The Small Business Administration (SBA) is a government agency dedicated to serving small business owners. One of the most important ways they help small businesses is through SBA lending. An SBA loan can be a great way for businesses to gain the amount of financing necessary to find success in a competitive business environment.
A great way to improve your business is by modernizing your equipment. Maybe there’s a piece of machinery that can cut down the amount of time it takes to complete tasks. Or maybe you could invest in a bigger truck that will allow you to deliver twice as many products. Whatever kind of business you’re operating there’s likely some kind of machinery out there that could make your business more efficient, saving you time and making you reach your goals quicker. According to the National Federation of Independent Businesses, 56% of business owners reported capital outlays in the last six months. Of those making expenditures, 38% reported spending on new equipment and 24% acquired vehicles. An SBA loan puts big purchases within your reach, allowing your business to enjoy the efficiencies of the latest technologies.
Having the right location can drive significant business growth. However, few small business owners can fully fund a real estate purchase from their working capital alone. With an SBA loan, moving locations or opening a new branch can finally become a possibility. The competitive interest rates and long repayment terms make SBA loans a great option for funding real estate purchases. Some SBA loans can even provide a down payment of as low as 0% for owner-occupied commercial real estate. With an SBA loan, you can finally reap the benefits of capitalizing on real estate opportunities
As your business grows, you’ll likely need more employees to keep it running. Thankfully, SBA loans are not just for financing equipment or real estate, but can also be used to increase operating capital. 40% of small business owners claim that they are concerned about filling open positions in their business. But with an SBA loan, you can feel secure knowing that you have the financial ability to make an offer when the right candidate becomes available. Having extra cash on hand thanks to small business loans means that your business can offer competitive wages and attract quality employees that can continue to push your business ahead.
Depending on the industry your business is in, you may find that the demand for your products or services can change depending on the season. A florist may make most of their revenue during the summer and see a drop in sales when colder seasons hit. A toy store may have an overload of orders during the holiday season but then face a lull in January. SBA lending can help to give you extra funds to draw on when demands rise and also smooth out any cash flow issues that arise as demands drop.
Apply online, get qualified for an SBA 7(a) loan in minutes, and access the capital you need without the usual delays.
Once you decide to get an SBA loan for your business, the application process is easy. To start, you’ll need to make sure that your business is actually eligible for a loan. To get more information on the SBA’s eligibility requirements, check out our blog detailing SBA loan eligibility.
If your business is eligible for a loan, then you’ll need to get connected with an SBA lender. As a Grasshopper client, getting access to an SBA loan is made simple. With our digital SBA 7(a) lending solution, you can enjoy a streamlined lending process, giving you faster access to SBA financing. For more information, connect with one of the experienced lending professionals of our SBA Lending Team.
Brana Webb is a versatile marketing professional with a decade of experience leading brand, content, and digital strategies across industries ranging from financial services to consumer goods. With 8+ years of experience driving brand growth and customer engagement across the banking and fintech space, she has developed a strong track record of translating complex ideas into compelling campaigns that resonate with target audiences. In her current role at Grasshopper, she leads strategic marketing initiatives that support product launches, deepen client relationships, and fuel business growth. With a background spanning both in-house and freelance work, Brana brings a thoughtful, creative, and data-informed approach, helping teams connect more meaningfully with their audiences and move faster toward their goals.
