What is the Small Business Administration and what is a SBA Loan?
Established in 1953, the Small Business Administration (SBA) is a division of the U.S. Department of Commerce, created to help individuals operate small businesses in the U.S. One of the ways this agency helps small business owners is with financing through SBA loans. Specifically, the Small Business Administration guarantees loans to qualifying businesses that do not currently meet their bank’s lending criteria. If you can’t get a business loan from other sources, the SBA might be a good option. Here’s how it works. The SBA guarantees loans from commercial banks that provide the capital for the business loan. This way, the financial institution, such as The JPMorganChase Bank, will lessen the risk taken in extending the credit. Chase provides Small Business Administration (SBA) loans. Chase is also a SBA preferred lender, which means we can process your loan application faster. Chase has helped many businesses get the financing they need, even when other financial institutions have tu
