Business loans can be confusing, especially when it comes to the finer nuances of SBA and USDA loans. Therefore, we’ve created an infographic to help clarify the primary differences between a few of the most popular types of loans:
- SBA 7(a) and 504 loans, which have a government guarantee for the lender through the Small Business Administration, and
- USDA loans, which are a similar product for rural area growth through the United States Department of Agriculture.
Although learning the differences between these two types of loans can be a great start, determining the appropriate loan is infinitely more complicated.
Because they’re immersed in loan and credit decisions every day, understanding each product in great detail, a short conversation with a SBA- and USDA-approved lender can often be more useful than trying to explore loans on your own. Why not call us today? We’re a top SBA lender who’s always happy to share what we know, and start you down the right path.
To learn more, or discuss your specific needs, contact a branch or loan office today. We’re happy to help.