What Is the Small Business Administration? The SBA is a government agency that guarantees certain loans for small businesses. This makes funding more accessible for entrepreneurs because it minimizes lenders’ financial risk. SBA loans may feature either a fixed or a variable interest rate and can vary greatly in amount. Developing companies may be able to take advantage of 7(a) loans, 504 loans, and microloans. How Could an SBA Loan Benefit Your Business? Rest assured that small business loans are compatible with companies in a long list of industries, including healthcare practices, hotels, auto repair shops, and gas stations. On top of that, you may be able to use your loan in a variety of ways:

• Refinancing or consolidating debt
• Building or purchasing new premises
• Renovating current premises

Additionally, many entrepreneurs use their loan to finance equipment. If you use printers, computers, medical devices, manufacturing gear, or some other kind of equipment, your funds can help you stay fully stocked on the items you need. Which Loan Is Right for You? At WCK Financial Lending, we offer two main kinds of small business loans. The first is known as an existing business acquisition loan. Your established company can qualify for this option by demonstrating strong management and cash flow. These loans have several advantageous features:

• Prequalification in as little as 48 hours
• LTV of as much as 80%
• 15-year terms
• No prepayment penalties
• Amortization

For other financial needs, we offer a more generalized type of loan. This loan is similar to an existing business acquisition loan in many ways, though there are a few key differences:

• Fixed and variable rates available
• LTV of as much as 90%
• 25-year terms
• Amounts of as much as $5 million