Small Business Administration (SBA) Loans & Financing, Memphis

Pro-Active Lending brings you the best SBA loans in Memphis with their trusted professionals ready to help you every step of the way. Learn about all the perks that SBA lending has to offer!

Most small business owners consider various funding and credit options occasionally. Small Business Administration loans, or SBA loans in Memphis, may already be familiar to you if you own a small business or have given them some thought. SBA loans are an excellent option for some businesses for a variety of factors. We have compiled the advantages and other considerations you might have when deciding whether an SBA loan is the best option for you to assist you in making that decision.

Small Business Administration (SBA) Loans in Memphis: What Are They?

With an SBA loan in Memphis, the SBA sets borrowing limits and ensures that interest rates are cheaper than a bank typically charges. Borrowers use these programs to find lenders for their small businesses. The lender might have initially been reluctant to grant a loan to some borrowers. Although the SBA assumes some of the risks for the lender by ensuring a portion of the loan amount, lenders still value SBA loan programs. Lenders can provide more relaxed payment terms and ease interest rates than most small businesses would be able to get without that guarantee.

How Can Memphis SBA Business Loans Help Your Small Business?

For business owners who have experienced significant physical or economic damage due to the pandemic or want to expand their company but cannot find another non-government financing, a low-interest, long-term SBA loan in Memphis is a viable option. However, SBA loans and credit lines are comparable to traditional bank business loans. Business owners must first apply; if accepted, they are given funding and must repay it with interest. Here are some benefits:

  • Created explicitly for Small Businesses: Small businesses are the focus of SBA loans and SBA Express loans. The SBA and lenders developed guidelines to promote small business expansion and growth. SBA loans in Memphis, in contrast to conventional bank loans, are explicitly targeted at SMBs.
  • Numerous Uses for the Funds: SBA loans and SBA Express loans may cover numerous expenses. According to the SBA, you can apply for these loans for “most” business purposes, including startup, growth, equipment, working capital, inventory, or real estate purchases.
  • Secured Loans: SBA loans in Memphis are secured, which means that SBA agencies guarantee a portion of the loan amount to the lender, lowering their risk. (The bank may still take possession of your assets if you fail to make your payments.)
  • Happier Lenders: Because the federal government warrants SBA loans, more lenders are willing to finance small businesses through these loans. In fact, lenders drop their qualification criteria for small businesses that apply for SBA loans.

To start the SBA loan application process in Memphis, initiating communication with an SBA-approved lender like Proactive Lending would be best. The ideal lender can guide you through various loan options and suggest the financial instrument most appropriate for your particular circumstance. To determine your eligibility, you’ll need to provide a ton of supporting documentation and financial data, such as:

  • Your credit scores.
  • Personal and business financial statements
  • Years’ worth of tax returns
  • Resumes & business plans
  • Permission for credit and background checks
  • And, of course, your completed loan application paperwork!

Why Pro-Active Lending For Your SBA Loans in Memphis?

Memphis has won praise for being generally welcoming to small businesses, and the Memphis Chamber has started a project to reach its target of 50,000 new jobs by 2030. There are numerous opportunities for new businesses because the Memphis Metropolitan area’s economy is expanding more quickly than the national economy. 

Customers with solid projects and financials behind their proposition can get assistance from Pro-Active Lending in locating a solid SBA Loan for the Memphis region. Contact us as soon as possible to learn more about your options since our SBA loans in Memphis might be a perfect choice.

Memphis has received high marks for its overall friendliness towards small business and the Memphis Chamber has launched an initiative to meet its goal of 50,000 new jobs by 2030. With the Memphis Metropolitan area economy growing at a faster pace than the nation’s economy as a whole, the opportunities for new business abound!

Pro-Active Lending can help those customers who have a good project and good financials behind their proposal, to find a good SBA Loan for the Memphis area. SBA loans are appealing to lenders, especially these days, because they are guaranteed by the United States Government’s Small Business Administration, and the lender only has to guarantee a small portion of the loan while the government handles the rest. A Memphis SBA Loan could be a very good option for you, so contact our office as soon as you can to discover your options.



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