Small Business Owners
Why Your Spouse May Be The Key To Unlocking An SBA Guaranteed Loan
What if I told you that your spouse may be the key to unlocking an approval for an SBA guaranteed loan? Could this be true? Why yes it is true, let me explain… Credit Analysis When lenders analyze an applicant’s ability to repay a requested loan, their number one objective is to identify the primary …
The Pitfalls of SBA Guaranteed Financing
This might sound like an odd title for an article written by a person who just left a stable paycheck to start an SBA focused loan brokerage. That’s me! Ha, ha! But if I’m being honest, which is my goal, I have to admit that SBA guaranteed financing is not for everyone. Here are four …
Is It Better To Own Or Lease Office Space?
Starting, operating and growing a business is no easy task. In fact, most entrepreneurs fail to build a sustainable business and quit. For those entrepreneurs who succeed, they find themselves faced with an exciting but tough decision. Is it better to lease or own their office space? Like many decisions, there are positives and negatives …
SBA Guaranteed Loan Eligibility Requirements Made Simple
Qualifying for a Small Business Administration (SBA) guaranteed loan requires the added first step of determining whether you and your company meet the SBA’s eligibility requirements. Knowing whether you meet the eligibility requirements can be complicated but don’t worry, we’ve made it simple by listing common causes for individuals, businesses and use of proceeds to …
Simplifying The SBA Loan Application Process
The Small Business Administration (SBA) is a federal guarantee program designed to incentivize banks to make loans to small businesses that are considered high risk. The SBA is not a direct lender. That means the SBA mitigates risk for participating banks by guaranteeing up to 75% of the outstanding principal loan balance. In case of …
Five Steps To Improving Your Commercial Loan Application
No one applies for a loan thinking they’ll be declined but it happens everyday. Familiar Territory It goes something like this. You’re at your desk making plans for that newly minted line of credit you’ve applied for when suddenly you feel the familiar vibration of your phone against your leg, It’s your banker. You’re a …
Five Things Small Business Owners Do That Keep Them Small
I’ve never met a small business owner who wanted to stay small. On the other hand, I’ve met more than my share that do things everyday to ensure they will stay small. So if you’re a small business owner that has been small for too long pay attention to the following five things small business …