As businesses throughout Wisconsin receive forgiveness on their first PPP loan and begin the process for a second PPP loan, we thought it would be a great opportunity to talk about the other products that the SBA offers in addition to the PPP loan.
In addition to a PPP loan to help businesses through a pandemic, the SBA has products that allows a business and a bank to create a lasting partnership while utilizing the strength of the SBA. When used correctly, SBA loans can become an amazing tool to help businesses grow. For a long time, when someone mentioned SBA loans it conjured up thoughts of extra paperwork and a long time to get the loan approved. Today, the SBA is more streamlined than ever and by working with an SBA preferred bank you can utilize the SBA to grow you company.
An SBA preferred bank is one that has gone through an evaluation by the SBA to ensure the bank’s policies and procedures meet SBA standards. Here at PyraMax we are proud to say that we are an SBA preferred bank! For you this means we are experts in SBA and can get your loan done efficiently, quickly, and correctly. Our commercial lending staff has gone through intensive training with both the SBA and industry trade groups to ensure that we know how to make SBA work for you.
Instead of trying to fit your business into a specific box or formula, our preferred status and insider knowledge means that we can custom tailor an SBA solution for you – and without all the extra paperwork and headache.
As we start to come out of the pandemic and focus on growth again let us be your advisors and partners in finding the SBA loan that works for your business.