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Taking out a loan can be overwhelming. At SmartGreen, we make the process clear and easy so you can get back to business. What is an SBA Loan? The Small Business Administration (SBA) provides a guarantee to national lenders for the money they lend to small business owners. Although the SBA does not directly provide loans, the guarantee from the SBA... minimizes the lenders risk of repayment by promising to pay back a portion of the loan if the business owner defaults on the terms. By providing such a guarantee, the SBA allows owners and entrepreneurs who may not qualify for traditional loans the opportunity to fund their business with capital and reasonable terms. What can I use my loan for? The SBA program allows for a maximum loan amount of $5,000,000, with an average loan amount of $371,628 in fiscal year 2015. As part of the application process, each applicant must specifically define the use of the loan proceeds, which must comply with the eligible uses listed below. *Additional restrictions may apply pursuant to the guidelines identified in the SBAs Standard Operating Procedures. Contact one of our representatives for additional information. What do I need to qualify? Although the SBA guarantee allows lenders to offer reasonable terms to small business owners, there are still requirements for applicants to be approved for funding. For existing businesses, each applicant must satisfy the criteria identified below.Read More