South End Capital is pleased to announce that it has provided flexible and accessible financing via its SBA 7(a), Equipment, Fast Capital, and Credit Line programs. The innovative $3.2 billion direct lender and tech-powered marketplace delivered the array of financing via its balance sheet and third-party lender platform.
$538,400
▶ Long-Haul Trucking Co.
▶ Land Purchase
▶ SBA 7(a) Loan
▶ 25-Year Amortization
▶ Quarterly Adjustable
▶ 10.25% Interest Rate
We can even consider borrowers turned down by other lenders due to low credit or other financing barriers:
Learn More! - GET STARTED!
Start-Up Financing | SBA Loans | Unsecured EIN Business Credit South End Capital Stearns Bank
.Friday, May 16, 2025
Tuesday, May 13, 2025
Press Release: South End Capital Closes a $3,445,000 Conventional Car Wash Startup & Construction Loan Plus Other Recent Financings
South End Capital is pleased to announce that it has directly delivered creative financing to help the startup, construction, and expansion of a car wash business. The innovative $3.2 billion direct lender and tech-powered marketplace financed the fixed-term, single-digit interest rate loan on its balance sheet.
$3,445,000
▶ Car Wash
▶ Conventional Bank Loan
▶ Startup & Construction
▶ 25-Year Amortization
▶ 5-Year Fixed 9% Interest Rate with 18-Month I/O Period
We can even consider borrowers turned down by other lenders due to low credit or other financing barriers: Learn More! - GET STARTED!
$3,445,000
▶ Car Wash
▶ Conventional Bank Loan
▶ Startup & Construction
▶ 25-Year Amortization
▶ 5-Year Fixed 9% Interest Rate with 18-Month I/O Period
We can even consider borrowers turned down by other lenders due to low credit or other financing barriers: Learn More! - GET STARTED!
Monday, May 5, 2025
401k Business Financing Guidant Financial
Guidant Financial takes an educational and transparent approach to small business and franchise financing. Local banks decline 80% of aspiring small business owners for loans. Few people have enough money on hand to start or buy a business or franchise outright. Why struggle with these barriers when you have the money to invest in yourself?
Use Rollovers for Business Startups to finance your small business or franchise. Pre-Qualify!
See your financing options and how much funding you can access with our two-minute pre-qualification:
Learn More! - GET STARTED!
Friday, August 30, 2024
LendingTree.com, LendingTree®! Keep a tight grip on your budget | LendingTree Academy!
We don't have access to our fancy studio, but that doesn't mean we can't still make helpful financial videos! Join Jonathan and Austin as they share tips sourced from LendingTree's financial experts...from their homes.
LendingTree Academy is a free resource to help you increase your financial literacy. Money's hard! LendingTree Academy's goal is to make it easier. Our first tip for our At Home edition is to keep a tight grip on your budget. No one knows how things are going to shake out with the virus, so set aside what you can.
How have your spending habits changed since the quarantines and closures happened? LendingTree.com, LendingTree®!
LendingTree Academy is a free resource to help you increase your financial literacy. Money's hard! LendingTree Academy's goal is to make it easier. Our first tip for our At Home edition is to keep a tight grip on your budget. No one knows how things are going to shake out with the virus, so set aside what you can.
How have your spending habits changed since the quarantines and closures happened? LendingTree.com, LendingTree®!
Thursday, June 27, 2024
Is SBA the Key to Startup Funding Success?
The Small Business Administration might hold the key to your success. In this video, we delve into the world of SBA loans and explain how they can help get your business off the ground. Don't miss out on this valuable information!
SBA Loan
Programs like 7(a), 504 and SBA Express & for Business Acquisitions! Startup Funding 0% Business Credit Card Stacking! The Best Funding Options To Grow Your Business!
Learn More! - GET STARTED!
Tuesday, August 8, 2023
Get The Business Loans & Credit Lines You Want and Need, When You Need Them and Even when Banks Might Say “NO.”
At Credit Suite, we work with all legitimate types of funding programs available today, offering funding through hundreds of investors and lenders through a multitude of different funding programs. These lenders all offer their own different and unique lending requirements, so it’s tough to navigate these alone and know all your options… which is where we help.
This gives you the best opportunity to get the most amount of financing, at the best terms.
Here are just a few of the most sought-after loan programs you can access through Credit Suite:
Credit Line Hybrid Unsecured No-Doc up to $150,000 Even for Startups
Business Revenue Lending and Cash Advances with 72 Hour Funding
Account Receivable Loans and Credit Lines with Rates of 1% and Less
Purchase Order Financing and Inventory Credit Lines
Securities and 401k Financing
Real Estate & Hard Money Fix Flip Funding
Equipment Financing and Leasing for Purchase and to Refinance Existing Equipment
Private Investor and Alternative SBA Financing
When you work with us, you’re not working with a faceless and gigantic banking organization. Right away, you’ll be assigned to your own personal Finance Officer who will work directly with you to develop your Finance Blueprint with all the funding options you can qualify for now.
And, your blueprint maps out the steps to get you even more (and perhaps even better) loans and credit lines in the future. It’s easier when you know what they want and need and how to boost your own business credit profile.
Once you choose the funding you’d like from the options that you can qualify for, our team goes into action working with lenders and investors to get you approved.
Your Finance Officer helps you get approved, negotiates rates and terms, and helps you through all aspects of the funding process until your loan proceeds are in your bank account.
With our help, and when you know how, you can get a business loan or credit line:
Regardless of Personal Credit Quality
Even with No Assets to Pledge as Collateral
Even with No Revenue
By working with all legitimate funding sources and a wide range of loans and credit lines, we can often get you approved for multiple loan and credit line options, maximizing the amount of capital you receive.
Discover Business Financing Options you never knew you had with alternative lenders and investors. Complete Your Finance Blueprint Qualifier Today!
This gives you the best opportunity to get the most amount of financing, at the best terms.
Here are just a few of the most sought-after loan programs you can access through Credit Suite:
Credit Line Hybrid Unsecured No-Doc up to $150,000 Even for Startups
Business Revenue Lending and Cash Advances with 72 Hour Funding
Account Receivable Loans and Credit Lines with Rates of 1% and Less
Purchase Order Financing and Inventory Credit Lines
Securities and 401k Financing
Real Estate & Hard Money Fix Flip Funding
Equipment Financing and Leasing for Purchase and to Refinance Existing Equipment
Private Investor and Alternative SBA Financing
When you work with us, you’re not working with a faceless and gigantic banking organization. Right away, you’ll be assigned to your own personal Finance Officer who will work directly with you to develop your Finance Blueprint with all the funding options you can qualify for now.
And, your blueprint maps out the steps to get you even more (and perhaps even better) loans and credit lines in the future. It’s easier when you know what they want and need and how to boost your own business credit profile.
Once you choose the funding you’d like from the options that you can qualify for, our team goes into action working with lenders and investors to get you approved.
Your Finance Officer helps you get approved, negotiates rates and terms, and helps you through all aspects of the funding process until your loan proceeds are in your bank account.
With our help, and when you know how, you can get a business loan or credit line:
Regardless of Personal Credit Quality
Even with No Assets to Pledge as Collateral
Even with No Revenue
By working with all legitimate funding sources and a wide range of loans and credit lines, we can often get you approved for multiple loan and credit line options, maximizing the amount of capital you receive.
Discover Business Financing Options you never knew you had with alternative lenders and investors. Complete Your Finance Blueprint Qualifier Today!
Wednesday, October 26, 2022
South End Capital Launches Lightning Fast Stated Income SBA Express Program
Preferred SBA lender releases small business working capital program that offers funding in hours without tax returns or financials
South End Capital's SBA Express program enables businesses access to affordable working capital financing up to $25,000 in hours.”— Noah Grayson, President of South End Capital ST. CLOUD, MINNESOTA, UNITED STATES, September 7, 2022 /EINPresswire.com/ -- South End Capital a division of Stearns Bank N.A., a nationwide commercial lender and tech-enabled business, real estate, and equipment finance platform, has announced its innovative new SBA Express program that enables businesses access to affordable working capital financing up to $25,000 in hours.
SBA financing has always offered appealing terms to small business owners, but the program has been stigmatized by lengthy closing timeframes and voluminous amounts of paperwork. South End Capital's new streamlined SBA Express program not only slashes funding timelines from months to hours, but only requires the completion of a small handful of concise forms, and often does not require that borrowers provide hard collateral, bank statements, tax returns, or financials. "With the release of our SBA Express program we have revolutionized the way small businesses access working capital. No longer must businesses seeking low documentation and/or fast working capital pay exorbitant merchant cash advance fees or above-market interest rates, " stated Noah Grayson, President of South End Capital. Businesses are eligible for the following terms under South End Capital's SBA Express program:
- Rates Start at Prime + 4.5%
- Monthly Loan Repayment
- 10 Year Fully Amortizing Loan Terms
- No Prepayment Penalty
- No SBA Guarantee Fee
- Funding in Hours
Interested borrowers can complete a short financing inquiry form, and if eligible for SBA Express financing, will be provided a link to a streamlined application that can be completed and signed electronically. From there only a few remaining items are collected and evaluated before approval and funding. The following parameters outline South End Capital's expedited SBA Express program:
- Financing for Working Capital or Equipment
- Most SBA Eligible Businesses Considered
- 725+ Business Owner Credit Minimum
- 4+ Years Minimum Time in Business
South End Capital hopes to offer larger SBA Express financing sizes and relax its eligibility requirements down the road, but the lender does currently offer other loan options up to $75 million and financing for borrowers with credit down to 550 and/or in operation for less than a year.
To see if you are eligible for lightning fast SBA Express financing, you are invited to contact South End Capital directly at southend@stearnsbank.com or visit https://southendcapital.com
ABOUT SOUTH END CAPITAL
Founded in 2009 as a nationwide, non-conforming commercial lender, South End Capital became a division of Stearns Bank N.A., a $2.3 billion financial institution, in June of 2021. Our innovative balance-sheet lending and comprehensive marketplace financing delivers a full spectrum of capital solutions for emerging and expanding businesses. South End Capital’s tech-enabled platform and premier customer support offers equal access to industry-leading conventional and alternative equipment, real estate, and business funding. Click Here to learn more and to be contacted by a team member.
South End Capital a division of Stearns Bank, N.A. Equal Housing Lender Member FDIC
South End Capital's SBA Express program enables businesses access to affordable working capital financing up to $25,000 in hours.”— Noah Grayson, President of South End Capital ST. CLOUD, MINNESOTA, UNITED STATES, September 7, 2022 /EINPresswire.com/ -- South End Capital a division of Stearns Bank N.A., a nationwide commercial lender and tech-enabled business, real estate, and equipment finance platform, has announced its innovative new SBA Express program that enables businesses access to affordable working capital financing up to $25,000 in hours.
SBA financing has always offered appealing terms to small business owners, but the program has been stigmatized by lengthy closing timeframes and voluminous amounts of paperwork. South End Capital's new streamlined SBA Express program not only slashes funding timelines from months to hours, but only requires the completion of a small handful of concise forms, and often does not require that borrowers provide hard collateral, bank statements, tax returns, or financials. "With the release of our SBA Express program we have revolutionized the way small businesses access working capital. No longer must businesses seeking low documentation and/or fast working capital pay exorbitant merchant cash advance fees or above-market interest rates, " stated Noah Grayson, President of South End Capital. Businesses are eligible for the following terms under South End Capital's SBA Express program:
- Rates Start at Prime + 4.5%
- Monthly Loan Repayment
- 10 Year Fully Amortizing Loan Terms
- No Prepayment Penalty
- No SBA Guarantee Fee
- Funding in Hours
Interested borrowers can complete a short financing inquiry form, and if eligible for SBA Express financing, will be provided a link to a streamlined application that can be completed and signed electronically. From there only a few remaining items are collected and evaluated before approval and funding. The following parameters outline South End Capital's expedited SBA Express program:
- Financing for Working Capital or Equipment
- Most SBA Eligible Businesses Considered
- 725+ Business Owner Credit Minimum
- 4+ Years Minimum Time in Business
South End Capital hopes to offer larger SBA Express financing sizes and relax its eligibility requirements down the road, but the lender does currently offer other loan options up to $75 million and financing for borrowers with credit down to 550 and/or in operation for less than a year.
To see if you are eligible for lightning fast SBA Express financing, you are invited to contact South End Capital directly at southend@stearnsbank.com or visit https://southendcapital.com
ABOUT SOUTH END CAPITAL
Founded in 2009 as a nationwide, non-conforming commercial lender, South End Capital became a division of Stearns Bank N.A., a $2.3 billion financial institution, in June of 2021. Our innovative balance-sheet lending and comprehensive marketplace financing delivers a full spectrum of capital solutions for emerging and expanding businesses. South End Capital’s tech-enabled platform and premier customer support offers equal access to industry-leading conventional and alternative equipment, real estate, and business funding. Click Here to learn more and to be contacted by a team member.
South End Capital a division of Stearns Bank, N.A. Equal Housing Lender Member FDIC
Tuesday, March 15, 2022
7 Business Loans For Your Startup Business
Want to discover 7 Business Loans for Startups? A great startup needs great funding and in this video we outline 7 business loans you can qualify for as a startup business! Let us help you find the funding you need to get your business up and off the ground! Get Started! Complete Your Finance Blueprint Qualifier Today! Wont Impact Your Credit Score!
Wednesday, March 10, 2021
SBA Loan Programs & Which One Is Best for You
The 2020 pandemic has greatly affected small businesses across America. As entrepreneurs prepare for the 2020 holiday season, they may need assistance for inventory, marketing, and more. The Small Business Administration (SBA) can help during these trying times.
Congress created the SBA in 1953 to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns.”
Today, SBA loan programs are more important than ever to prop up small businesses in all areas. Specialized programs have been put in place for women, minorities, and veterans. SBA also provides loans to victims of natural disasters like flooding and wildfires along with specialized help in international trade. The government agency is looking out for business owners during the 2020 pandemic.
While the words “government agency” might make you balk, the Small Business Administration’s low-cost loan programs are helping small business owners across America reach their entrepreneurial dreams. Here’s what’s available, who qualifies, and how they work.
The CDC/504 Loan Program
This program is described by the SBA as a win-win-win for the small business, the community, and participating lenders. The CDC/504 Certified Development Company Loan program conserves your working capital by requiring only a 10 percent borrower contribution. If you do not qualify for conventional financing, the SBA-backed 504 loan may be right for you.
Certified Development Companies (CDCs) are nonprofit corporations that promote economic development within their communities.
The SBA authorizes CDCs to provide financing to small businesses with the help of third-party lenders (typically banks) 504 loans.
Maximum SBA loan amount: The maximum SBA loan amount for 504 SBA loans is capped at $5 million. Certain eligible energy-efficient or manufacturing projects may qualify for more than one 504 loan up to $5.5 million each. Interest rate
Below-market interest rates are fixed for the life of the loan. The SBA sets the maximum interest banks can charge on CDC/504 loans. As of August 2020, 20 and 25-year interest rates at 2.214% and 2.269%, respectively.
Required equity
A low down payment (10 percent in most cases) conserves your working capital.
Terms
10, 20 or 25 year terms. The longer the terms, the lower monthly payments will be.
Use of proceeds
Long-term, fixed assets for expansion or modernization (usually real estate or large equipment). Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.
The CDC/504 Loan Program: How It Works
The 504 Loan Program was created to give small businesses low cost funds for expansion or modernization.
Typically, up to 50% of project costs are funded by a lender backed by the SBA. CDCs (Community Development Corporations) typically fund up to 40% of the project cost. The final 10% is a cash down payment expected to come from the borrower.
SmartBiz Loans does not offer SBA 504 loans but banks in the SmartBiz network fund SBA 7(a) loans, Bank Term Loans, and more financing options.
Who are 504 Loans For?
A 504 SBA loan might be a good fit for small business owners interested in purchasing a commercial real estate property and if their unique business circumstances fit with the public policy goals of your local CDC.
Minimum 504 Loan Requirements
Your business must be for profit, you’ll need to present a comprehensive business plan and relevant management expertise is required. Additionally, you must meet the following conditions:
Operate your business in the United States or its territories. The business net worth must be less than 15 million dollars Your business must have an average net income less than $5 million You must have the ability to repay the loan on time based on cash flow
The Microloan Program
The Microloan Program is for very small businesses, including start-ups and provides loans of up to $50,000. (Although SmartBiz Loans does not offer microloans, we do offer SBA 7(a) loans from $30,000.)
Microloan Amounts
Borrowers can apply for up to $50,000 with the average loan size funded by the SBA just $14,215 in 2016.
Microloan Interest Rates
Microloans have interest rates between 8%-13% and must be fixed rate and fixed term with regularly scheduled payments.
Collateral
Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.
Terms
Loan repayment terms vary according to several factors:
Loan amount Planned use of funds Requirements determined by the intermediary lender Needs of the small business borrower The maximum repayment term allowed for an SBA microloan is six years.
Use of Proceeds
Proceeds from an SBA Microloan can be used for most business expenses such as:
Working capital Inventory or supplies Furniture or fixtures Machinery or equipment
You cannot use a SBA microloan to refinance existing debt or to purchase real estate. If you need to refinance debt or purchase real estate, you should consider other SBA loan programs, such as a 7(a) commercial real estate loan.
How It Works
An SBA Microloan is a loan of up to $50,000 from an intermediary nonprofit to the owner of a small business or startup. The money originates from the SBA, which initially lends the money at a discounted rate to the intermediary. In other words, there’s a multi-step process.
Who Are Microloans For?
These small loans help small business owners who need less than $50,000 to strengthen and grow their business.
Microloan requirements
Check with your individual lender as requirements can vary. In general:
Credit score of at least 640 is required.
The business owner will need to either put up collateral or sign a personal guarantee.
SBA 7(a) loans
An SBA 7(a) loan is generally known as the “gold standard” in small business funding because of low rates, long terms, and very low monthly payments.
Minimum amount
Banks in the SmartBiz network fund SBA 7(a) loans from $30,000 - $5 million
Interest rate
Interest rates are variable and range from 4.75% - 7.00%
Collateral
A lien on business assets is required for SBA loans, but there is no minimum requirement for the value of those assets.
Terms
The term for an SBA 7(a) working capital loan is 10 years with low monthly payments. The term for an SBA 7(a) commercial real estate loan for purchase or refinance is 25 years with no balloon payment.
Use of proceeds
A big draw of SBA 7(a) loans is the wide use of proceeds. These include:
Debt refinancing
Working capital (includes operational expenses, marketing, hiring, etc. SBA loans can be used to fund new equipment purchases as well) SBA Commercial Real Estate loans from $500,000 – $5 million from banks in the SmartBiz network can be used for the purchase or refinance of commercial real estate that is 51% owner-occupied.
How it works
Here’s the application process for SBA 7(a) loans from banks in the SmartBiz network” We get to know you and your business Complete one online loan application through our advanced technology platform. No faxing or printing required. Discover if you’re pre-qualified in about 5 minutes with no impact on your credit score.* We help you understand your options
Once you pre-qualify, you are assigned to a team of dedicated professionals who help you every step of the way. Your team helps answer your questions and walks you through the loan application process. Receive recommendations for the best financing options based on your unique business credit and financial profile. We match you with the best lender
Using our sophisticated technology platform and experience, we match you with the banks or non-bank lenders most likely to approve your loan application. Your dedicated SmartBiz team helps you stay on track throughout the financing process. About 90% of the applications referred to our trusted network are approved.
We stay with you We’re here to help you finance your business today and tomorrow. SmartBiz Advisor*, our free online tool, helps you make sure your business is well positioned to apply for future financing when you need it.
Use SmartBiz Advisor to monitor the overall financial health of your business and get a Loan Ready Score with actionable insights to help improve your standing when needed.
Who SBA 7(a) loans are for SBA loans are good for established small business owners wanting to shore up finances or expand with new inventory, additional products, or another location.
7(a) loan requirements
Following are requirement from banks in the SmartBiz network. Note that a business plan is not required.
2+ years in business Business owners must be U.S. citizens or legal permanent residents Business owners’ personal credit score above 650 (675 for SBA 7(a) commercial real estate loans) Business and personal cash flow to service all debt payments demonstrated by tax returns and interim financial data No bankruptcies or foreclosures in the last 3 years No outstanding tax liens No delinquencies and/or default on government loans Real estate must be majority owner-occupied
SBA Loans: The Bottom Line From keeping up with your seasonal payroll increase to getting money to grow your business, there are a lot of good reasons to get financing. Small businesses serve as the backbone of the U.S. economy and SBA loans provide the low cost funds that hard working entrepreneurs deserve.
*We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and happens after your application is in the funding process and matched with a lender who is likely to fund your loan.
SmartBiz - SBA Loans Made Easy - Up To $5,000,000, 4.75 - 7%! SBA, PPP, Term Loans, Grow Your Business. Refinance Business Debt. Hire Employees. Buy Inventory and More. Prequalify online in 5 minutes! Click Here To Apply!
Congress created the SBA in 1953 to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns.”
Today, SBA loan programs are more important than ever to prop up small businesses in all areas. Specialized programs have been put in place for women, minorities, and veterans. SBA also provides loans to victims of natural disasters like flooding and wildfires along with specialized help in international trade. The government agency is looking out for business owners during the 2020 pandemic.
While the words “government agency” might make you balk, the Small Business Administration’s low-cost loan programs are helping small business owners across America reach their entrepreneurial dreams. Here’s what’s available, who qualifies, and how they work.
The CDC/504 Loan Program
This program is described by the SBA as a win-win-win for the small business, the community, and participating lenders. The CDC/504 Certified Development Company Loan program conserves your working capital by requiring only a 10 percent borrower contribution. If you do not qualify for conventional financing, the SBA-backed 504 loan may be right for you.
Certified Development Companies (CDCs) are nonprofit corporations that promote economic development within their communities.
The SBA authorizes CDCs to provide financing to small businesses with the help of third-party lenders (typically banks) 504 loans.
Maximum SBA loan amount: The maximum SBA loan amount for 504 SBA loans is capped at $5 million. Certain eligible energy-efficient or manufacturing projects may qualify for more than one 504 loan up to $5.5 million each. Interest rate
Below-market interest rates are fixed for the life of the loan. The SBA sets the maximum interest banks can charge on CDC/504 loans. As of August 2020, 20 and 25-year interest rates at 2.214% and 2.269%, respectively.
Required equity
A low down payment (10 percent in most cases) conserves your working capital.
Terms
10, 20 or 25 year terms. The longer the terms, the lower monthly payments will be.
Use of proceeds
Long-term, fixed assets for expansion or modernization (usually real estate or large equipment). Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.
The CDC/504 Loan Program: How It Works
The 504 Loan Program was created to give small businesses low cost funds for expansion or modernization.
Typically, up to 50% of project costs are funded by a lender backed by the SBA. CDCs (Community Development Corporations) typically fund up to 40% of the project cost. The final 10% is a cash down payment expected to come from the borrower.
SmartBiz Loans does not offer SBA 504 loans but banks in the SmartBiz network fund SBA 7(a) loans, Bank Term Loans, and more financing options.
Who are 504 Loans For?
A 504 SBA loan might be a good fit for small business owners interested in purchasing a commercial real estate property and if their unique business circumstances fit with the public policy goals of your local CDC.
Minimum 504 Loan Requirements
Your business must be for profit, you’ll need to present a comprehensive business plan and relevant management expertise is required. Additionally, you must meet the following conditions:
Operate your business in the United States or its territories. The business net worth must be less than 15 million dollars Your business must have an average net income less than $5 million You must have the ability to repay the loan on time based on cash flow
The Microloan Program
The Microloan Program is for very small businesses, including start-ups and provides loans of up to $50,000. (Although SmartBiz Loans does not offer microloans, we do offer SBA 7(a) loans from $30,000.)
Microloan Amounts
Borrowers can apply for up to $50,000 with the average loan size funded by the SBA just $14,215 in 2016.
Microloan Interest Rates
Microloans have interest rates between 8%-13% and must be fixed rate and fixed term with regularly scheduled payments.
Collateral
Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.
Terms
Loan repayment terms vary according to several factors:
Loan amount Planned use of funds Requirements determined by the intermediary lender Needs of the small business borrower The maximum repayment term allowed for an SBA microloan is six years.
Use of Proceeds
Proceeds from an SBA Microloan can be used for most business expenses such as:
Working capital Inventory or supplies Furniture or fixtures Machinery or equipment
You cannot use a SBA microloan to refinance existing debt or to purchase real estate. If you need to refinance debt or purchase real estate, you should consider other SBA loan programs, such as a 7(a) commercial real estate loan.
How It Works
An SBA Microloan is a loan of up to $50,000 from an intermediary nonprofit to the owner of a small business or startup. The money originates from the SBA, which initially lends the money at a discounted rate to the intermediary. In other words, there’s a multi-step process.
Who Are Microloans For?
These small loans help small business owners who need less than $50,000 to strengthen and grow their business.
Microloan requirements
Check with your individual lender as requirements can vary. In general:
Credit score of at least 640 is required.
The business owner will need to either put up collateral or sign a personal guarantee.
SBA 7(a) loans
An SBA 7(a) loan is generally known as the “gold standard” in small business funding because of low rates, long terms, and very low monthly payments.
Minimum amount
Banks in the SmartBiz network fund SBA 7(a) loans from $30,000 - $5 million
Interest rate
Interest rates are variable and range from 4.75% - 7.00%
Collateral
A lien on business assets is required for SBA loans, but there is no minimum requirement for the value of those assets.
Terms
The term for an SBA 7(a) working capital loan is 10 years with low monthly payments. The term for an SBA 7(a) commercial real estate loan for purchase or refinance is 25 years with no balloon payment.
Use of proceeds
A big draw of SBA 7(a) loans is the wide use of proceeds. These include:
Debt refinancing
Working capital (includes operational expenses, marketing, hiring, etc. SBA loans can be used to fund new equipment purchases as well) SBA Commercial Real Estate loans from $500,000 – $5 million from banks in the SmartBiz network can be used for the purchase or refinance of commercial real estate that is 51% owner-occupied.
How it works
Here’s the application process for SBA 7(a) loans from banks in the SmartBiz network” We get to know you and your business Complete one online loan application through our advanced technology platform. No faxing or printing required. Discover if you’re pre-qualified in about 5 minutes with no impact on your credit score.* We help you understand your options
Once you pre-qualify, you are assigned to a team of dedicated professionals who help you every step of the way. Your team helps answer your questions and walks you through the loan application process. Receive recommendations for the best financing options based on your unique business credit and financial profile. We match you with the best lender
Using our sophisticated technology platform and experience, we match you with the banks or non-bank lenders most likely to approve your loan application. Your dedicated SmartBiz team helps you stay on track throughout the financing process. About 90% of the applications referred to our trusted network are approved.
We stay with you We’re here to help you finance your business today and tomorrow. SmartBiz Advisor*, our free online tool, helps you make sure your business is well positioned to apply for future financing when you need it.
Use SmartBiz Advisor to monitor the overall financial health of your business and get a Loan Ready Score with actionable insights to help improve your standing when needed.
Who SBA 7(a) loans are for SBA loans are good for established small business owners wanting to shore up finances or expand with new inventory, additional products, or another location.
7(a) loan requirements
Following are requirement from banks in the SmartBiz network. Note that a business plan is not required.
2+ years in business Business owners must be U.S. citizens or legal permanent residents Business owners’ personal credit score above 650 (675 for SBA 7(a) commercial real estate loans) Business and personal cash flow to service all debt payments demonstrated by tax returns and interim financial data No bankruptcies or foreclosures in the last 3 years No outstanding tax liens No delinquencies and/or default on government loans Real estate must be majority owner-occupied
SBA Loans: The Bottom Line From keeping up with your seasonal payroll increase to getting money to grow your business, there are a lot of good reasons to get financing. Small businesses serve as the backbone of the U.S. economy and SBA loans provide the low cost funds that hard working entrepreneurs deserve.
*We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and happens after your application is in the funding process and matched with a lender who is likely to fund your loan.
SmartBiz - SBA Loans Made Easy - Up To $5,000,000, 4.75 - 7%! SBA, PPP, Term Loans, Grow Your Business. Refinance Business Debt. Hire Employees. Buy Inventory and More. Prequalify online in 5 minutes! Click Here To Apply!
Tuesday, December 15, 2020
Factors to Consider When Looking for Small Business Loans, Credit Cards,...
Get Business Financing, Startup Funding, Credit Building, Unsecured Credit Lines, SBA 504 7A Loans, Micro Loans, Cash Flow Advance, Business Credit Cards And More! Save time. Get matched & Approved Today! Get Started! Click Here To Apply! Wont Impact Your Credit Score!
Wednesday, June 3, 2020
The Small Business Loan - For Cart Outlets, Retail Shops And Restaurants
Among the very lucrative, although unpredictable, business ventures these days are restaurants, retail shops, and cart outlets. Despite widespread belief it being not only a really rewarding company due to the fact that majority of the items isn’t only random and inconsistent, but they are bought from extremely low-prices, also, possibly to catch the attention of the people. Items range from toys to clothing and just about everything in between or beyond it. And also due to the variety of the items, the cart business has multiplied to grow to be a big part on the economic market, and that alone is reason enough for a few entrepreneurs to venture into this.
The good thing about these companies is the fact that despite having only a modest amount of funds, one can already start. This completely matches those who want to begin despite a limited budget. Area represents a big role within the success of cart businesses, as well as true enough, the most strategic of places happen to be targeted by merchants - from mall kiosks to theme parks to school grounds, and even corporate buildings. In a cart company, it's crucial to reach to any target demographic as wide as achievable.
Nevertheless, loan companies remain not satisfied sufficient to loosely accept applications for company loans by carting entrepreneurs. Obtaining money for capital to start an organization could certainly a dull method even just in schemes set as an alternative to little enterprise loan. Due to the lower capital base, a quick-moving money flow is required within the retail business. If your demand for a specific product rises, carting businessmen should right away improve their supply of it to retail. Corporate lenders, however, require collateral along with a excellent company personal credit line as component in the application, as a result of the fact that retail companies are subject to market changes.
Nevertheless, new financing groups are already offering alternative methods to a small business loan through having cash completed by borrowing against future earnings. In this scheme, payment is to be taken off in the receivables till the debt is compensated. Comparable to credit cards, money is accessed in a fast and handy manner, minus the hassle of needing to wait in a seemingly never ending queue, not to mention the overwhelming documentary requirements.
An alternate program in small business financing is through restaurant equipment financing, in which the loan is amortized for a term ranging from 7-25 years, depending on the nature of the loan. This loan is assured with the government, and for that reason appeals to a fair amount of purchasers. These alternative lending programs have grow to be so appealing to tiny, medium and massive companies alike, a healthy competition among financial institutions and new lending firms have turn into apparent. As with all of healthy competitions, the objective is to reduce the prices - or in this case, the standards - to cater to the most client bases feasible. That's undoubtedly a win-win on both entrepreneur and financing institutions.
If you need help with a small business loan or if you want to find an alternative to restaurant equipment financing, visit our site today.
The good thing about these companies is the fact that despite having only a modest amount of funds, one can already start. This completely matches those who want to begin despite a limited budget. Area represents a big role within the success of cart businesses, as well as true enough, the most strategic of places happen to be targeted by merchants - from mall kiosks to theme parks to school grounds, and even corporate buildings. In a cart company, it's crucial to reach to any target demographic as wide as achievable.
Nevertheless, loan companies remain not satisfied sufficient to loosely accept applications for company loans by carting entrepreneurs. Obtaining money for capital to start an organization could certainly a dull method even just in schemes set as an alternative to little enterprise loan. Due to the lower capital base, a quick-moving money flow is required within the retail business. If your demand for a specific product rises, carting businessmen should right away improve their supply of it to retail. Corporate lenders, however, require collateral along with a excellent company personal credit line as component in the application, as a result of the fact that retail companies are subject to market changes.
Nevertheless, new financing groups are already offering alternative methods to a small business loan through having cash completed by borrowing against future earnings. In this scheme, payment is to be taken off in the receivables till the debt is compensated. Comparable to credit cards, money is accessed in a fast and handy manner, minus the hassle of needing to wait in a seemingly never ending queue, not to mention the overwhelming documentary requirements.
An alternate program in small business financing is through restaurant equipment financing, in which the loan is amortized for a term ranging from 7-25 years, depending on the nature of the loan. This loan is assured with the government, and for that reason appeals to a fair amount of purchasers. These alternative lending programs have grow to be so appealing to tiny, medium and massive companies alike, a healthy competition among financial institutions and new lending firms have turn into apparent. As with all of healthy competitions, the objective is to reduce the prices - or in this case, the standards - to cater to the most client bases feasible. That's undoubtedly a win-win on both entrepreneur and financing institutions.
If you need help with a small business loan or if you want to find an alternative to restaurant equipment financing, visit our site today.
Monday, February 3, 2020
Focus is the Key to a Successful Startup
The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day. With so little to leverage, you need to make sure that the focus of your company's product offer is as razor sharp as possible.
Don't be all you can be. Be as little as you can be.
Most startup companies fail because they try to be too many things to too many people right from the onset. They think of every possible option they could load into their product offer. While this may give them the feeling of being one of the “big boys,” the grim reality is they are not. In fact by trying to be too many things from the start, these companies often end up delivering no real value at all.
Instead of trying to be all things to all people, try being one thing to all people. Think of PayPal, the highly successful startup that allowed users to e-mail money over the Internet to each other. PayPal could have chosen a million options for their offer. They could have become an on-line credit card company, an auction site, a loan provider and so on. But what made the company successful was their focus on only one offer – e-mailing money from one person to the other. PayPal did one simple thing so well that the industry giant eBay purchased them for $1.5 billion in 2002, even after eBay had already built the same service themselves. PayPal is a great example of a company keeping a sharp focus one doing on thing right even when so many great opportunities could have easily distracted them.
Bite off less than you can chew
Delivering your product to market is an amazing feat to begin with. Even still, a common problem among small companies is their inability to predict what it will take to actually support a product once it has gone to market. It’s easy to conceive complex products with lots of features. But actually bringing that product to market and supporting its use with customers is a whole different story.
Instead of trying to roll out everything and the kitchen sink in your approach to market, just roll out the sink. If you find that you can support your product just fine after it’s been successfully selling in the first year, then go ahead and add to it. It’s a lot easier to add features along the way than it is to support features you don’t have the resources for to begin with.
Your customer has a life, even if you do not. They are being constantly bombarded with marketing messages from the latest movies releases to the newest type of shampoo. They don’t have the time or energy to stop their entire day to focus on just your product. So if you are lucky enough to have ten seconds of their attention, you had better make good use of it.
The exercise of developing your value proposition in ten seconds is a great way to distill down your feature set to those items that will get people’s attention right away. If it’s not going to add value to the ten second pitch, it’s not critical to your product’s success. If you can’t get your customer’s attention with the one key benefit to your product, the rest of your features will never see the light of day to begin with.
Stay on target gold leader
Your product launch is just the beginning of keeping your focus. Once you have brought your product to market and enjoyed some early success, it may become even harder to stay focused. Now you have customers calling you and recommending (or demanding!) features to be added and services to be provided. All of these distractions make it even harder to keep you and your team focused on a single goal.
Fortunately the process of keeping your resources focused post-launch is entirely the same. You need to pick your battles and allocate your resources toward the few initiatives that will be best served to do the one thing right that is truly driving your company. Serving the needs and whims of every customer sounds great, but it can also be a terrible detour when trying to keep the forward progress of your company moving.
If at any point during your journey you’re unsure whether or not you’re spending your time and resources effectively, just ask yourself one question, “Is this driving the core benefit of our product?”. If the answer is “yes”, you’re headed in the right direction.
Don't be all you can be. Be as little as you can be.
Most startup companies fail because they try to be too many things to too many people right from the onset. They think of every possible option they could load into their product offer. While this may give them the feeling of being one of the “big boys,” the grim reality is they are not. In fact by trying to be too many things from the start, these companies often end up delivering no real value at all.
Instead of trying to be all things to all people, try being one thing to all people. Think of PayPal, the highly successful startup that allowed users to e-mail money over the Internet to each other. PayPal could have chosen a million options for their offer. They could have become an on-line credit card company, an auction site, a loan provider and so on. But what made the company successful was their focus on only one offer – e-mailing money from one person to the other. PayPal did one simple thing so well that the industry giant eBay purchased them for $1.5 billion in 2002, even after eBay had already built the same service themselves. PayPal is a great example of a company keeping a sharp focus one doing on thing right even when so many great opportunities could have easily distracted them.
Bite off less than you can chew
Delivering your product to market is an amazing feat to begin with. Even still, a common problem among small companies is their inability to predict what it will take to actually support a product once it has gone to market. It’s easy to conceive complex products with lots of features. But actually bringing that product to market and supporting its use with customers is a whole different story.
Instead of trying to roll out everything and the kitchen sink in your approach to market, just roll out the sink. If you find that you can support your product just fine after it’s been successfully selling in the first year, then go ahead and add to it. It’s a lot easier to add features along the way than it is to support features you don’t have the resources for to begin with.
Your customer has a life, even if you do not. They are being constantly bombarded with marketing messages from the latest movies releases to the newest type of shampoo. They don’t have the time or energy to stop their entire day to focus on just your product. So if you are lucky enough to have ten seconds of their attention, you had better make good use of it.
The exercise of developing your value proposition in ten seconds is a great way to distill down your feature set to those items that will get people’s attention right away. If it’s not going to add value to the ten second pitch, it’s not critical to your product’s success. If you can’t get your customer’s attention with the one key benefit to your product, the rest of your features will never see the light of day to begin with.
Stay on target gold leader
Your product launch is just the beginning of keeping your focus. Once you have brought your product to market and enjoyed some early success, it may become even harder to stay focused. Now you have customers calling you and recommending (or demanding!) features to be added and services to be provided. All of these distractions make it even harder to keep you and your team focused on a single goal.
Fortunately the process of keeping your resources focused post-launch is entirely the same. You need to pick your battles and allocate your resources toward the few initiatives that will be best served to do the one thing right that is truly driving your company. Serving the needs and whims of every customer sounds great, but it can also be a terrible detour when trying to keep the forward progress of your company moving.
If at any point during your journey you’re unsure whether or not you’re spending your time and resources effectively, just ask yourself one question, “Is this driving the core benefit of our product?”. If the answer is “yes”, you’re headed in the right direction.
Friday, January 24, 2020
Business Start up Loans: Easy Way To Start A Small Business
Getting a loan for starting a business is not an easy task as collateral requirements and a well laid business plan are essential for the loan. Availing these loans is a long and tedious process. Banks are reluctant in giving loans to new entrepreneurs as the risk involved is very high. A business start up loans helps an entrepreneur in several ways. The money procured can be used as initial capital investment or can be used to purchase or renovate a building. The money can also be used for advertising by flaunting banners, distributing business cards, announcing on radio and television, starting a website.
This finance availed through loans can be used to purchase new equipments and tools. These business loans are crafted to make available the required funds that are needed to start a new business. These loans can be financed through any banks or lending institutions
Business start up loans are short term loans designed for meeting short term working capital requirements by a business. These loans are generally paid back within a year. There are several long term business start up loans which are availed by many business owners with an establish business and who wish to expand their business and grow or may want to purchase fixed assets. The repayment period of these loans is much longer which ranges from 3 to 5 years.
Bank lending is based on the entrepreneurs ability to pay back the loan rather than the security he offers against the loan. Here credit rating and history plays an important role. Entrepreneurs with good credit history get better benefits over people with bad credit history. It is possible for the applicants to chose the terms and conditions of repayment of loans. The can extend the repayment period if they find it difficult to pay off the loan on the due date.
The major benefit is that the funds are available without getting into credit verification. No formalities are done to know your prior financial dealings. Poor credit issues like late payments, arrears, CCJs, IVA, bankruptcy etc can also get the funds without difficulty.
This finance availed through loans can be used to purchase new equipments and tools. These business loans are crafted to make available the required funds that are needed to start a new business. These loans can be financed through any banks or lending institutions
Business start up loans are short term loans designed for meeting short term working capital requirements by a business. These loans are generally paid back within a year. There are several long term business start up loans which are availed by many business owners with an establish business and who wish to expand their business and grow or may want to purchase fixed assets. The repayment period of these loans is much longer which ranges from 3 to 5 years.
Bank lending is based on the entrepreneurs ability to pay back the loan rather than the security he offers against the loan. Here credit rating and history plays an important role. Entrepreneurs with good credit history get better benefits over people with bad credit history. It is possible for the applicants to chose the terms and conditions of repayment of loans. The can extend the repayment period if they find it difficult to pay off the loan on the due date.
The major benefit is that the funds are available without getting into credit verification. No formalities are done to know your prior financial dealings. Poor credit issues like late payments, arrears, CCJs, IVA, bankruptcy etc can also get the funds without difficulty.
Saturday, July 27, 2019
Business Startup Financing. Basic Rules for Startup Loan Funding
Business startup financing in Canada. Whether it's traditional, alternative, or just plain creative Canadian entrepreneurs want to know some of those ' basic rules' for ' cracking the code' to finance success.
Let's explore some of those methods - and by the way some of these solutions can also help you grow an existing company.
With decreasing number of jobs and few solutions at work, the best suggestion to the people who face this problem is to start their own business. Although might be economic turbulence, but starting a business of your own is surely a path of financial recovery.
There are few tips for the people who have a plan of low cost business startups. Making a big investment is not always necessary. If you do not have such a great amount to invest, it is better starting with a small investment. Here are the tips that can help you in doing so:
It is good that you have planned to start a business of your own, but it is essential that you must be clear in yourself. You must be clear about your aim and must possess the answer of the question that why you want to start a business of your own.
You must be determined that what type of business you want to start with. Never ever think of doing investment in something that is new to you.
Doing something like that is full of risks and you have to go blindly towards a direction about which you are not at all sure. It is essential that the business you are planning to start should be familiar to you. It should not be like hit and trial case.
Planning is most important in any business. Most of the aspiring business people believe that they have to sit down for hours and make a lengthy business plans clearly showing the amount of money that you will make in the coming years.
There is no need of keeping such complexity as it will become difficult for you to understand. The business plan should be simple and precise.
Something that has great importance for any business is the customers. So, one should be clear with the customers that he as to target. Their preferences, thinking, liking, everything matters a lot to you.
You have search everything about your target audience, what they like and what they do not like about the business that you are plan to start.
Prices are something that attracts everybody. It might be possible that a person do not have any interest in the product in which you deal, but looking at the genuine prices, he can start taking interest as he find it beneficial in one way or the other.
Always compare your prices with your competitors and make sure that you are providing genuine rates, keeping quality at the topmost priority.
The next thing, which has importance of its own, is to reach your target customer through proper advertising and promotion.
Advertising has great significance as it is the only way of telling people about your productArticle Search, introducing them what it is all about and how your product is different from the other similar existing products.
It is good to follow such tips when you are new to a business and doing it for the first time.
Let's explore some of those methods - and by the way some of these solutions can also help you grow an existing company.
With decreasing number of jobs and few solutions at work, the best suggestion to the people who face this problem is to start their own business. Although might be economic turbulence, but starting a business of your own is surely a path of financial recovery.
There are few tips for the people who have a plan of low cost business startups. Making a big investment is not always necessary. If you do not have such a great amount to invest, it is better starting with a small investment. Here are the tips that can help you in doing so:
It is good that you have planned to start a business of your own, but it is essential that you must be clear in yourself. You must be clear about your aim and must possess the answer of the question that why you want to start a business of your own.
You must be determined that what type of business you want to start with. Never ever think of doing investment in something that is new to you.
Doing something like that is full of risks and you have to go blindly towards a direction about which you are not at all sure. It is essential that the business you are planning to start should be familiar to you. It should not be like hit and trial case.
Planning is most important in any business. Most of the aspiring business people believe that they have to sit down for hours and make a lengthy business plans clearly showing the amount of money that you will make in the coming years.
There is no need of keeping such complexity as it will become difficult for you to understand. The business plan should be simple and precise.
Something that has great importance for any business is the customers. So, one should be clear with the customers that he as to target. Their preferences, thinking, liking, everything matters a lot to you.
You have search everything about your target audience, what they like and what they do not like about the business that you are plan to start.
Prices are something that attracts everybody. It might be possible that a person do not have any interest in the product in which you deal, but looking at the genuine prices, he can start taking interest as he find it beneficial in one way or the other.
Always compare your prices with your competitors and make sure that you are providing genuine rates, keeping quality at the topmost priority.
The next thing, which has importance of its own, is to reach your target customer through proper advertising and promotion.
Advertising has great significance as it is the only way of telling people about your productArticle Search, introducing them what it is all about and how your product is different from the other similar existing products.
It is good to follow such tips when you are new to a business and doing it for the first time.
Tuesday, April 2, 2019
Acquisition And Development Financing
Acquisition and development financing involving a SBA "Certified Development Company" (CDC) provides you with long-term, fixed-rate financing for major fixed assets (land, buildings, etc.).
This program contributes to community economic development. The CDC works with commercial lenders to provide financing to businesses.
This program includes a loan from a commercial lender that covers 50% percent of the project and a second loan for up to 40% of the project cost from the CDC that is 100% SBA guaranteed for a combined 90% LTV.
Funding from this program can be used for:
Purchasing land and improvements, including existing buildings
Grading, street improvements
Utilities, parking lots and landscaping
Construction of new facilities
Modernizing, renovating or converting existing facilities
Purchasing long-term machinery and equipment
The loan program cannot be used for: Working capital or inventory, consolidating or repaying debt, or refinancing.
This program contributes to community economic development. The CDC works with commercial lenders to provide financing to businesses.
This program includes a loan from a commercial lender that covers 50% percent of the project and a second loan for up to 40% of the project cost from the CDC that is 100% SBA guaranteed for a combined 90% LTV.
Funding from this program can be used for:
Purchasing land and improvements, including existing buildings
Grading, street improvements
Utilities, parking lots and landscaping
Construction of new facilities
Modernizing, renovating or converting existing facilities
Purchasing long-term machinery and equipment
The loan program cannot be used for: Working capital or inventory, consolidating or repaying debt, or refinancing.
Friday, February 15, 2019
SBA Commercial Loan
SBA Commercial Loan - Growing your business!
SBA commercial loan funding is just what the Small Business Adminstration is about. So, if you are thinking about borrowing money (debt financing) from a bank, but are unable to . . . then consider obtaining financing from the Small Business Administration (SBA).
What does that mean? This federal agency loans no money itself, but instead guarantees 75 percent of individual loans made by private lenders, up to $750,000 (making the maximum loan amount $1 million).
How does this happen? When you go to a bank to ask for a loan, they need sufficient collateral from you or your request will be rejected.
What is the criteria? All business owners (or sharholders) that have twenty percent (20%) or more ownership are required to personally guarantee SBA loans.
The SBA also considers your good character, management capability, and owner's equity contribution.
SBA commercial loan funding is just what the Small Business Adminstration is about. So, if you are thinking about borrowing money (debt financing) from a bank, but are unable to . . . then consider obtaining financing from the Small Business Administration (SBA).
What does that mean? This federal agency loans no money itself, but instead guarantees 75 percent of individual loans made by private lenders, up to $750,000 (making the maximum loan amount $1 million).
How does this happen? When you go to a bank to ask for a loan, they need sufficient collateral from you or your request will be rejected.
What is the criteria? All business owners (or sharholders) that have twenty percent (20%) or more ownership are required to personally guarantee SBA loans.
The SBA also considers your good character, management capability, and owner's equity contribution.
Finance Your Business With 401k Funds
In today's complicated economic environment, traditional funding sources have dried up, making it almost impossible to find working or startup capital.
An excellent "non-traditional" financing source is an IRA, a 401(k) or other roll-able retirement funds.
Guidant Financial Group can provide you with access to your IRA or 401k funds tax and penalty free to invest in a business or franchise.
You can use retirement funds to purchase a new business, inject new capital into an existing business, purchase inventory, pay employees, and so on.
You can also use the funds in combination with SBA and Unsecured loans, or use them as a down payment for a larger loan.
Eliminate the need for debt-financing Use as a down payment to secure other financing Enjoy tax-deferred profits by directing them back to your 401(k) Draw a salary and receive other benefits as the business owner Employ family members
If You Have Over $40,000 Across IRA/401k Accounts: Get Your Free Consultation Now.
To receive a free consultation about funding your business with 401k/IRA Funds, please fill out the form by CLICKING HERE.
An excellent "non-traditional" financing source is an IRA, a 401(k) or other roll-able retirement funds.
Guidant Financial Group can provide you with access to your IRA or 401k funds tax and penalty free to invest in a business or franchise.
You can use retirement funds to purchase a new business, inject new capital into an existing business, purchase inventory, pay employees, and so on.
You can also use the funds in combination with SBA and Unsecured loans, or use them as a down payment for a larger loan.
Eliminate the need for debt-financing Use as a down payment to secure other financing Enjoy tax-deferred profits by directing them back to your 401(k) Draw a salary and receive other benefits as the business owner Employ family members
If You Have Over $40,000 Across IRA/401k Accounts: Get Your Free Consultation Now.
To receive a free consultation about funding your business with 401k/IRA Funds, please fill out the form by CLICKING HERE.
Thursday, December 20, 2018
10 Must-Ask Questions Before Getting an SBA Loan With Your Bank
If you are set on working with your local bank, here is a set of 10 questions from industry insiders that you must ask your bank before committing to the SBA loan application process with them:
1.What percentage of applicants get a loan after starting the application process with you?
2.How many other businesses have you had experience working with in the industry I am pursuing?
3.Are you the one who makes the final loan approval decision? If not, can I get a pre-qualification directly from a credit decision maker?
4.How many SBA loans have you personally closed and funded?
5.Can you give me some recent referrals of clients you worked with?
6.What was the bank’s SBA loan volume in the last SBA fiscal year?What is the bank’s average SBA loan size?
7.How can I be sure that I get the best terms possible if I only submit my loan to you?
8.Do you do a hard-pull of my credit score for pre-qualifications? When is the hard pull done?
9.Will I have “restrictive covenants” in my loan agreement and will I be required to have my business deposit accounts at your bank? Will I be required to have personal accounts with your bank?
10.Will I be able to keep my business credit card accounts open?
YourSBA.com vs Your Bank
Why are we 5x more successful than your local bank?
YourSBA.com was founded to tackle some of the toughest challenges that come with trying to get SBA financing through a bank: piles of paperwork, vague answers, false promises, and lengthy waits, only to find out you won’t be getting the loan you were initially promised and pre-qualified for. At YourSBA.com, we have made significant changes that allow us to be over 95% successful in securing our clients’ loans, compared to the 15% success rate of a bank.
We discussed in detail the difference between applying for an SBA loan with your loan bank compared to applying with YourSBA.com, but here is a brief summary:
•A typical bank has about a 15% success rate after initial pre-qualification for a number of reasons:•banks freely give out pre-qualifications in order to get you off the streets,
•the person issuing the pre-qualification is not the credit decision maker,
•banks have very limited credit boxes,
•and banks leave it to you to prepare your application and convince them to lend to you.
•In contrast, YourSBA.com has made a number of changes that allow us to be nearly 100% successful in securing our clients’ loans after initial pre-qualification:•we only pre-qualify something if we are very confident in our ability to get it done,
•we only work directly with credit decision makers,
•we have partnerships and access to many different credit boxes,
•and we spend a lot of time elegantly preparing your application.
HOW DO I GET STARTED?
YourSBA.com offers a suite of loan calculators for SBA loans and other funding sources here. You can automatically estimate your down payment requirement, monthly loan payments, SBA borrowing limit, and more.
See if you qualify for an SBA loan by taking just a few minutes to give us some basic information here. The pre-approval process takes less than one day and does not require a hard credit pull.
1.What percentage of applicants get a loan after starting the application process with you?
2.How many other businesses have you had experience working with in the industry I am pursuing?
3.Are you the one who makes the final loan approval decision? If not, can I get a pre-qualification directly from a credit decision maker?
4.How many SBA loans have you personally closed and funded?
5.Can you give me some recent referrals of clients you worked with?
6.What was the bank’s SBA loan volume in the last SBA fiscal year?What is the bank’s average SBA loan size?
7.How can I be sure that I get the best terms possible if I only submit my loan to you?
8.Do you do a hard-pull of my credit score for pre-qualifications? When is the hard pull done?
9.Will I have “restrictive covenants” in my loan agreement and will I be required to have my business deposit accounts at your bank? Will I be required to have personal accounts with your bank?
10.Will I be able to keep my business credit card accounts open?
YourSBA.com vs Your Bank
Why are we 5x more successful than your local bank?
YourSBA.com was founded to tackle some of the toughest challenges that come with trying to get SBA financing through a bank: piles of paperwork, vague answers, false promises, and lengthy waits, only to find out you won’t be getting the loan you were initially promised and pre-qualified for. At YourSBA.com, we have made significant changes that allow us to be over 95% successful in securing our clients’ loans, compared to the 15% success rate of a bank.
We discussed in detail the difference between applying for an SBA loan with your loan bank compared to applying with YourSBA.com, but here is a brief summary:
•A typical bank has about a 15% success rate after initial pre-qualification for a number of reasons:•banks freely give out pre-qualifications in order to get you off the streets,
•the person issuing the pre-qualification is not the credit decision maker,
•banks have very limited credit boxes,
•and banks leave it to you to prepare your application and convince them to lend to you.
•In contrast, YourSBA.com has made a number of changes that allow us to be nearly 100% successful in securing our clients’ loans after initial pre-qualification:•we only pre-qualify something if we are very confident in our ability to get it done,
•we only work directly with credit decision makers,
•we have partnerships and access to many different credit boxes,
•and we spend a lot of time elegantly preparing your application.
HOW DO I GET STARTED?
YourSBA.com offers a suite of loan calculators for SBA loans and other funding sources here. You can automatically estimate your down payment requirement, monthly loan payments, SBA borrowing limit, and more.
See if you qualify for an SBA loan by taking just a few minutes to give us some basic information here. The pre-approval process takes less than one day and does not require a hard credit pull.
Tuesday, December 18, 2018
Don't Delay Building Business Credit Scores and Getting Business Financing Underway
What stage is your business in? Just Starting? Existing? Buying a Business?
Just Starting a Business... Then building business credit is perfect for you. It's critical for newer businesses to have access to credit and capital. Inside our system you will be able to start out on the right foot and give your new business every financial advantage. Simply enroll to get started.
Have an Existing Business... Even if you've been in business for 10 years you may not have a business credit profile! Whether you do or not, our system will instantly show you the current status of your business credit profile and then quickly walk you through the next steps to either establish, optimize or fix it.
Buying a Business or Franchise... If you are buying a business you should first form a new entity for the purchase. Legal formations partner can help! Then you'll want the new business to have strong business credit scores so that once your sale closes, you are ready to jump right in.
Build strong business credit scores the fastest possible way with all three agencies and make thousands of dollars in credit available to your business!
For lenders to approve you there are 20 compliance items that need to be completed first. Your business must have completed all 20 compliance items before lenders can approve your business financing request.
Lenders want your business to have open files and good scores with all 3 national reporting agencies. Your business must have a file open with all three national business credit agencies; Experian Smart Business Reports, Equifax Small Business Financial Exchange and Dun & Bradstreet. We get them set-up fast.
Your business must have 5 vendor lines of credit that report credit history. There are over 500,000 vendors extending credit, but only 6,000 that report to the business credit agencies. You can obtain thousands of dollars in vendor credit lines, not based on your personal credit.
Your business must have 3 business credit cards that report. There are over 500 business credit cards, but only 40 will issue a card without using your social security #. You can get approved for thousands of dollars in business credit cards that do not appear on personal credit reports.
Once you have built strong business credit scores you can access much more financing. We show how to get approved for your first business bank loan. A reporting bank loan puts your business "on the map" as far as every other business lender is concerned. Then hundreds of thousands in business finance and lending starts to become available: vehicle financing, equipment leases, and true business loans and lines of credit.
Just Starting a Business... Then building business credit is perfect for you. It's critical for newer businesses to have access to credit and capital. Inside our system you will be able to start out on the right foot and give your new business every financial advantage. Simply enroll to get started.
Have an Existing Business... Even if you've been in business for 10 years you may not have a business credit profile! Whether you do or not, our system will instantly show you the current status of your business credit profile and then quickly walk you through the next steps to either establish, optimize or fix it.
Buying a Business or Franchise... If you are buying a business you should first form a new entity for the purchase. Legal formations partner can help! Then you'll want the new business to have strong business credit scores so that once your sale closes, you are ready to jump right in.
Build strong business credit scores the fastest possible way with all three agencies and make thousands of dollars in credit available to your business!
For lenders to approve you there are 20 compliance items that need to be completed first. Your business must have completed all 20 compliance items before lenders can approve your business financing request.
Lenders want your business to have open files and good scores with all 3 national reporting agencies. Your business must have a file open with all three national business credit agencies; Experian Smart Business Reports, Equifax Small Business Financial Exchange and Dun & Bradstreet. We get them set-up fast.
Your business must have 5 vendor lines of credit that report credit history. There are over 500,000 vendors extending credit, but only 6,000 that report to the business credit agencies. You can obtain thousands of dollars in vendor credit lines, not based on your personal credit.
Your business must have 3 business credit cards that report. There are over 500 business credit cards, but only 40 will issue a card without using your social security #. You can get approved for thousands of dollars in business credit cards that do not appear on personal credit reports.
Once you have built strong business credit scores you can access much more financing. We show how to get approved for your first business bank loan. A reporting bank loan puts your business "on the map" as far as every other business lender is concerned. Then hundreds of thousands in business finance and lending starts to become available: vehicle financing, equipment leases, and true business loans and lines of credit.
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