Many business owners in the United States turn to the U.S. Small Business Administration (SBA) loans program if they contemplate additional financing for his or her business. And it's easy to see why. As well as providing quick financing when needed, the SBA will also guarantee repayments to safeguard contrary to the borrower defaulting on the loan. This guarantee encourages private lenders to supply funding to qualified businesses.

There are three main loan types beneath the SBA loan guarantee program:

Preferred Lender program – Certain lenders in good standing with the SBA have been authorized to approve SBA loan requests unilaterally. Loan processing under this system follows the same guaranteed loan guidelines for 7(a) loans and the SBA generally supplies the loan guarantee in as little as 24 hours.

SBA Express Loan Program – These loans are guaranteed as much as 50% by the SBA. Lenders use their particular application forms and other documentation so it's simpler to process the request. Loan amounts typically range from $50,000 to $350,000 and the SBA can provide the loan guarantee within 24 hours of the request.

Patriot Express Loans – These special business loans can go as high as $500,000 and are available to military personnel and veterans, along with to spouses of service members who died or got severely injured in the distinct duty. Patriot Express Loans are eligible for the SBA's maximum guarantee of 85% for loans below $150,000, and 75% for loans above $150,000. It also features one of the fastest turnaround times and low interest rates.

SBA loans are an effective way to help keep your company afloat and explore various opportunities for growth and expansion. Get your SBA-guaranteed business funding at United Business Loans today. We are the leaders in business loans and services with over 50 approved lenders to choose from. Call us now to obtain started.