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What Is an SBA 7(a) Loan?

Author: External Author | Jan 20, 2021 | Categories: Accounting , Accounting Firm , Business Accounting , Business Entity Selection , Business Tax Return , IRS Tax Problems , Personal Accountant , Rent Properties Precluded Loss Deductions , Tax Accountant , Tax Planning

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.

Original Article Source Credits: the balance, https://www.thebalancesmb.com

Article Written By: JEAN MURRAY

Original Article Posted on: December 28, 2020

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

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