Â. An online search will return hundreds of SBA loan consulting and brokerage firm websites, which will usually offer a free quote on a consulting fee. Video: An Introduction to SBA; Jobs at SBA; Contact SBA; You are here . Any consultant or broker your work with will charge you at varying rates, but you can likely expect to be charged in one of the following formats: An SBA loan for your business might seem like an ideal financing solution—and the most challenging to secure. ZDNet. Don’t let the SBA loan program’s lengthy application process scare you off from applying at all—that’s exactly why many entrepreneurs choose to hire a loan consultant. The loan has certain requirements for eligibility, such as size standards, proving the ability to repay the loan and solid business purpose. The U.S. Small Business Administration is a federal agency committed to furthering the growth and development of small businesses and partners with lenders nationwide in their loan programs. If you’re applying for an SBA loan, you might as well go right to the source: Getting involved in your local SBA center is worthwhile for both established business owners, and for those who are just starting out. The SBA also supports the nonprofit organization. 268 S State St, Ste 300, Salt Lake City, UT 84111. The SBA works with specific lenders to offer their programs which eliminate the risk from the lender since they are backed by the government. Small business loan applications are all important. And you’ll need to meet the SBA eligibility requirements for your application to be considered in the first place. CBS News. The SBA offers several loan programs, but the two most popular are the SBA 7(a) loan and the SBA 504/CDC loan. This page is about PPP loans for 1099 independent contractors. Since the intermediary lenders are facing less risk when they disburse these loans, they can offer some of the lowest interest rates, longest repayment terms, highest capital amounts, and all-around best value loans on the market. It can give an estimated monthly payment with details provided by you, such as loan term, loan amount, and interest rate. Federal agencies and programs, as well as local business communities, can provide growth and mentorship opportunities. In addition to convenience, an online consultant or service might be the fastest way to start getting the professional help you need to speed up your SBA loan application (although the approval window might still take a few weeks). Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. How much should you pay an independent contractor? If you’re worried about spending too much of your time carefully reviewing contracts and tax documents, legal and accounting professionals can make the loan application process more efficient. Zip code. Small business loan applications are all important. Do you feel you’re standing alone on a desolate beach with your customers and vendors in the background? Filter by location to see Sba Loan Servicing Specialist salaries in your area. Classes For Busy Adults - Now Is the Time to Get Started … Meredith is frequently sought out for her expertise in small business lending and financial management. For acquisition loans, the minimum loan with our lending partners is $250,000. Go To Pricing. Since 1976 sbapro.com has been THE SBA loan experts for both borrowers and lenders. SBA Loan Program Consultant. The SBA is allowing small businesses statewide to apply for disaster relief loans of up to $2 million with interest rates at 2.75% for nonprofits and 3.75% for small businesses. Copyright 2000 - 2020. Since the intermediary lenders are facing less risk when they disburse these loans, they can offer some of the lowest interest rates, longest repayment terms, highest capital amounts, and all-around best value loans on the market. sbapro.com is the one stop source for borrowers who need an SBA loan. What are lenders looking for? Our answer is always the same, go to a bank. Small businesses need to be resilient and prepared to manage the challenges of the coming weeks and months. Simply due to the amount of planning, financial reporting, and paperwork it takes to apply for an SBA loan—let alone get approved—it’s worthwhile to seek an SBA loan consultant to facilitate the process. You might already be familiar with some aspects of the process, in which case you can choose to only seek outside assistance on specifics. We are unable to assist you at this time for your acquisition of a business as our lending partners will want to see ~ 20% personal liquidity (10% down for the business plus another 10% in personal reserves). Meredith launched the Fundera Ledger in 2014. Industry. However, we are not a traditional commercial debt and equity brokerage firm. The agency partially backs these loans with federal money, guaranteeing that they’ll cover a portion of defaulted loans. Some of those essential, A comprehensive business plan, including management resumes, Information about your loan request and how you plan to use your funds, Business financial documents, like cash flow statements, P&L statements, and business debt schedule. At Distressed Loan Advisors, we are SBA loan forgiveness consultants who help borrowers avoid the consequences of defaulting on SBA loans. SBA loans* are generally easier to get than other loans and have more favorable interest rates. Top 10 small business consultants near you. Or, work with a loan specialist who’ll walk you through every step of the application process, totally free. Some of those essential SBA forms you’ll need to provide include: Some of these forms and documents are more straightforward than others—it should be pretty easy to photocopy your driver’s license as proof of identification, for instance. Reviewing your budget is a good way to determine how much money you can afford to allocate to hiring a loan consultant. 5 85.65 mi Wells Fargo Home Mortgage 600 Thimble Shoals Blvd Suite 300 3rd Floor Newport News , VA 23606 Approval-Authorization. BP Consultants offers SBA consulting services, and SBA Loan application services that have helped business owners like yourself understand, target, apply for, and get their businesses approved with the SBA. CNET. And not all small businesses are approved. The only person you may need is your company accountant to assist in filling out the financials. Hotel loans are fine, however. 23d. for your application to be considered in the first place. If you expect to work with a consultant for an extended period and requiring more or less full-time support, you might want to switch to a monthly retainer. Since we’ve been in business we have received calls about helping companies obtain a SBA Small Business Loan. Call 940.381.6200 Note: If you are purchasing a business along with real estate, be sure to check "Acquiring a business" above in "Use of Funds.". An SBA Loan is a government backed loan that can be used to start or expand a business. , or search for mentor by expertise, and even specify the area where you need guidance—including help with financing and loans. SBA loans are not permitted to be refinanced by a new SBA loan with our lending partners. They can force your business to close, and sell all the business equipment. How much does it cost me to work with Guidant for my SBA loan? If you have other investors/partners who could contribute to the down payment, that may help but based solely on your stated liquidity position coupled with the fact that you are acquiring a business we are not able to assist you currently. Paycheck Protection Program Loans for COVID-19 … SBA Loan Forgiveness Consultants At Distressed Loan Advisors, we are SBA loan forgiveness consultants who help borrowers avoid the consequences of defaulting on SBA loans. SBA Near You. Los Angeles, CA. Commonwealth Business Bank. Your lenders may take part as well, or you can simply rely on us. 7(a) Loans. Either way, your customers (and all their information) will be in excellent hands. Borrower. SBA Loan Consultant, LLC is an entity registered at Georgia with company number 17105815. The loan application process may seem long, but you can find a consultant to help you in a few minutes. Explore your options for online loan consulting, even if you don’t plan on using an internet solution. 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