Description
The Guide to SBA Loan Guaranty Programs and Guaranteed Loan Lender List for Business lists more than 75 top lenders for small business participating in the U.S. Small Business Administration’s guaranteed loan programs. Includes intermediaries and community development organizations.
The Guide also covers:
- Brief Background on Guaranteed Loans
- SBA Guaranteed Loan Fact Sheet
- Overview of SBA Loan Programs for Small Businesses
- Quick Reference Chart to SBA Loan Guaranty Programs
- Direct Links to Download Loan Application Forms for Each Program
- Detailed Descriptions of Loan Programs
If you work with business loans in any capacity, you should have this inexpensive, comprehensive guide.
THE MOST CRITICAL need of small, new and medium-size businesses is capital: that is—getting money for equipment, inventory, working capital, and real estate.
BANKS, historically, have been timid about making small business loans, because many businesses fail in their first few years of operation.
TO HELP banks and financial institutions make small business loans, Loan Guaranties (also known as Guaranteed Loans) were created.
MOST importantly, the Federal Government created the Small Business Ad- ministration (SBA) in 1953 and began making small business loan guaran- ties through numerous Federal agencies and programs, most of which con- tinue today.
GOVERNMENT AGENCIES such as the SBA, HUD, Export-Import Bank and USDA have been very generous in awarding small business loan guaran- ties. Why do they make these guaranties?
PART of the designated mission of each of these agencies is to support a healthy U.S. economy by helping small businesses and communities that have traditionally been underserved by banks. One way they accomplish this is by providing loan guaranties to financial institutions that make small business loans.
GUARANTEED LOAN DEFINITION. The financial dictionary defines a guar- anteed loan as “a loan in which a third party supports the borrower by promising to repay the debt if the borrower defaults or stops making pay- ments.”
IN THE CASE OF government guaranteed loans, a government agency promises, or guarantees, that it will repay the loan to the bank if the bor- rower defaults, or fails to repay.
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