The Small Business Administration (SBA) is a government organization launched in 1953 to help provide support to entrepreneurs and small businesses. Contrary to what many people think, the SBA doesn’t actually loan money. The SBA offers loan programs through approved lenders to increase access to capital to small businesses throughout the US.
Approved lenders are incentivized to offer lower-rate SBA loans because the SBA guarantees a portion of the loan, reducing the lender’s risk. Conversely, you may find very high rates on traditional term loans or lines of credit because these loans are not guaranteed, and therefore lenders assume all risk and dictate the rates they want to charge.
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