Financing business goals and dreams requires a great banking partner that understands how to get the job done. Today we welcome back Tom Meyer, Executive Vice President, Director of SBA Lending, at Centrust Bank. Centrust Bank is known for its expertise and close relationships with its commercial clients and also finding instrumental in helping small businesses reach achieve their dreams and growth aspirations.
Just as enough tiny droplets of water slowly fill a bucket, the growth of small businesses fills the U.S. economy. Big corporations might get a lot of attention when it comes to creating jobs, but according to the U.S. Small Business Association (SBA), small businesses of 500 employees or fewer make up 99.9% of all US businesses. Tom breaks down the benefits of SBA loans for small businesses.
The primary benefits of SBA Loans include: longer terms, longer amortizations, fully amortizing with no balloons, favorable interest rates, less equity down requirement and other situations where there may not be enough collateral to secure a traditional loan.
SBA loans can be used for the following needs:
· Equipment
· Business Acquisition
· Expansion
· Working Capital
· Start-up
· Exports
Pull your banker close and keep them involved. Let them help you and advise you as part of a team you should always be cultivating of good counsel.
To learn more about Centrust Bank you can go to CentrustBank.com.
All of it can be further explored in Insider94 Midwest Business Journal at www.insider94.com.