nina, the owner of organic farm, a sole proprietorship, wants to obtain additional capital to operate. this can be accomplished by

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18-11-2022
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nina, the owner of organic farm, a sole proprietorship, wants to obtain additional capital to operate. this can be accomplished by

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SwetaUpadhayay SwetaUpadhayay · Answer 1 · 2022-11-22T15:18:13+01:00

Nina, the sole proprietor of an organic farm, wishes to obtain additional capital to operate. This can be accomplished through a bank loan, a small business administration loan, or an infusion of Nina's personal funds.

What exactly is a loan from the Small Business Administration?

An SBA loan is a type of small-business loan that can be used to fund startup expenditures, working capital requirements, expansions, real estate purchases, and other expenses. This sort of financing is provided by a private lender but is guaranteed by the federal government.

SBA loan conditions vary depending on the lender and the loan program. Regardless of your lender or SBA loan program, you must meet a set of SBA standard criteria, such as:

You must be a for-profit company based in the United States.
The business owner must have put equity into the company, such as their own time and money.
You must be able to establish a need for funding as well as the business objective for which the funds will be used.
You must be an SBA-defined small business.

Learn more about a small business administration loan with the help of the given link:

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