SBA is helping small business owners to get loans from 1952. If you will apply for SBA loan, then you should visit your financial instution. There are many SBA loan types. For example, they have basic 7(a) loan program, certifies development company 504 loan program and microloan program for starting or expanding business. They have disaster loans or export, import and international trade loans. Veteran and military community loans are also available.

According to business.gov, The Official Business Link To The U.S Government, SBA loan application checklist is below;

1. SBA Loan Application Form
2. Personal Background
3. Personal Financial Statement
4. Projected Financial Statement
5. Business Financial Statement
6. Ownerships and Affilations
7. Business License
8. Loan Application History
9. Business Income Tax Returns
10. Personal Tax Returns
11. Resumes
12. Business Overview and History
13. Business Lease

Your lender institution will provide information about all the necessary documents to apply for SBA loan.

If you are starting a new business or if you have a business already and planing to expand it but there’s no money to invest on business. Small business loan options are right for you. There are many financial instutions giving commercial loans. You can use them for advertising, renovations, emergencies, expensions, capital expenditures, export or import whatever your need is.

Interest rates charged on small business loans ae generally at variable or fixed rates. With fixed rate loan, you know your monthly payments for the duration of the loan. With variable interest rates, interest rates fluctuate so your monthly payments change as interest rate changes.

Banks and financial instututions offer business loans. You should make a good research before obtaining it and read all the documents before signing the agreement. Be aware of the all the costs and penalties if you can’t repay on time, so that your investment project don’t turn into nightmere. Because there are significant compatition on commercial loans, compare the instutions before obtaining a loan will give you the different perspectives and with that comparison you can choose the loan with minimum cost.

There are spesific loan institutions, government or private, that targeting women business owners. One of them is Women-21.gov. According to them, today there are 6.2 million women owned firms empoying 9.2 million people and generating sales of 1.15 USD trillion. Like other institutions, women-21.gov is helping women business owners by promoting policies and removing obstacles in the business.

SBA is on the other hand, one of the most effective agency for small business loans for women.

WBCs, Women’s Business Centers have also grant opportunities for women entrepreneurs.

Aauw –American Association of University Women, with the slogan “Breaking through barriers for women and girls” have many resources for grant opportunities and scholarships.

As a woman enrepreneur, before obtaining small business traditional loan, we urge you to look up these government agencies and private fundings. You can find more advantageous loan types in these organizations. Do not forget to follow up grants.