How many years can you finance an SBA loan for?
I am interested in getting an SBA loan for my business. Is it possible to borrow lets say $500k on an SBA loan and finance over 30 years. And what would the typical interest rate be?
How many years can you finance an SBA loan for?
The SBA is a guaranteer of loans. They don't actual give the loan. Typically to borrow that kind of money, your business would have to be operating for a least 2+ years. You can get a microloan for up to $50K. The APR is decent and repayment time depends (7-10 yrs). I am in the process of trying to get a microloan, it requires less, but it is a great way to get money for your start-up. Good luck!
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