SBA Loan Programs from Meriwest
SBA is the Small Business Administration. The SBA was founded in 1953 to help deliver loans and loan guarantees to help small businesses get started. The SBA offers a variety of loan programs for very specific purposes. Small businesses are America's most powerful engine of opportunity and economic growth. That's where the SBA comes in. SBA offers a variety of programs and support services to help navigate the issues when submitting initial loan applications and offers resources to help after opening a business.
The SBA does not provide direct loans. Rather, the agency provides guarantees to loans availed through SBA's partner lending institutions, which includes Meriwest Credit Union.
An SBA loan can be used for:
- Starting your own business
- Purchasing an existing business
- Growing your business
- Financing equipment
- Tenant improvements
- Acquiring working capital
Purchase a building for your business with an SBA Loan from Meriwest:
- Down payments as low as 10%
- Low interest rates
- Local approvals
- Building improvements can be included in the loan
To qualify for an SBA loan, you must meet the following:
- Have a strong business plan
- The borrower must have a stake in the business
- Have a good personal credit rating
- Background and experience in the business
Meriwest Business Banking Officers will listen to you, learn about your business, and tailor solutions to your needs.
In addition, Meriwest might be able to help you with other types of business loans.