Tag Archives: Financing

BLOG: Financing your Business Part V – Applying for a Loan

So far in our “Financing your Business” series, we have covered the questions you should ask yourself before seeking financing, credit factors you should consider, what bankers are looking for, and the financial statements you need to have completed prior to applying for a loan.  Now that you understand some of these different factors and you know the type of financing you are going to seek, it’s time to prepare a written loan proposal. (more…)

BLOG: SBA 7(a) Loans — SBA Express Loan & Patriot Express Loan

With the SBA Express loan and the Patriot Express Loan lenders can use, to the maximum extent possible, their own loan analyses, procedures and documentation, in addition to their own application forms, internal credit memoranda, notes, collateral documents, servicing documentation and liquidation documentation. In return for the expanded authority and autonomy provided by the program, lenders agree to accept a maximum SBA guaranty of 50 percent (85 percent for Patriot Express). (more…)

BLOG: Financing your Business Part II – Credit Factors

iStock_000003732935SmallThe first part of this series, An Overview of Business Financing, gave you important questions to help you determine your need for financial assistance.  We also briefly touched on some of the programs the SBA provides to assist business owners that are seeking financing.  However, before you can qualify for SBA’s financial assistance, you should first understand some basic credit factors that apply to all loan requests.
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