Westar Funding Small Business Loans for Real Estate & Investments

Focus on SBA Refinance

What is the SBA?

The Small Business Administration is an agency of the United States Government. The mission of the agency is to help promote the development and growth of small businesses throughout the United States, predominately through providing loan guarantees to banks and other lenders to encourage them to lend money to small businesses they may not otherwise be able or willing to do. Some of the better known small business success stories that benefited from the SBA in their early years include Federal Express, Hewlett Packard, Nike, Outback Steakhouse and Jenny Craig to name just a few.
Depending on the SBA program and lender, loan proceeds can be used for a variety of purposes, including working capital, equipment andreal estate acquisition and renovation. Larger loans of over $50,000 generally require collateral in the form of assets of the business and real estate of the owners. Smaller loans are often available without collateral and less documentation. Because the loans are backed by the guarantee of the SBA, participating lenders must adhere to strict rules and regulations which include competitive interest rates and fees. The result is a set of small business loan programs designed to provide small businesses the ability to finance just about anything they might need.

There are a few things to keep in mind. The SBA does not lend the money directly, but instead relies on its lending partners, and therefore loan approvals must meet both the lender and SBA guidelines. Small business owners must provide their personal guaranties, and the review of their individual credit will be an important part of the underwriting process. Good personal credit of the owners is very important to obtaining a loan approval.

Learn more about the 504 Loan Program

Financing your business requires research to find the most appropriate funding model. SBA offers a variety of loan programs for very specific purposes. Take some time to study the programs described in this section to see if you qualify to participate.

• CDC/504 Program Explained at SBA.gov
  The CDC/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed …
• SBA Loan Program at Westar Funding Inc
• Try out the Westar Quick Qualification form to see if you qualify for a SBA loan

Quick Qualification