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Small Business
Financing - SBA approved
Small business financing backed by the SBA.
The SBA imposes no limit on the total loan amount you can request from the lender.
As a borrower you should meet these criteria:
1. Must have a stake
in the business.In the SBA's view, business owners who have put their own
money into the venture are much more likely to push hard for the success of their
business.
2. A strong business plan. The SBA requires the submission
of a business plan. More importantly, they want to know how the entrepreneur can
repay the loan and whether the business can earn enough to at least cover the
monthly payments.
3. A good personal credit rating. Your credit
history serves as a person's gauge for credit worthiness.
Remember, qualified
lenders actually make the loans, and the SBA guarantees them; the SBA has no funds
for direct lending.
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