If you are looking for a way to finance your small business, you might consider applying for an SBA loan. The SBA (Small Business Administration) has several loan programs meant specifically for small business ventures. Whether you need working capital, money to buy premises or equipment, or a business line of credit, there are SBA loan programs to suit you.
So how can you go about applying for an SBA loan? Consider the steps listed below as your roadmap to the loan programs that the SBA offers.
Think about eligibility
Just because you are a small business doesn’t mean you are eligible for an SBA loan. Banks typically can’t approve SBA loans if your FICO credit score is below 680, you haven’t been in business for more than two years, or if your business isn’t turning a profit.
Go to a bank that works with SBA loans
Do a Google search of banks in your area and find one that advertises itself as a lender that works with SBA loans. While most banks can accept your SBA loan application, you want to find one where the bankers are experienced buy gabapentin online with the process. They will be able to advise you and will know how to work through the process quickly and efficiently.
Assemble the materials you need
You need firepower when you go to apply for an SBA loan, starting with everything on the SBA’s loan application checklist. An application for the type of loan you want is just the tip of the iceberg. You also need information about your business’s finances, tax returns, business licenses or certificates, and more.
You also need a business plan—one that includes details about your company’s goals, vision, and financial projections. A bank, like any investor, is not going to give you any money if there is little chance of that money being paid back. A business plan will help convince the bank that your business has what it takes to succeed and is worthy of an SBA loan.
At Bargain Business Plan, we can help you prepare the perfect business plan for your SBA loan application process. Call us today at (800) 866-9971 for a free consultation.
Terms of Service:
Client and Bargain Business Plan (“BBP”) agree to the following terms and conditions:
1. Services. BBP shall prepare a business plan (“Business Plan”) for Client upon the terms and conditions set forth herein.
2.1 Payment in Full: Client shall pay BBP in full prior to commencement of or preparation of the Business Plan by BBP.
2.2 Split Payment Option: BBP will offer Client the opportunity of choosing a split payment option. Should client choose the
split payment option, the following payment schedule will apply:
i. Client shall pay BBP 50% of the full amount due prior to commencement of or preparation of the Business Plan by BBP.
ii. Client shall pay the remaining balance due upon completion of the Business Plan or 30 days after the first draft of the
Business Plan is delivered to Client (through electronic mail or any other method), whichever is sooner. BBP is
authorized to process the remaining balance due at that time.
iii. A valid credit card is required for all accounts unless waived by a BBP manager. Client agrees to pay any fees,
commissions, and/or costs associated with any action instituted for the collection of monies due BBP for services
3. Revisions. Revisions to the Business Plan will be completed free of charge for a period of 30 days after the first draft of the
Business Plan is delivered to Client (through electronic mail or any other method). Any changes beyond the 30 day period will
have an additional charge depending on the nature of the change.
4. Confidentiality. Except as otherwise required by law, or unless Client grants express written consent, at any time during or
subsequent to the preparation of the Business Plan, BBP agrees to keep confidential and not to disclose to any party any of
Client’s confidential information, including, but not limited to the nature of the services being performed by BBP, the terms and
conditions herein, any data submitted to BBP by Client, and any data regarding Client obtained by BBP in the course of
preparing the Business Plan, without the prior written approval of Client, which may be withheld in Client’s sole discretion.
Confidential information excludes information that: (i) becomes generally publicly available other than as a result of disclosure
by BBP; (ii) becomes available to the BBP on a non-confidential basis from a third party that is not bound by a similar duty of
confidentiality; or (iii) is in the lawful possession of BBP prior to disclosure by Client.
5. No Personal Liability. Neither the BBP nor its directors, officers, employees, agents, subcontractors, and representatives
(collectively, “Representatives”), shall be personally liable, whether directly or indirectly, by reason of any default by BBP or its
Representatives in the performance of any of the obligations of BBP or its Representatives herein.
6. LIMITATION OF LIABILITY. IN NO EVENT WILL BBP, OR ITS REPRESENTATIVES BE LIABLE FOR (I) ANY INCIDENTAL,
CONSEQUENTIAL, OR INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFIT(S), BUSINESS
INTERRUPTION, DENIAL AND LOSS OF LOANS AND INVESTMENTS, AND THE LIKE) ARISING OUT OF THE USE OF OR INABILITY TO
USE THE SERVICE, OR ANY INFORMATION OR TRANSACTIONS PROVIDED ON THE SERVICE, OR ANY DELAY OF SUCH
INFORMATION OR SERVICE, EVEN IF BBP OR ITS REPRESENTATIVES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES, OR (II) ANY CLAIM ATTRIBUTABLE TO ERRORS, OMISSIONS, OR OTHER INACCURACIES IN THE SERVICE AND/OR
MATERIALS OR INFORMATION THROUGH THE SERVICE PROVIDED BY BBP. BECAUSE SOME STATES MAY NOT ALLOW THE
EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH STATES BBP'S LIABILITY IS
LIMITED TO THE GREATEST EXTENT PERMITTED BY LAW.
7. Entire Agreement. This represents the entire agreement between the Parties and supersedes and cancels all other contracts,
agreements, representations and understandings between the Parties, whether written or oral, expressed or implied, with
respect to the subject matter hereof. These terms and conditions may not be modified or amended except in writing signed by
authorized representatives of both Parties
8. Execution. This agreement may be executed in one or more counterparts, in electronic form, at different times and places.
When Parties have executed, either physically or electronically, a counterpart of this agreement, it shall be binding on all Parties
notwithstanding that all of them may not have signed the same counterpart. A facsimile or other