What is an SBA loan? Who can apply for one, and is it more expensive than other options? In this episode of Financial Cents, we’re sharing our know-how and experience to break down some of the common myths about SBA loans while explaining the process for borrowers.
As John Lewis, senior vice president and business banking manager, explains, SBA loans provide an opportunity for small businesses to obtain funding when they may not otherwise be able to obtain it. This makes these loans ideal for businesses that need capital to get them through the early stages of business growth.
“SBA loans provide a great opportunity for small businesses to gain access to capital they might not have otherwise.”
– John Lewis
Though many may think that getting an SBA loan is a long and drawn out process, that isn’t necessarily the case. Brent Cannon, executive vice president and director of community banking, explains that a good working relationship with your banker can help make the process of applying for an SBA loan much smoother and quicker.
Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking at National Bank of Arizona, and features bankers at National Bank of Arizona who offer their financial insights and strategies.
- All loans subject to credit approval; terms and conditions apply. Contact branch for full details.