4 December 2008 - by davidguide
SBA Loans
Explanation: The Small Business Administration is an independent agency of the federal government. Its mission is to help people start, build and grow businesses. The SBA does not actually supply the loan; lenders are responsible for that part. But the SBA guarantees between 50 to 85 percent of the loan, making the lender less wary of lending to riskier borrowers. The SBA does this by backing and securing loans that are given by banks.
Requirements/Documentation: Applicants of SBA loans will be required to provide a business profile, loan request, collateral, business financial statements and personal financial statements. Read the rest…
4 December 2008 - by davidguide
If you answer yes to any of the following questions, you may want to consider looking into getting a business loan.
1. Is the amount of your current assets minus the amount of your current liabilities a negative number?
Subtracting your current liabilities from your current assets will show you how much working capital your business currently has. Working capital is generally the money that can be used to put back into your business in order to advance your business. Businesses not only need working capital to expand, but sometimes, working capital may be necessary to stay afloat. Read the rest…
