SBA Loans

USA Funding Pros are helping small businesses to thrive. We are specialized in addressing the particular financing needs for small companies. This involves collaborations with the United States and the Small Business Administration (SBA). These entities will assist you in achieving timely and affordable funding, should you qualify.

Our dedicated team will direct you through an SBA application process step-by-step. The aim of our organization is to help small business owners as well as entrepreneurs, therefore these loans are the perfect choice for startups plus businesses that have little lending experience. The SBA offers free online counseling and training for startups, entrepreneurs and small businesses.

What is a SBA loan?

Instead of lending money directly to small businesses, the loans are guaranteed by the SBA. This guarantee reduces the risk to lenders, and allows small businesses to access the capital more easily.

SBA loans require “adequate” security guarantees for all loans, plus a personal guarantee of 20 per cent or more from the owner of each company. Your credit score and personal assets are put on the hook by a personal guarantee. Some online lenders do not need collateral, but a personal guarantee may be required.

Get a Small Business Expansion Loan, as SBA loans typically have substantially lower interest rates than credit cards.

Entrepreneurs have several types of SBA loans to choose from. The type of SBA loan that you need depends on what you will use it for and how much you may want to borrow.

Here are some of the most common types of SBA loans:

• You could qualify for up to $5.5 million to buy real estate, or
• equipment

All depending on your industry and loan requirements.

SBA loans are provided in partnership with a certified development company, a non-profit which promotes economic development in its community. CDC’s are certified and regulated by the SBA, and they are working with participating lenders to provide small business financing.

SBA loans will help:

• buy, or upgrade your land, or remove immovable property to run your business.
• Construct a business facility and make improvements for tenants on your leased property.
• Inventory buying, including buying fixed assets like heavy machinery as well as specialized equipment.
• Acquire working capital.
• Debt refund.
• Buy an existing undertaking, franchise or even a startup with quite lower collateral requirements compared to conventional loans.

SMALL BUSINESS

When you start or grow a small business, these administrative loans can provide flexible financing options on competitive terms. The money can be used for a range of purposes, such as purchasing equipment, real estate, or inventory, dependent on the type of loan that you apply for.

The process of applying for an SBA loan and having it approved can require comprehensive documentation. Please take some time to grasp the procedure and specifications before applying.

How should you apply for a SBA Loan

USA Funding Pros members can apply directly with our SBA loan team, to complete a loan application. Contact USA Funding Pros to schedule a meeting at a local branch or nearest office to discuss what your business loan requirements are.

Please carry the following details for our initial meeting:

• The total amount you need to borrow ( maximum $5 million) and a detailed explanation of what the money will be used for.
• Company tax returns for the last three years, including all of the schedules.
• A financial statement of a company which is not over ninety days old.
• Financial statements for the previous three years, where applicable.
• A record receivable aging on the exact date or later than the latest financial statement.
• Include a complete list for all firm term obligations and credit lines on the exact same date as the latest financial statement.
• Financial tax returns for the previous 3 years, including all plans.
• Present financial statement of a personal sort.
• The following document will be needed, especially for a new business: A comprehensive business plan of one year, with estimated cash flow.

After we have concluded our meeting and collected the necessary documents, we will then respond to your request for loan within a few days. And if your loans are accepted, all paperwork will be completed at a branch office closest to you..

Preparation of documents are essential in order to apply for a SBA loan application. Unprepared documentation can hold up an application or lead to a rejection of your loan application.

Not providing good financial details, with a well thought-out business plan and supportable documentation is a common explanation for a stalled loan application, particularly for younger, less experienced business owners.

The business plan is the cornerstone of your SBA loan application. Without a business plan, you can’t articulate your business model to the lender or investors, in order to secure your loan.