Month: July 2024

SBA 7(A) Loans – What Borrowers Need to Know About Collateral

Whether acquiring an existing business or buying out partners from your current one, a Small Business Administration (SBA) 7(a) loan could be an excellent option, offering competitive interest rates and longer repayment terms to qualifying buyers. However, while the SBA guarantees a significant portion of the loan, collateral is usually required of the borrower. Here…