One of the most powerful funding tools available to first-time entrepreneurs and early stage companies is debt-based financing. Without a great credit history, however, getting a commercial loan from a traditional lender isn’t always the easiest thing to do. If only there was some way a startup could bring in a third-party to help secure that loan, much like getting a teenager getting their parent to co-sign on a car loan. For many entrepreneurs, the “ultimate co-signer” turns out to be the federal government in the form of the U.S. Small Business Administration (SBA).
In today’s podcast, host and business coach Tom Ryan provides an overview of the SBA’s loan program. Learn how SBA loans work, what the eligibility requirements are, how the loans can be used, and how much money they can provide. Continue reading