Even in these unprecedented times, the U.S. Small Business Administration’s lending programs continue to help our economy. The pace of SBA loan-making is always a healthy sign for a good economy because the credit market is one of the foundations for ensuring the availability of financing for small businesses trying to establish themselves, grow and create new jobs throughout Arizona.
Although the past few months have been all about the Paycheck Protection Program (PPP) and ensuring that businesses can remain open, reopen and, either way, pay their employees, Lender Match, a free online referral tool that brings together entrepreneurs and SBA lenders to help increase access to capital, has reopened. Lender Match connects borrowers with accessing SBA lending products, such as 7(a), 504, micro-loans and Community Advantage Loans. It is designed to make it easier for entrepreneurs to connect with potential lenders by allowing a small business to fill out a quick online form, without registration, and connect with lenders usually within 48 hours. Lender Match is available to all SBA 7(a) and 504 lenders across Arizona.
Both the 7(a) Loan Program and the Micro-Loan Program are open for business and lenders are lending money. The 504 Loan Program is also funding, and the debenture currently funds with a 10-, 20- and 25-year maturity, depending on the amount and needs of the borrower. The purpose of the 504 Loan Program is to provide long-term financing for the purchase or improvement of land, buildings and major equipment. Loans are made by lenders in conjunction with Certified Development Companies (CDCs) that are regulated by the SBA to promote economic development within the community.
Take advantage of SBA’s lending programs to grow your business, because your business success is our nation’s business success.
U.S. Small Business Administration, Arizona District