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How SBA Loans are Affected When Interest Rates Rise?
As interest rates continue to rise, the cost of taking out SBA loans is also increasing. With an estimated decline in loan applications of 15 percent or more, small business owners are feeling the pain in their pocketbooks as they must now pay higher costs to take out loans. When Interest Rates Increase Interest rates…
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What are the Pros and Cons of SBA Loans For Small Businesses?
Small businesses have been vital to the health of our economy for generations. They create jobs consumers access to a variety of goods and services, and in many cases, even change entire industries with their innovations. But starting any business requires capital — and small business owners often don’t have deep pockets or easy access…
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4 Types of Loans for Small Businesses
Understanding the various types of loans available to small business owners is essential for success. Loans can provide the capital and flexibility needed to expand a business, purchase new equipment or hire more staff. However, it’s important to realize there are different types of loans that come with different benefits and drawbacks, requiring consideration before…