Review repayment terms and obligations before accepting business credit.
Program rules, amounts, and dates can change. Check the linked official sources for the current cycle.
Compare the written terms
Review the rate, fees, schedule, maturity, collateral, guarantees, and prepayment terms. Ask the lender to explain anything unclear.
Check affordability
Use cash-flow projections to consider payments during slower periods as well as expected periods. A preliminary match is not a final loan commitment.
Verify the lender and agreement
Confirm who makes and services the loan, read the final documents, and keep a copy. SBA-backed loans are made through participating lenders under program rules.