If your small business needs working capital until the SBA re-opens or if you simply want to better understand your funding options, schedule a free Breakout Business Review to determine if online lending is right for you.
Amidst the longest government shutdown in US history, small businesses across America continue to serve and operate in their local communities. One challenge to keeping their doors open is the current hold on SBA Loan applications pending Congress passing a funding bill.
The most common SBA Loans are provided by a bank or authorized SBA lender which is then backed by the Small Business Administration. The backing is a guarantee to the bank lender in the event of a loan default. Essentially, SBA loans alleviate the risk associated with lending money to business owners and entrepreneurs who may not qualify for traditional loans.
Borrowers anxiously waiting for the government to re-open should consider online lending.
Small businesses can access short-term loans, invoice factoring solutions, and lines of credit with minimal required information – with funding as quick as one day.
Small businesses scrambling to secure capital should ask these questions to find the right lender:
Breakout provides loan solutions that work best for your business, not ours. Contact our support team more about staying open while the government’s closed.