Lp06 Assignment: Research Sba Programs

LP06 Assignment: Research SBA ProgramsNameCourseTutor’s NameDateLP06 Assignment: Research SBA ProgramsSBA has a facility that assures credit for any small business that qualifies. Approved lenders issue the loan funds and although SBA loans have strict qualification criteria, they attract interest rates that are lower than commercial rates and have generous terms. There are several categories of credit lines loans these includeThe detailed list of SBA loan programs is as followsStandard 7(a) Loan Program: This is the most popular SBA loan it is the most general loan program and applicable for the general funds requirements including inventory and establishment expenses.7(a) Small Loan:This is the small version of A 7(a) Loan; it is typically processed and funded faster than standard A 7(a) Loan but has a maximum limit of $350,000.Microloan Program:This loan is intended for micro businesses that require up to a maximum of $50,000 this loan is most suitable for working capital finance.CDC/504 Loan Program:This facility is similar to commercial real estate loan.SBA Express Loan:Express loans are guaranteed 36-hour approval turnaround time.SBA Export Express:These are express loans for businesses