The Small Business Administration’s most popular “loan product” is the 7(a). Like the SBA 504, the 7(a) may be used for real estate transactions, but offers a variety of other options:
• To acquire equipment, machinery, furniture, fixtures,supplies, or materials. For long-term working capital, including the payment of accounts payable and/or for the purchase of inventory.
• To refinance existing business indebtedness which is not already structured with reasonable terms and conditions.
• For short-term working capital needs, including Seasonal financing, contract performance, construction financing, export production, and for financing against existing inventory and receivables under special conditions; or
• To purchase an existing business.
Both programs offer great solutions for smal business owners. The recovery of or economy will also depend on the success of small businesses in USA.
Denise Beeson