The U.S. Small Business Administration (SBA) recognizes that the conventional commercial loan market may not offer many small business owners affordable access to the capital they need to keep their businesses strong and help them grow. Therefore, the SBA has developed a number of financial programs for small businesses.
Our SBA Loan Assistance Services can help you find a lender with SBA funds available for loans, and then prepare the documents you will need to apply for a loan
Guarantees, Not Loans
The SBA does not make any loans. Rather, it guarantees reimbursement to the lending organization for an agreed upon portion of a loan should the borrower default. This guarantee is an incentive for the lender to make the loan since the guarantee removes much of the risk for the lender. Personal guarantees from the borrowers are also frequently required.
Both the SBA and the lender take steps to keep defaults at a minimum. They make loans only to successful credit worthy businesses and individuals. This imposes a significant burden on the borrower to assemble, or prepare, all the required documents which help demonstrate an ability to repay the loan.
TaxCutters, Inc. Can Help
TaxCutters, Inc. will do an Eligibility Review ($99) with you to see if you might qualify for an SBA guaranteed loan. If together we decide to proceed, we will then accompany you to a preliminary meeting with a bank which has funds available for SBA loans. After learning how the bank would like to proceed, we will guide you through the process and prepare your loan application documents.
For more information, call Dennis Frantsve at 847-347-0631 (cell).