A loan is a type of debt. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments,
The U.S. Small Business Administration (SBA) assists small business owners with starting and expanding their businesses by helping them get loans through private banks and financial institutions. SBA offers a number of low-interest loan programs for business owners who may be having difficulty getting traditional bank loans.
To apply for an SBA
The following forms and documents are required when applying for a loan that is guaranteed by the U.S. Small Business Administration.
SBA does not provide direct loans. You will need to contact your local bank or lending institution to obtain an SBA loan. Your lender will submit your loan package to SBA.