Government-backed loans are financial products that are supported by government agencies to help individuals secure funding for various purposes, such as buying a home or starting a business. These loans often come with lower interest rates and more flexible repayment terms compared to traditional loans, making them accessible to a wider range of borrowers. Examples of government-backed loans include those offered by the Federal Housing Administration (FHA) for homebuyers and the Small Business Administration (SBA) for entrepreneurs. These programs aim to promote economic growth and increase homeownership by reducing the risks for lenders, thereby encouraging them to lend to individuals who may not qualify for conventional loans.