What is an SBA Line of Credit? (1)

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What is an SBA Line of Credit?
By Nick Perry

• Small businesses have many funding options
  available to them, from conventional loans to
  revenue-based financing to their owners personal
  assets. One of the leading business loan types
  are those backed by the United States Small
  Business Administration (SBA).
• SBA loan programs are partially guaranteed by the
  SBA, meaning that, should a borrower default on a
  loan, the government will reimburse a lender for
  a significant percentage of the loan amount. This
  protects lenders and can help businesses gain
  access to capital. In 2023, the SBA provided more
  than 33 billion in loans to more than 57,000
  small businesses.
• The SBAs 7(a) loan program is the most popular,
  but its a conventional term loan option that may
  not be right for all businesses. Sometimes, small
  business owners just need quick access to working
  capital without taking on long-term debt. Thats
  why many opt for more flexible financing
  solutions like business lines of credit, and why
  the SBA has recently announced the 7(a) Working
  Capital Pilot program.
• Read More https//www.biz2credit.com/business-lin
  e-of-credit/sba-line-of-credit- overview