are sba loans personally guaranteed

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  • Does the SBA guarantee loans for small business owners?

  • This is when the SBA can be helpful, as it may guarantee bank loans for small business owners who have inadequate collateral鈥攖he agency, however, may require a personal guarantee instead. 1 2 While SBA guaranteed loans can be a valuable resource, they are not free.

  • What is an SBA guarantee fee?

  • An SBA guarantee fee is the price you pay the government agency to guarantee your loan. In other words, it鈥檚 the cost of being a small business owner who doesn鈥檛 have (or doesn鈥檛 want to risk) collateral. There are some small businesses that may not require large amounts of money to start up or grow.

  • What is the Small Business Administration guaranteed loan program?

  • Lack of funding is a major problem for many entrepreneurs, which is why the Small Business Administration (SBA) started up its guaranteed loan programs. These programs are intended for small business owners who need cash for a startup, an expansion, or other business undertakings.

  • What are the interest rates for SBA loans?

  • Interest Rates – SBA sets a maximum rate on its guaranteed loans. The rate may be either fixed or variable, as determined between the lender and applicant. The rate is pegged to the prime rate as published daily in the Wall Street Journal. The formulas are: Prime + 2.25% for loans $50,000, maturity 7 years.

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