Advice on Getting an SBA Loan

Coyote Blog writes a few days ago about how to get an SBA loan. "What finally made the decision for me is that this government program has crowded out all other private options. Banks get about the same rate for an SBA loan as they would for a commercial loan without the guarantee. Since the guarantee is out there and doesn't cost the bank anything, the bank has no reason not to insist on it? Therefore, as a small company in the SBA size range, there just are not any banks willing to lend without the SBA guarantee. This does not mean that in a free market without the SBA there would be no loans - it just means that when such a free subsidy program exists, banks are going to take it." He goes on to give a nice simplified version how what these loans are and how to get them. He outlines other costs and considerations and about what type of bank to look for. These are all very important things to keep in mind while searching for these loans and things I will remember as I continue my search for this type of loan. These loans are not something you can go out and find today or tomorrow but require time and planning. Take a look through his article for a nice outline. ~~be bold (link came via Business Opportunities Weblog)