The Many Benefits of an SBA-Backed Small Business Loan
There is no doubt that a small business loan is one of the most beneficial and appealing tools that business owners have at their disposal. Of course, it is important for business owners to be careful and responsible when applying for a loan, as there are some risks, such as accidentally accumulating debt. Having the Small Business Administration back your loan is one of the best ways to minimize or eliminate these risks. With the help of the SBA, Black Wolf Capital Group can provide you with an incredibly appealing and beneficial commercial loan. Not only that, but we also make a point to work with each of our clients to tailor make a loan that suits your unique needs exactly. Because your business is not the same as any other, your financing should be unique as well. Turn to Black Wolf Capital Group to learn more about how you can qualify for a 504 or 7a program.
Small Business Administration Backed Loans
There are many benefits that you can enjoy when you qualify for an SBA-backed loan. First of all, the amount of capital you can gain is increased. Even very small businesses may be able to qualify for impressively large loans. Second, it is easier to be approved. This means if your business is too small to otherwise receive financing, you may still be able to qualify. It also means that the processing time and amount of paperwork is reduced significantly.
Using Your Small Business Loan
Because there are so many different ways to use your loan, you should know all your options. Some of the most common uses for working capital gained from Black Wolf Capital Group includes:
- Completing a remodel
- Purchasing new real estate
- Investing in marketing
- Upgrading or purchasing new equipment
- Hiring new staff
- Refinancing or consolidating debt
The Small Business Life Cycle
The following illustration depicts the typical financial cycle of a small business. Although every business is unique, and variables may vary significantly, we’ve found that capital requirements at each stage tend to follow a similar model. With Black Wolf Capital Groups consultative approach to commercial financing, we can secure funding at each stage of the Small Business Life Cycle helping your business grow and prosper for many years to come.