Everything You Need to Know About SBA Loans in 2022

Because of their active role in COVID-19 pandemic relief efforts, you've probably heard a lot about SBA loan programmes in the last year. While those are expiring, many other SBA loans will be available in 2022, including:

The SBA has a comprehensive loan programme to assist business owners in a variety of situations.

While the disaster assistance programmes offered during the pandemic have expired (or will soon), there are many others that may be of assistance to you. Everything you need to know is right here.

7(a) loans The 7(a) loan programme is the most widely used of the SBA's programmes. It provides loans to small businesses with a maximum loan amount of $5 million.

Certified Development Companies (CDC)/504 loans If you need to purchase major fixed assets for your small business, the 504loan programme can help you get loans up to $5 million.

Microloans Need a smaller loan, say, $50,000 or less? With Microloan program you can avail smaller loans that average $13,000.

SBA Express lines of credit (LOCs) SBA Express LOCs are lines of credit up to $350,000 that are made available to qualifying small business owners.

SBA Veterans Advantage loans The SBA Veterans Advantage Loans are intended to assist veteran-owned businesses in obtaining the financing they require to expand.

CapLines working capital loans The CapLines programme offers construction contractors or homebuilders loans of up to $5 million. They can be used to fund specific contracts, subcontracts, and purchase orders.

Community Advantage loans Community Advantage (CA) is a pilot loan programme designed to help small businesses in underserved areas.

International Trade loans The International Tradeloan programme offers loans of up to $5 million to small business owners looking to enter, expand, or compete in international markets.