About Us

About Us
We at Bargain Business Plan have worked directly with thousands of entrepreneurs and business owners like you to develop and execute strategic business plans.

Contact Info

303 Glenoaks Blvd Suite 200 Burbank, CA 91502

+1 (800) 866-9971

info@bargainbusinessplan.com

SBA Funding

What is SBA Funding?

Also known as “Small Business Administration” is an agency that assists and supports small businesses and entrepreneurs by granting them loans from banks and lenders. The agency doesn’t directly loan money to the business. It eliminates some of the risks to the lending partners.

How does SBA work?

The loans are made through banks, credit unions, and other lenders (the lender makes the loan and SBA will repay up to 85% of any loss in case of default.) Since it is a bank loan, the loan payments are paid to the bank.

What are the requirements for eligibility for an SBA?

  • Your business must have fewer than 500 employees. Only small businesses qualify.
  • Must have invested equity.
  • A new income under $5m.
  • Must be registered as a for-profit business.
  • The business must be located in the United States

How can I qualify for an SBA?

5 things you need for SBA’s:

1.)  A good credit score

2.) A strong foundation for a business plan: includes current and projected financials, along with proving that you are eligible and enough cash flow to cover ongoing business expenses along with potential new loan payments. Your business should also include:

  • Management team
  • Marketing strategy
  • Facilities and operations plan
  • Industry analysis

You must also provide collateral. Collateral is an asset, such as real estate, or inventory, that can be sold by the lender if you can’t make your payments. It’s basically an emergency way lenders can recover their money if your business fails. You must have sufficient collateral security on all loans, guaranteeing at least 20% of your business.

What can SBA’s be used for?

SBA’s can be sued for most businesses, such as:

  1. start-ups
  2. inventory
  3. real estate
  4. expansions

For further information, contact us for a free consultation regarding your future business!

Vanessa is a content manager for several business companies. Working as an amateur journalist during the day and a business content writer during night, she manages to stay afloat by keeping herself busy with research of new innovations taking the market by success.

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#1 Business Plan Company

Our approach is simple. We take the time to get to know our clients, so that we can effectively develop a custom business plan which will meet your needs. Whether you’re in the conception stage of your business or expanding your brand to a new market, our team of business plan writers and consultants will work to ensure you’re in position to succeed.




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