How are the actual loan maturity dates determined?
Jim Hammersley: The loan maturity dates are based on the use of proceeds of the loan. One of the two benefits of the SBA program is the loan can go for up to 25 years if real estate is involved. Even on items such as working capital and other typical short-term type uses of credit, the SBA loan can go for up to seven years. That is a very valuable thing to the small business owner because the longer term can reduce the payment and make the loan more affordable. Ron Johnson: If your small business is ready to expand, check out SBA’s financing information and other advice at www.sba.gov. SBA also has district offices serving every state and U.S. territory. Counseling and training services are provided by SBA’s resource partners such as SCORE, with more than 10,000 counselors nationwide. Over 1,000 Small Business Development Centers and more than 90 Women’s Business Centers. SBA – helping small businesses start, grow, and succeed.
