The Duquesne University Small Business Development Center (SBDC) works with you to provide you with tools and resources to best finance your small business. We do not provide direct financing or small business loans, but we work with several lenders.
We have served more than 5,000 small businesses in our area, and we have helped our clients to get total funding of $165M.
At the Duquesne University SBDC, we know how to get the best funding option for you, which might be a commercial loan, a Small Business Administration (SBA) loan, or a grant. Whether you need a business plan, financial projections, or a letter of intent, we can help you to get there!
These adjust periodically, but currently, these range between 6 and 7.5 percent pending credit.
Typically a loan for purchasing a business is 10 to 15 years. Loans for equipment and working capital tend to be between five and ten years.
The SBA will guarantee a loan offered by the lender such that the lender does not have to assume full risk for it. Depending on the promise of the business, the robustness of the business plan, and the quality of the cash flow projections, the SBA can assume risk up to ninety percent of the loan. The advantage to the lender is that it then does not have to assume full risk. The SBA is NOT a bank or direct lender. Rather, it is a partial guarantor on the note.