Understanding SBA Loans

By Mike Switzer

Published April 13, 2018 at 5:02 AM EDT

Most businesses are aware that loans are available through the US Small Business Administration, but our next guest says there remains a lot of confusion about the actual loan process and the various types of loan programs.

Mike Switzer interviews Frank Anderson, a lender relations specialist with the South Carolina district office of the SBA in Columbia, SC.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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