The SBA has several options for small business owners in need of a business loan for real estate. Of the six types of SBA loans, 7(a) loans and 504 loans are the two most viable options for real estate purchases.
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Jul 20, 2021
Filed under: Business Loans
The SBA launched the SBA Community Advantage loan program to help businesses in underserved areas receive low-interest financing with reasonable terms. Business owners that can’t receive financing through traditional loan programs can take advantage of competitive rates and terms through this SBA pilot program.
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Credit bureaus arose to help lenders quickly gauge the reliability of a potential borrower. In the past, you could go to the good ol’ general store and the owner would know you, your character, and whether or not putting your items on “charge” (or on credit) was a good idea. That method may have worked in the past, when communities were small and isolated, but there had to be a better way moving forward. Thus credit bureaus were born.
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Jan 31, 2024
Filed under: Business Loans, Small Business
The process of obtaining an SBA loan is daunting for any business. As a startup or new business, the process can be even more complicated. However, with a solid business plan in place and a good credit score, it’s possible to obtain the funding you need with SBA loans for startups to put your new business on the path to success.
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May 15, 2023
Filed under: Business Loans
Getting an SBA 504 loan can be a lengthy and difficult process. Borrowers must find a CDC and private lender willing to fund their loans, as well as meet the requirements of the SBA and lenders. This includes having enough revenue to repay the loan, a solid credit score, and an eligible project to be funded.
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May 22, 2023
Filed under: Business Loans
The SBA Economic Injury Disaster Loan Program (EIDL) provides financial assistance to both small businesses and private, nonprofit organizations that are located in a declared disaster area. Coverage depends on the amount of economic injury sustained. That includes things that don’t cause property damage, such as COVID-19, but still result in a massive loss of demand due to circumstances beyond your control or that interrupt your ability to conduct business.
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Jun 27, 2023
Filed under: Business Loans
The SBA offers a variety of loan programs that vary according to business needs. Its flagship program is the 7(a) loan program, which offers loans for most general business purposes. However, it also offers special programs such as microloans and disaster loans. Find out more about SBA loans, including who qualifies.
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May 4, 2023
Filed under: Business Loans
In this article, we’ll discuss the factors to evaluate when considering an offshore merchant account and several special features that you’ll want to include in your service. We’ll also profile four offshore merchant processing providers that we feel offer superior service and overall value in comparison to their competitors.
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As a small business owner, you know the importance of financing to expand your business or start your next project. While there are many options available to provide you with the capital you need to start a new business or grow an existing business, one of the best options is a loan through the Small Business Administration.
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Jun 5, 2023
Filed under: Business Loans
There are general requirements set by the SBA that all applicants must meet in order to receive a loan. There are also specific underwriting requirements by loan type that must be met.
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Jun 2, 2023
Filed under: Business Loans