SBA Backed Lender
A small business loan that's issued by a private lender but backed by the federal government. The Small Business Administration (SBA) guarantees the loan, which eliminates some of the risk for the financial institution issuing the loan. This allows financial institutions to provide business loans with more favorable terms or more flexible underwriting criteria than conventional loans.
SBA loans can be used for a wide range of expenses, including startup costs, working capital, expansions, real estate purchases, and more. SBA loans typically have a longer repayment term and a lower interest rate than a conventional loan.