SBA Loans Uncovered: What Every Aspiring Business Owner Needs to Know

SBA Loans Uncovered: What Every Aspiring Business Owner Needs to Know | Freedom Friday Are you dreaming of owning a business but not sure how to fund it? In this episode of Freedom Friday: The Journey to Business Ownership, I sit down with Kurt Hummel, SBA Lending Expert at Central Bank, who has over 23 years of experience helping everyday people get the funding they need to become their own boss. Kurt breaks down everything you need to know about SBA loans — no fluff, no confusing bank jargon — just real, honest answers to the questions aspiring business owners ask most. In this episode we cover: ✅ What an SBA loan actually is (hint: the SBA doesn't lend you the money!) ✅ The most popular SBA loan — the 7A program — and what it covers ✅ How much cash you actually need to get started (the 10% injection rule) ✅ Credit score requirements — and what banks are REALLY looking at ✅ SBA loan fees explained: packaging fees, guarantee fees & more ✅ Interest rates — and why a community bank may get you a better deal ✅ The difference between SBA loans and conventional loans ✅ Why franchise startups have an advantage when applying ✅ The documents you need to start the SBA loan process ✅ What happens if your loan defaults (the truth about collateral & your home) ✅ The #1 place Kurt says you should ALWAYS go first for financing Whether you're thinking about buying a franchise, acquiring an existing business, or starting something brand new — this episode is your roadmap to understanding how to fund your dream. 🔗 Connect with Kurt Hummel — SBA Lending Expert, Central Bank: 📧 [email protected] 📞 502-456-3839 🌐 https://www.centralbank.com (Serving Louisville, Lexington, Northern Kentucky & surrounding areas) 🔗 Connect with Patrice Miles — Career Ownership Coach: 🌐 Learn more about business ownership: http://journeytobusinessownership.com 💼 LinkedIn:   / patricemiles   📅 Book a FREE Discovery Call: https://pmiles.esourcecoach.com/sched... My coaching is 100% FREE — I work with aspiring business owners anywhere in the nation! 🎙️ Find Freedom Friday on: ▶️ YouTube 🎵 Spotify 🎵 Apple Podcasts 👍 If this episode helped you, please LIKE, SUBSCRIBE, and SHARE it with someone who needs a little encouragement today. Remember — freedom isn't just a dream, it's a choice! #SBALoans #FranchiseOwnership #BusinessOwnership #FreedomFriday #JourneyToBusinessOwnership #Entrepreneur #SmallBusiness #StartABusiness #SBALending #centralbank SBA Loans Uncovered: What Every Aspiring Business Owner Needs to Know