SBA Loan Advantages:
- SBA business loans have lower monthly payments
- SBA Loans have flexible terms
- SBA Startup Loans generally have a low down payment
- There are no balloon payments with these small business loans.
- SBA financing offers lines of credit with 7-year commitments.
SBA Loan Disadvantages:
- SBA lending generally takes a few extra weeks to process, as opposed to conventional commercial loans.
- SBA loans require additional collateral like inventory, receivables, equipment, and property.
- There are prepayment penalties with small business administration loans.
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