Understanding SBA Loans
Small businesses are the backbone of many communities, but as a small business it can be difficult to find financing because you just can’t compete with the larger corporations. The Small Business Administration is the arm of the government which offers support to small businesses. One of the programs they sponsor is a loan program. Although the SBA doesn’t actually issue the loans, it does guarantee them. Getting a small business loan through this program lets your business get competitive rates and terms when you’re just starting out. The Lending Force is a Preferred Lender, authorized by the Small Business Administration to provide financing.
Your Business Eligibility
The Small Business Administration has strict guidelines for businesses which apply under their umbrella. The size and scope of your business must qualify under their guidelines. For example, banks and financial institutions or casinos do not. However, most commercial industries do qualify. You can get a loan to open a franchise, auto dealership, hotel, restaurant, or even a healthcare facility. Our financial specialists will help your business determine its eligibility.
Processing the Loan
Along with the business qualifications, there is paperwork which will be required to obtain a small business loan. Our professionals are here to help you get through the process, but you should expect to provide financial statements for the business and principals, a business plan, and the reason you need the loan. Funds are restricted to this purpose.
We Specialize in 7a and 504 Loans
SBA loans can be used for business or equipment acquisition, debt refinancing, and construction or upgrades. We have the professionals who can find the right financing package to fit your business goals and objectives. Discuss your plans with our team to let us assist you with a loan through the Small Business Administration program to make a difference in your community, your family, and your future. We want to make your dream happen.