What Are SBA Loan Programs?
The Small Business Administration (SBA) offers a variety of loan programs for very specific purposes. SBA loans are typically referred to as SBA 7(a) loan, or the SBA 504 loan for commercial real estate. SBA also offers smaller programs, such as microloan program and disaster loans.
SBA Loans vs. Headway Capital Line of Credit
|SBA Loans Basic 7(a) Loan Program||Headway Capital Line of Credit|
|Loan Term||5-25 years||1-2 yeaars|
|Collateral||May require collateral||No collateral|
|Maximum Amount||$5 million||Credit line of $50,000|
|Speed||As little as 3 weeks||As little as 1 day|