What Is an SBA 7(a) Loan?

Author: External Author | | Categories: Financial Analytics , Hotel Accounting , Hotel Bookkeeping , Restaurant Accounting , Restaurant Bookkeeping , Tax Preparation

An SBA 7(a) loan is a financial tool designed by the Small Business Administration (SBA) to get money into the hands of small business owners. An SBA 7(a) loan isn't a loan directly from the SBA, rather, the SBA helps small business owners secure loans by guaranteeing a portion of the amount borrowed, capping interest rates, and limiting fees.

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Original Article Source Credits: The Balance Small Business, https://www.thebalancesmb.com/

Article Written By: Jean Murray

Original Article Posted on: 7th July 2020

Link to Original Article: https://www.thebalancesmb.com/getting-an-sba-7-loan-for-small-business-398040

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