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What is an SBA Line of Credit?

Learn what a merchant cash advance is, how it works, and how businesses can use it to access quick funding based on future sales. Explore its benefits and considerations.<br>

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What is an SBA Line of Credit?

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  1. WhatisanSBALineofCredit? ByNickPerry Smallbusinesseshavemanyfundingoptionsavailable tothem,fromconventionalloansto revenue-basedfinancingtotheirowners’personalassets.OneoftheleadingbusinessloantypesarethosebackedbytheUnitedStatesSmallBusinessAdministration(SBA). SBAloanprogramsarepartiallyguaranteedbytheSBA,meaningthat,shouldaborrower defaultonaloan,thegovernmentwillreimbursealenderforasignificantpercentageofthe loanamount.Thisprotectslendersandcanhelpbusinessesgainaccesstocapital.In2023,theSBAprovidedmorethan$33billioninloanstomorethan57,000small businesses. TheSBA’s7(a)loanprogramisthemostpopular,butit’saconventionaltermloanoption thatmaynotberightforallbusinesses.Sometimes,smallbusinessownersjustneed quickaccessto workingcapitalwithouttakingonlong-termdebt.That’swhymanyoptfor moreflexiblefinancingsolutionslikebusinesslinesofcredit,andwhytheSBAhas recentlyannouncedthe7(a)WorkingCapitalPilotprogram. ReadMore:https://www.biz2credit.com/business-line-of-credit/sba-line-of-credit-overview

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