SBA Loans
Stay Competitive with an SBA Loan
Partner with a Preferred Lender
At CommunityAmerica, you are more than just another business. You’re an important part of our community, and we want to provide you with solutions that are worthwhile for you and your business. A Small Business Administration (SBA) loan can help your business grow and is designed to be flexible, with longer terms and lower down payments. One of our experienced Relationship Managers would be happy to walk you through each step of the process.
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SBA Loan FAQs
While SBA loans require a formal application, the SBA itself doesn’t lend the money directly to small businesses. Instead, CommunityAmerica makes the loan, and the SBA guarantees or “backs” the credit union in case of a loss. To get an SBA loan, work with your Relationship Manager to see if it’s the right fit for you.
SBA loan requirements are very flexible to help borrowers access the capital they need. Basic eligibility includes being a for-profit business located in the U.S., being small by definition, and not engaging in illegal activities.
Not at all! SBA loans are not just for those with challenging or no credit histories. They mainly help small businesses that need longer terms, flexible rates, or those that might lack the collateral to fully secure a loan.
The SBA does require some additional documents and certifications, but our experienced SBA lenders at CommunityAmerica can help you navigate these requirements smoothly. Most of the extra documentation can be completed electronically.
The SBA does require some additional documents and certifications, but our experienced SBA lenders at CommunityAmerica can help you navigate these requirements smoothly. Most of the extra documentation can be completed electronically.
There are no requirements for SBA loans to be constantly adjusting, or higher than their conventional counterparts. In fact, the SBA sets maximum allowable rates but not minimum ones. Interest rates are typically set by several factors, mainly based on the transaction type, transaction risk, and length of the loan.
The SBA does require some additional documents and certifications, but our experienced SBA lenders at CommunityAmerica can help you navigate these requirements smoothly. Most of the extra documentation can be completed electronically.
The SBA does require some additional documents and certifications, but our experienced SBA lenders at CommunityAmerica can help you navigate these requirements smoothly. Most of the extra documentation can be completed electronically.
