One requirement to qualify for a U.S. Small Business Administration (SBA) loan is for a small business to have a healthy annual revenue. Most small businesses that receive a SmartBiz SBA loan earn $250,000 or more per year.
However, to some business owners, that notion doesn’t make sense. The SmartBiz Facebook page frequently has questions posted about this topic. “If a small business is making that much money, why would they need to get a loan?”
It seems counterintuitive to acquire small business debt, but there are many reasons to seek funding when your company is thriving. Here are several ways an SBA loan can fuel growth for your small business.