For many entrepreneurs, writing a business plan is one of the most daunting parts of applying for a business loan. With that in mind, today we take a closer look at SBA loan business plan requirements, including the structure of the two most common types of business plans. What Is a Business Plan? Simply put,…
If you’re looking to take out an SBA loan, one of the first things to do is to be aware of the requirements you have to meet. In today’s post, we discuss the requirements for the two most popular SBA lending programs: 504 loans and 7(a) loans. Keep reading to learn more. SBA Loan Requirements:…
According to the most recent data from the California Employment Development Department, there are more than 1.2 million firms in California. Of course, not all these businesses are the same. Some organizations are bigger than others. Some have an impeccable financial track record while others have a checkered credit history — or no credit history…
A business plan is essential to steer your business in the right direction and achieve success. But do you need a business plan to apply for an SBA commercial loan? Keep reading to find out. What Is a Business Plan? First things first, so before delving into the details, let’s define what a business plan…
If you are considering business financing options, chances are good that SBA loans and conventional loans are at the top of your list. But what are the differences between these two types of loans and which is the option that works for you? Keep reading to find out. What Are SBA Loans? The most important…
When you need a large amount of money to purchase real estate or fixed assets, 504 loans are the answer. Here’ what you need to know about this useful financing solution. What Are 504 Loans? 504 loans provide long-term financing for major business purchases, like real estate or large equipment. With fixed rates and repayment…
504 loans are one of the most popular SBA lending programs. But how exactly can small business owners use a 504 loan? How Can I Use a 504 Loan? First off, let’s define what a 504 loan is. According to the SBA, 504 loans provide long-term financing to purchase major fixed assets that promote growth…
Chances are good that you have already heard about SBA loans. You probably know that they are particularly convenient because they are designed with the needs of small business owners in mind. But how do SBA loans work, really? Keep reading and discover the answer. How Do SBA Loans Work? Before we delve into the…
Looking to apply for an SBA loan? Here are three easy tips to simplify the process and keep your stress levels to a minimum. Taking out a business loan can seem like a complicated process but don’t worry — a few helpful pointers can make a big difference and put you one step ahead of…
While SBA loans are a powerful financing alternative for business owners, they can also be confusing to the uninitiated. If you are new to the world of SBA loans, don’t worry. This essential glossary will help you make sense of it all. 7(a) Loans This is SBA’s most common loan program and the best alternative…
