Decide whether you want funds for expansion, or to fund your operational cost.
As per SBA, eligibility is primarily based on what the business does and in which industry your business operates. Note: Business Must Meet SBA Size Standards.
Before deciding on repayment, you must look at your business financials first and then decide how much you can afford to repay the loans.
Collateralization is a process of securing a loan where the lender will seize the assets if the borrower fails to repay. There are two types of collateral 1) Real Estate 2) Business Equipment
There are three major types of loans 1) Term Loans Best For: Large Enterprise 2) SBA loans Best For: Small Business 3) Short-Term & Long-Term Loans Best For: New Businesses
Congrats! You've made it.