The lending landscape in 2024 is expected to see a focus on several key compliance trends. Let’s review some of the most important. Increased Focus on Beneficial Ownership: Authorities are intensifying efforts to identify the true owners (beneficial owners) behind companies and accounts. Expect stricter rules and enhanced Customer Due Diligence (CDD) to uncover beneficial…
Starting a business is a thrilling venture that promises new challenges and rewards. However, the path to entrepreneurship is paved with critical steps that can determine the future success of your endeavor. From ideation to the launch, there are several pivotal actions you must undertake to lay a solid foundation for your business. Here are…
For medium-sized businesses looking to expand operations, purchase new equipment, or increase working capital, securing an SBA (Small Business Administration) loan can be a viable financing option. The SBA provides a variety of loan programs that are designed to support the growth and stability of small and medium-sized businesses. However, navigating the SBA loan process…
Construction companies often experience challenges when it comes to financing their projects. Fortunately, there are now powerful tools available in the form of SBA loans. In this blog post, we explain the basics of SBA loans and why they are an excellent solution for construction companies. Construction Companies and Business Loans While every construction company…
The two most common types of business loans are fixed-rate and variable-rate loans. As a business owner, it’s crucial to understand the differences between these two loan types so you can make an informed decision. In this blog post, we’ll discuss the pros and cons of each type and provide information that can help you…
Purchasing land is an essential part of many business ventures. With that in mind, in today’s blog post, we dive into the details of what you need to know about using an SBA 504 loan to buy land. Can You Use an SBA 504 Loan To Buy Land? Yes, you can use an SBA 504…
While there are a number of financing options available to franchises, one avenue that’s worth considering is the SBA 7(a) loan. In this blog post, we’ll take a closer look at the SBA 7(a) loan program, how it works, and how it can help you finance your franchise. What is an SBA 7(a) Loan? First,…
If you are an entrepreneur in the restaurant industry, then you need to be aware of all the financing options at your disposal. Among these alternatives, SBA 504 loans are one of the most convenient and effective. Let’s see why. Understanding SBA 504 Loans The 504 loan program is a type of loan that the…
When you consider financing alternatives, one of the main variables you need to assess is the term of the loan. So, if you are thinking about taking out an SBA loan, chances are good that you are asking yourself: “How long are SBA loans?” Well, you’ve come to the right place: read on to find…
As we have explained in previous posts, 504 loans were designed to purchase land, facilities, or long-term machinery. But can you use a 504 SBA loan for renovations? Keep reading to discover the answer. Can you Use a SBA 504 Commercial Loan for Renovations? The short answer is yes, you can use a 504 loan…
