Can I get an SBA grant to cover my merchant cash advance?

No, the SBA doesn’t offer grants to cover merchant cash advances. The SBA does provide loans and grants to help small businesses start, grow, and succeed. These resources can be used to purchase equipment, open locations, hire personnel, and much more. 

What are the benefits of a small business grant?

Small business grants offer entrepreneurs a number of potential benefits. Grants don’t need to be repaid and they provide a tangible source of capital that can be used to fund and sustain the business. Grants can also be used to provide access to capital that could be difficult or costly to access through traditional means. Businesses use them to fund research and development, strengthen the company, improve operations, and offer more goods or services. 

How is an SBA loan better than a merchant cash advance?

An SBA loan is typically better than a merchant cash advance because it has significantly lower interest rates and usually has more flexible repayment terms. An SBA loan may also offer more financing options and access to larger amounts of capital. With the SBA loan, you have the opportunity to establish more favorable terms that can help you manage your cash flow better and avoid high repayment costs.

Can the SBA help with grant fraud?

Yes, the SBA can help with grant fraud. The SBA's Office of Inspector General investigates potential cases of SBA grant fraud and works to ensure that grants are awarded and used appropriately. Anyone who believes they have witnessed an act of grant fraud can contact the SBA's Inspector General Hotline by phone at 1-800-767-0385.

About the Author

Christopher Murray

Christopher Murray

Personal Finance Expert

Christopher Murray is a professional personal finance and sustainability writer and editor who enjoys writing about everything from budgeting and saving to unique investing options like SRI and cryptocurrency.

More about me

Related Articles

Show More