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Small Business Tips: 5 Ways an SBA Loan Can Help Your Company

Whether your small business is taking its first step or the next step, applying for a Zions Bank SBA loan can give you a leg up.

Kallee Feuz Jan 9, 2018

Securing business funding is a delicate dance for any small business. And getting turned down by a business funding prospect can leave you feeling alone on the dance floor like Phil “Duckie” Dale in the movie “Pretty in Pink.” But your small business story, too, can have a happy ending.

A U.S. Small Business Administration-backed loan from Zions Bank may be a perfect match for your small business’ funding needs — the Ginger Rogers to your Fred Astaire. Whether your business is ready to take its first step or the next step, here are five reasons why a Zions Bank SBA loan, like a great dance partner, can give your business a leg up:

1. Zions Bank SBA loans are there for you when others aren’t.

After being snubbed by his date, Napoleon Dynamite finds a willing dance partner in his earnest and entrepreneurial classmate, Deb. Like the aspiring glamour shots artist, SBA loans unlock potential in what others may deem risky. That’s because SBA-approved lenders receive a guarantee that the U.S. Small Business Administration will repay a portion of the loan if the borrower defaults, allowing banks to extend financing to businesses that might not otherwise qualify. As it turns out, Napoleon has some sweet moves in his future — and so does your business, with the support of an SBA loan.

2. Zions Bank SBA loans are versatile.

In terms of breadth, depth and versatility, SBA loans could be considered the John Travolta of small business lending. Whether he’s doing the hand jive as Danny in “Grease” or owning a twist contest as Vincent in “Pulp Fiction,” Travolta masterfully boogies with a multitude of partners to the beat of many different tunes. Similarly, an SBA loan can keep your small business “Stayin’ Alive” by meeting a variety of financial demands, including start-up costs, working capital or fixed assets. SBA loans can even be used to refinance an existing loan. That way your business can run like “Greased Lighting” without cash flow interruptions. Check out this loan comparison table and visit a Zions Bank lender who can match you with the right SBA loan for your business needs.

3. A Zions Bank SBA loan can take your business to the next level.

Were it not for the figurative and literal boost by mamba aficionado Johnny Castle (Patrick Swayze), Frances “Baby” Houseman (Jennifer Grey) may have never outgrown her nickname. Like the “Dirty Dancing” instructor, an SBA loan can raise your business to new heights, with loan amounts from $5,000 to $5 million.
 The SBA offers ongoing support, such as free counseling and education, to help you start and run your business. To speed up the application process, put in the time and legwork preparing your paperwork like Baby did finessing her footwork. Start by reviewing this business credit application checklist.

4. Zions Bank SBA loans offer competitive terms.

A good loan, like a good dance partner, should be competitive, as aptly demonstrated by Mia Wallace, played by Uma Thurman, in “Pulp Fiction (“I wanna dance. I wanna win!”).  Thanks to their government backing, Zions Bank can offer SBA loans at competitive rates, with fees that are comparable to non-guaranteed loans. And like Mrs. Wallace’s distinctive dance style, SBA loans offer some unique features, including flexible terms and low down payments. Contact a Zions Bank representative by phone or visit any Zions Bank branch for more information.

5. Zions Bank SBA loans are a small business solution.

If you’ve struggled to get business financing like the high schoolers in “Footloose” struggle to take on the anti-dancing ordinance, you are not alone. About 61 percent of small company owners call debt financing difficult to get. Luckily, a Zions Bank SBA loan can be the Ren (Kevin Bacon) to your financing challenges. As the top 7(a) SBA lender for 24 years in Utah and for 16 years in Idaho, Zions Bank’s team of experts can help you find the right SBA loan for your business. Apply online any time or at a local Zions Bank branch. 

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