To explore the options and discover how your business can begin to save, visit Ways to Save for Your Business.
The U.S. Small Business Administration offers a variety of loan programs to eligible small businesses that cannot borrow on reasonable terms from conventional lenders in the amount needed without government help. Most of the SBA's business loans are made by private lenders and then guaranteed by the agency. While it may not necessarily be easier to be approved for an SBA guaranteed loan, the guarantee will allow you to obtain a loan with a longer maturity at better repayment terms and interest rates, thereby reducing your monthly payments.
Contact your local economic development organization for further resources and for application assistance. They can be instrumental in facilitating communications with local taxing authorities, and they can help design loan packages that incorporate State and Federal programs with private financing.
