SBA Loan A New Sign Company Flourishes
Author: Valerie Mellema
Date posted: 03.19.20

Located in a large city on the east coast, a couple wanted to do something new. With more free time to focus on their interests, they realized their creativity could be used for sign making. So that’s precisely what the husband and wife team decided they would like to do. And at first, they worked endlessly to ensure everything went well.

The Dilemma of Starting a Business from Scratch

The two owners had never worked in this business. Neither of them was experienced with manufacturing or making signs. As a result, they jumped into an industry outside of their knowledge, and both had to learn a lot. Despite these issues, the sign company quickly became known for its unique product line.

 

Before long, the owners had to make a decision. They could take limited orders and go on as they were or find funding to get the equipment and storage space needed to be even more successful. In the end, they decided that financing was the way to go since they loved their new life as small business owners. Their need was $150,000.

Choosing the Ideal Funding Option

The couple went through all of their options to choose the right financing. They looked at traditional business loans and loans guaranteed by the Small Business Administration. After considering all the possibilities, the owners decided to go with an SBA 7(a) loan.

 

 

Reasons to Select the 7(A) Small Loan

There were various reasons that the SBA 7(a) small loan was the best decision. Chief among them was the long term length offered and low interest rate. They also were not in a rush to obtain funding so the longer application process was not a big deal.

 

The State of Signs on the East Coast Today

With an influx of money for equipment and storage, the business has done nothing but grow since the SBA loan came in. The owners even brought in a couple of employees to take care of all the business that has come their way. An SBA loan let this sign company become all that it could be.

 

 

About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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