There are few guarantees in small business, but SBA loans are the exception. The U.S. Small Business Administration’s 7(a) loan program gives financial assistance to small businesses, offering government-backed guarantees on the funds you borrow. As a result, SBA loans are low-risk—providing you with quick capital at a rate that will make you want to stand up and salute Uncle Sam.
*Disclaimer* SBA loans have a variable rate of Prime Rate plus 1.50% to 3.75%. Bank term loans have a fixed rate depending on loan term and applicant’s credit and financial profile.