The most recent
"Finishing in the top 10 for two consecutive reporting periods shows that we're achieving results as far as funding start-ups and small businesses in the
The 7(a) loan program is one of the SBA's primary lending programs to help finance existing small businesses and start-ups that are not able to obtain business loans through traditional lending channels. The 7(a) loans are the SBA's most basic, most commonly used, and most flexible type of loans.
The name of the program derives from section 7(a) of the Small Business Act, which authorizes the SBA to provide business loans to American small businesses. While loans are not provided by the agency directly, the SBA does guarantee a portion of loans made and administered by commercial lending institutions.
"These loans guarantee financing for a variety of general business purposes," explained Ehst. "For example, they may be provided for machinery and equipment, working capital, furniture and fixtures, or for the purchase or renovation of buildings or new construction. Making these loans accessible to small business owners is an ongoing focus of our bank."
Keywords for this news article include: Financial Services, Government Agencies Offices and Entities.
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