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Small Business Administration offering virtual information sessions on loans | Business

Small Business Administration offering virtual information sessions on loans | Business
Written by Publishing Team

Starting today, the U.S. Small Business Administration (SBA) is offering virtual loan information sessions.

“We have observed an increase in inquiries about SBA loans and how to access them,” the Small Business Administration said in a letter. “There the lending team decided to launch the new year with new virtual information sessions: SBA 101 Loans and SBA Loans: 201.”

People who are eligible to participate in the sessions are people who are considering starting a business, establishing start-ups less than three years old, or established companies over three years old.

SBA 101 Loans will take place every first and third Thursday at 10 a.m. Click here to register.

Sessions will provide the following:

  • Define commonly used business loan terms
  • Understand the difference between small business loans and disaster loans
  • Understand basic eligibility for all SBA loans
  • Select the Common Documents Required for an SBA Loan
  • Identify resource partners who can help

SBA 201 Loans will take place every second and fourth Thursday. Click here to register.

These sessions offer:

  • Identify different loan programs and regulations 7(a) and compare them to the 504 . loan program and regulations
  • Understand the main differences in 7(a) loans.
  • Understand the loan underwriting process for both 7(a) and 504
  • Understand what lenders are looking for and how to improve the likelihood of approval

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