey@bankofcentralflorida.com.
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