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How to get an small business administration loan

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http://www.bizplancorner.com/ Tips on getting SBA loans easily

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How to get an small business administration loan

  1. 1. HOW TO GET AN SBA LOAN?<br />www.BizPlanCorner.com– Call +1-800-351-0557<br />info@bizplancorner.com<br />
  2. 2. Small business administration (SBA) is one of the most essential sources of financing for U.S. entrepreneurs. <br />For entrepreneurs who are thinking to start a business or want to expand their already existing business, the SBA helps in getting short-term and long-term loans. <br />www.BizPlanCorner.com<br />
  3. 3. On the backend, there are the banks and other financial institutions who grant the loan. SBA guarantees it. <br />So, before applying for an SBA loan, an entrepreneur has to satisfy lender’s requirement.<br />www.BizPlanCorner.com<br />
  4. 4. REQUIREMENTS for SBA:<br />www.BizPlanCorner.com<br />A STRONG BUSINESS PLAN<br />Business plan is an essential document that SBA sees before granting the loan. <br />A strong business plan helps entrepreneur to convince investors and lenders. <br />
  5. 5. A STRONG BUSINESS PLAN<br />Through the business plan, the SBA wants to see that as a business owner you have clear understanding of the market in which you are going to operate your business. <br />The main and most important section of a business plan for SBA is financial projection; this sections let them know that you have enough potential to make money that you can at least cover monthly payments.<br />www.BizPlanCorner.com<br />
  6. 6. THE BORROWER MUST HAVE A STAKE IN THE BUSINESS<br />It is necessary that you have some money of your own as a stake in the business<br />According to them, the only thing that helps entrepreneur to succeed is the amount of money they put into the venture. <br />It is essential to invest 25% to 50% before asking for loan from SBA. <br />www.BizPlanCorner.com<br />
  7. 7. A GOOD PERSONAL CREDIT RATING<br />The credit history acts as an estimation of how much credit an entrepreneur wants to start or expand a business. <br />The SBA partner banks and other financial institutions usually conduct a credit examination before granting the money. <br />The SBA also sees the financial statements of your partners, board of directors and other important people associated with the business.<br />www.BizPlanCorner.com<br />
  8. 8. ENTREPRENEUR’S BACKGROUND AND EXPERIENCE<br />Business plan’s “management” or “people” section is the most important part for banks and SBA guaranteed loans. <br />By looking at it, they will make sure that the management team has all the potential for running a business successfully. <br />www.BizPlanCorner.com<br />
  9. 9. CONCLUSION<br />Businesses aged more than 2 years usually have a better chance of getting loan from SBA. <br />To get an SBA loan, it is necessary that the business should have solid business plan that acts as a road map to success.<br />www.BizPlanCorner.com<br />
  10. 10. www.BizPlanCorner.com– Call +1-800-351-0557<br />info@bizplancorner.com<br />THANK YOU<br />

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