The small company management (SBA) is primarily known for its startup loan programs. Two SBA programs being more startup-friendly will be the Community Advantage Program together with Microloan Program. Both programs target new or underserved companies. All SBA loan types can be utilized for startups, many tend to be more difficult to be eligible for in the event that you don’t have a current company.
SBA Business Company Loan Expenses
The costs that are typical with SBA startup loans are:
- SBA loan rates of interest: 7% to 11per cent
- Origination fees: 0.5% to 3.5%
- Packing costs: $2,000 to $4,000
- SBA guarantee charges: 2% to 3.75per cent