Money to Start or Expand a Small Business, loan for small business.#Loan

Money to Start or Expand a Small Business

Loan for small business

Right off the top. The U.S. government does not currently provide direct grants to individuals for starting or expanding a small business. However, the government does offer plenty of free help in planning how to start or improve your business and in securing low-interest SBA-backed small business loans. In addition, many states DO offer small business grants to individuals.

SBA does not offer grants to start or expand small businesses. SBA s grant programs generally support non-profit organizations, intermediary lending institutions, and state and local governments in an effort to expand and enhance small business technical and financial assistance. — Source: SBA

The SBA is the U.S. Small Business Administration. Since 1953, the SBA has helped thousands of Americans start small businesses. Today. SBA offices in every state, the District of Columbia, the Virgin Islands and Puerto Rico assist with planning, financing, training and advocacy for small firms. In addition, the SBA works with thousands of lending, educational and training institutions nationwide.\

Can the SBA help you?

If your business is or will be independently owned and operated, not dominant in its field, and meets the maximum business size standards required, then yes, the SBA can help you. Here s how:

Federal Government Contracting Resources

Small businesses sell billions of dollars worth of goods and services to the US federal government every year. Many government agencies require that some percentage of their contracts for goods and services be awarded to small businesses.

Here you will find the resources you need to help your small business become established as a federal contractor, find business opportunities, and the rules and regulations that federal contractors need to follow.

Government Resources for Women-owned Businesses

According to the Census Bureau, women-owned nearly 30 percent of all nonfarm businesses in the United States in 2002, when the nearly 6.5 million women-owned businesses generated more than $940 billion in revenue, up 15 percent from 1997.

Here you will find information on US government programs that help women entrepreneurs start, grow and expand their businesses.

Finding State-Based Small Business Grants and Funding Hot Prospects

Small business financing incentives are an important part of every state s economic growth plan. Some states even offer small business grants. Other small business incentives could include subsidized rates on SBA loans, tax breaks and participation in business incubator programs.

Small Business Lending Fund (SBLF)

The SBLF will ultimately provide up to $30 billion to small community banks to be used for making small business loans. The dividend rate a community bank pays on SBLF funding is reduced as that bank increases its lending to small businesses — providing a strong incentive for new lending to small businesses so they can expand and create jobs.

State Small Business Credit Initiative

In the tradition of the best sources of funding for small businesses coming from state governments, the new State Small Business Credit Initiative (SSBCI) – a component of the Small Business Jobs Act – will strive to generate at least $15 billion in locally-available small business loan programs intended to help small business grow and create new jobs.

Small Business Health Care Tax Credit

The health care reform law – the Patient Protection and Affordable Care Act – provides an immediate small business tax credit to help small businesses afford health insurance coverage for their employees.





Government Small Business Loans, loan for small business.#Loan #for #small #business

Government Small Business Loans

Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.

For-profit lenders are reluctant to issue loans to anyone who does not have a strong credit report and financial history. That is not the case with government small business loans. Obviously, a decent credit report is important, and you will have to follow the guidelines regarding the repayment period and the interest rate set by the government, but usually the interest rates charged by government loans are lower than those you could expect in the private sector.

More about Government Small Business Loans

Government loans are typically offered through banks and credit unions that partner with the Small Business Administration (SBA). The SBA is a U.S. government body, with the motive of providing support for small businesses and entrepreneurs. For each loan authorized, a government-backed guarantee offers serious credibility, since the lender knows that even if you default, the government will pay off the balance. These loans can be applied to a number of uses, such as:

  • Purchase of new equipment, machinery, parts, supplies, etc.
  • Financing leasehold improvements
  • Commercial mortgage on buildings
  • Refinance existing debt
  • Establishing a line of credit

Government small business loans benefit both small businesses and the lending agency. For small businesses, it is beneficial because this is money capital they may not have access too. For banks, the loan’s risk is decreased due to the loan being backed by the SBA.

Different SBA Government Loans

The SBA extends financial help through various lending programs it has to offer. Some of the more popular loans are:

  • 7(a) Loan Guarantee Program: aimed primarily in helping a small business start or expand its services. The maximum size of such a loan is $5 million.
  • MicroLoan Program: mostly used for short-term purposes, such as purchase of goods, office furniture, transportation, computers, etc. The maximum amount is fixed at $50,000.
  • 504 Fixed Asset Program: featuring fixed-rate and long-term financing, these loans are aimed at applicants whose business model will benefit their community directly, either by providing jobs or bringing needed services to an underserved area. Again, the maximum amount is $5 million.
  • Disaster Assistance: under this program, loans are sanctioned to renters or homeowners with a low-interest, long-term plan for the restoration of property to its pre-disaster condition.

In most cases, maintaining a good business credit report is enough to qualify. In addition, it instills confidence not only in the lender, but also in you. There is at least one SBA office in every state in America. If you contact them regarding the startup status of your business model and plan, you can get started on a government small business loan that will give you the financing to make your dreams a reality.





Compare Business Finance Products Today at MoneySupermarket, loan for business.#Loan #for #business

Business finance

Compare business finance products

Seek out the best deals on a wide range of products including in-credit business current accounts, cashback business credit cards and short-term business loans – plus get exclusive deals on business products that you can’t find anywhere else.

Business finance. Trust us to explain it simply

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Medium to long-term business loans

We ve provided a list of those who can help if you re interested in taking out a medium to long term loan.

Commercial mortgages

Every question you have around commercial mortgages – solved

Business saving accounts

Just like a personal account, you can manage and save your financies to support your business

Asset financing

Financing for the things where your business needs it most

Short-term business loans

From helping with cash-flow to expansion costs, a short-term loan could be an option if your business needs a boost

Invoice financing

Often an ideal solution when in need of a instant cashflow-fix.

Business current accounts

Compare and find the best business current account to suit your business

Business credit cards

Facilitate staff spending and much more with business credit cards

Business money transfers

Credit cards can be used as a way of managing both staff spending and cashflow.

Business insurance

Ensure your business has the protection it requires

Business energy

Just like your home, compare and save money on your business energy and gas

Managing business expenses

Discover a great alternative to a business credit card

Guides

What are business loans

All you need to know about taking out a loan for your business.

What are business current accounts

The best way to keep your personal and business-banking separate.

Business savings accounts explained

All you need to know about taking out a loan for your business.

Peer-to-peer business loans

A loan that comes from individuals, as opposed to the bank. We explain how.

Invoice financing

How it works, and how it can benefit your business

What are business credit cards

Credit cards can be used as a way of managing staff spending and cashflow

Business finance in general

When it comes to managing your business finances, it’s not all that different from managing your personal finances.

The key difference is the fact you want to seek out products that are specifically designed for business use, as these will offer better rates as well as other features aimed at making running your business easier for you.

Who business finance is for?

Business finance is for any type of business, no matter how big or small.

You may want to think about business finance if you operate as a sole trader, or if you are a limited company – or if you are anything in between.

Who can apply?

Anyone who owns a business can apply for business finance, but you must remember that with some products, such as business loans, it may be difficult to get accepted in the current uncertain climate.

As a general rule, those businesses with the cleanest credit record have the best chance of getting accepted – and of getting the best rates.

What products are available within business finance?

There are a wide range of products available within business finance offered by numerous different banks and other financial organisations, including business current accounts, business credit cards and business loans.

Each product on offer in business finance has been designed with business in mind, and will help you to run your business operations more smoothly.

Why are we the best website for business finance products comparison?

If you’re looking for business finance products then you need look no further, as we compare hundreds of deals from different providers in one place to seek out the very best deal for you and your particular needs.

We offer a free and independent comparison tool, and also have access to exclusive deals on business finance products that you won’t be able to find anywhere else.





Personal Loan Business – Payday Loans Online, loan for business.#Loan #for #business

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Business Loans UK, ezbob Instant Business Loans UK, business loan.#Business #loan

Flexible business loans

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We believe that ezbob business loans are ideal for UK business owners. Regardless of what industry you are in or where your business is located in the UK, your business may qualify for up to £120,000 in as fast as 30 minutes. We have developed leading business loan technology in the market. We believe that our team are leaders when it comes to funding small business loans. Founded by entrepreneurs, ezbob understands how important time is for business owners. This is why applying for funding with ezbob is paperless, simple and can take less than 10 minutes. With ezbob it could be instant lending.

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SBA Disaster Loan Application Deadlines Nears, sba loan programs.#Sba #loan #programs

SBA Disaster Loan Application Deadlines Nears

AUSTIN, Texas – Two important deadlines are ahead for Texans who are considering a loan through the U.S. Small Business Administration for recovery from the April storms and flooding.

Most survivors who registered with FEMA for disaster assistance were contacted by the SBA with information on the agency’s loan-interest disaster loans, as well as instructions on how to complete the loan application.

The deadline to submit the application for physical damage is June 24, 2016. The deadline for businesses to submit a loan application for economic injury is Jan. 25, 2017.

The SBA is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property, offering low-interest disaster assistance loans to businesses of all sizes, private nonprofit organizations, homeowners and renters.

Survivors may apply online using the electronic loan application via SBA’s secure website at disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s customer service center by calling 800-659-2955 or emailing disastercustomerservice[email protected] Individuals who are deaf or hard‑of‑hearing may call 800-877-8339. For more disaster assistance information or to download applications, visit sba.gov/disaster.

Completed applications should be mailed to:

U.S. Small Business Administration

Processing and Disbursement Center

14925 Kingsport Rd.

Fort Worth, TX 76155

SBA loan applications should be submitted even as disaster survivors await an insurance settlement. The loan balance is reduced by the settlement. SBA loans may also be available for losses not covered by insurance.

Both FEMA and the SBA encourage Texans who suffered damage or loss from the April storms and were provided a loan application to complete the application. There is no obligation to take a loan if offered. If approved, and a survivor does not accept the loan, it may make them ineligible for additional federal assistance.

Homeowners may borrow up to $200,000 from SBA to repair or replace their primary residence.

Homeowners and renters may borrow up to $40,000 to repair or replace personal property.

Businesses may borrow up to $2 million for any combination of property damage or economic injury. SBA offers low-interest working capital loans—called Economic Injury Disaster Loans—to small businesses and most private nonprofit organizations of all sizes.

FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.





Accion, Small Business Loans, start up business loan.#Start #up #business #loan

Launching Dreams, Empowering Entrepreneurs

Accion believes entrepreneurs create vibrant communities. We deliver a level of personalized service you won’t find at any other lender. Capital is just one tool you need to reach your goals, and we partner with you every step of the way.

Delivered to small business owners

Years of lending experience in the U.S.

500,000+

Entrepreneurs across the country served

Start up business loan

What Makes Us Different

Loans designed to help you succeed, with terms specific to your needs and goals.

Champion for Small Business

We are leaders in the responsible lending movement and dedicated to advancing local and national initiatives that support and empower entrepreneurs.

Access to business experts, special events, networking, and opportunities from our partners, as well as exclusive online resources help you take your business to the next level.

Every community has a unique business climate. Our on-the-ground expertise keeps you ahead of the curve no matter where you operate.

We match every borrower with a knowledgeable loan expert who provides personalized guidance through the loan process and beyond.

Simple Online Application

In less than 15 minutes, you could be on your way to getting the capital you need to run the business you love.

Hear What Business Owners Are Saying

A loan is an opportunity for a better future. Meet some of the entrepreneurs who have used Accion loans and support to grow their business.

Maria Harrison
Tea Gallerie

“We were so happy that someone believed in us. Accion is a financial partner and a supportive community partner.”

Odilon Celestin
C M Sweet Bakery

“Accion doesn’t just give you money they help you survive. My dream came true because I didn’t give up.”

Scott Carpenter
Underground Fitness

“I hit a lot of dead ends. Then I found Accion.”

Pamela A. Jones
Charboy’s

“At Accion, the loan process was straightforward. Now I have a whole line of sauces in 200 stores.”

What to Expect

A fast and simple online application experience paired with unmatched personalized service for every applicant.

Start up business loan

Apply online, in person or call us

Get started by telling us about your business and financing needs. We welcome the chance to get to know you and your business. Questions? We are here to help.

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Get a solution that fits your needs

Our loan experts work one-on-one with you to tailor solutions to you, your business and your goals.

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Get the support you want

We want to be your most trusted resource. We’ll work with you every step of the way to put your loan to work and get your business on the right track.

Because we believe you deserve an efficient and transparent borrowing experience, we are a signatory of the Small Business Borrowers Bill of Rights.

Business Resources

Getting the capital your business needs is just one piece of the puzzle. Explore our library of tips, articles and videos to help your business grow.

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10 Essential Tips for Growing Your Business

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Brewing the American Dream

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3 Vital Components to Your Business Plan

Free Small Business Owner’s Toolkit

Running a business is hard work, but we re here to help. Get tips on everything from setting up your business to creating a website to paying taxes, based on Accion s experience helping entrepreneurs in every industry across the U.S.

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2017Accion is a 501(c)(3) nonprofit organization. All rights reserved.

Start up business loan

“At Accion, the loan process was straightforward. Now I have a whole line of sauces in 200 stores.”





Small Business Loans, Minority Start Up Business Loan for Women with Bad

Small Business Loans

Are you tired of shopping around for the lowest commercial loan rate in the market or simply getting a quick approval for a small business loan to help jumpstart your business?

We are a leading financial service company offering our clients a wide array of business financing solutions tailored to meet every specific business needs. Our financial products include but not limited to commercial real estate loans, small business loans, cash advance, and a newly developed business loan express program that can finance your business within a 72-hour funding time.

We have a high approval rate for borrowers with various circumstances.

Whether you’re requiring specific incentive program such as a small business loan for minority or small business loan for women, we will find the best business loan program for you. Our wide network of direct lending relationship provides an opportunity for us to place you in the best loan program that fit your business needs.

Start Up Business Loans(SBA Loans)

SBA Loans are fully amortized for the length of the term ranging from 7 to 25 years depending on the use of the loan. No balloon payments at the end of the term. And up to 90% financing meaning only a 10% down payment is required by the borrower. SBA Loans are guaranteed by the government therefore providing the market with extremely competitive rates for small business loans up to $5,000,000. These small business loans can be used for commercial real estate purchases, working capital, as well as other uses sanctioned by the government.

Veteran Business Loan Minority Business Loan

With over a hundred direct lending relationships available, we can offer the best incentive programs for our borrowers. We have a high approval rate for borrowers because we are not limited to a few programs available from a specific bank or lender. We also are able to provide incentive small business loans for veteran, women and/or minorities. These incentive programs for women and minorities may include reduced rates, quicker approval and funding, as well as many other benefits for veteran business loans.

Business Credit Card

With the highest approval rate among all types of financing, business credit cards are the most recommended form of funding by MyOwnBusinessLoan.com. A revolving line of credit can be used on inventory and normal office expenses. Once inventory is sold and profit is made, the line of credit can be paid off and used again to purchase additional inventory to be sold. A business credit card makes it easy for a start up business owner to track expenses through the credit cards monthly statement and report.

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Business Loan Calculator, Citizens Bank, business loan calculator.#Business #loan #calculator

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One deposit of any amount each statement period waives the monthly maintenance fee. It s that simple.

Cash Back Plus World Mastercard

Earn unlimited cash back on this Citizens Bank credit card.

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From home renovations to consolidating debt or paying for college, your home’s equity can work harder for you.

Personal Loans

Apply for a low-APR Citizens Bank Personal Loan.

Student Lending

Education Refinance Loan

You may be able to lower your student loan payment or interest rate, or combine multiple student loans into one monthly payment.

Student Loan

Our student loan offers low competitive rates, flexible payment terms, and multi-year approval.

Retirement & Investing

Retirement Planning

Begin to fund your future while keeping your present needs in mind.

Living in Retirement

Manage your retirement income with careful planning, investing, and a diligent review.

Wealth Management

Premier

A comprehensive program featuring a dedicated Relationship Manager and a team of specialists that support financial needs.

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Preserve and grow your wealth with a dedicated team of trusted advisors.

For Your Business

Banking & Credit Cards

Clearly Better Business Checking

Enjoy a business checking account with no minimum monthly balance or maintenance fee.

Everyday Points Business Credit Card

It pays to spend on your business with Citizens Bank’s no annual fee business reward card.

Borrowing & Financing

Small Business Lending

We offer a suite of business lending solutions at competitive rates that can be customized to meet your needs.

Business Mortgages

Purchase, refinance, or renovate your owner-occupied commercial property.

Managing Cash Flow

Payroll Services

We provide solutions to make paying your employees as simple and accurate as possible.

Cash Management

Manage your cash flow simply and efficiently.

Investing & Benefits

Business Investment Management

Get the right investment solutions for your short- and long-term needs.

Business Insurance Protection

Find the right option to protect you ‐ and your employees.

Healthcare

For You

Our financial services for healthcare professionals are designed to reward that effort with education refinance savings, mortgage benefits, and more.

For Your Practice

Tailored solutions from our team of dedicated healthcare practice banking specialists.

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The zip code you entered is served by Citizens One, the brand name for Citizens Bank’s lending business outside of our 11‑state branch footprint. Under the Citizens One brand we offer Auto Loans, Credit Cards, Mortgages, Personal Loans and Student Loans. To learn more, please visit:

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The zip code you entered is served by Citizens One, the brand name for Citizens Bank’s lending business outside of our 11‑state branch footprint. Under the Citizens One brand we offer Auto Loans, Credit Cards, Mortgages, Personal Loans and Student Loans. To learn more, please visit:

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Citizens Bank corporate headquarters: One Citizens Plaza, Providence, RI 02903 Business loan calculatorBusiness loan calculator

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This calculator is intended for informational purposes only and is not intended to provide today’s actual rates. Your actual results may vary. Results provided by this calculator are intended for Illustrative purposes only and the accuracy is not guaranteed. This calculator does not assure the availability of or your eligibility for any specific product offered by Citizens Bank or its affiliates, nor does the calculator predict or guarantee the actual rate.

You are viewing a third-party created calculator. Citizens assumes no responsibility for, nor does it control, endorse or guarantee any aspect of your use of this calculator.





SBA Loan Rates 2017 – 504 and 7a Loan Rates, Green Commercial

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Green Commercial Capital / MyMortgageBanker.com

SBA Loan Rates 2017 1-800-414-5285

Sba loan rates

Sba loan rates Sba loan ratesSba loan rates

Sba loan rates

100% Financing for Established Businesses plus Doctors, Dentists, Veterinarians, Funeral Homes, Pharmacies

SBA 504 Refinance Program 2016

Self Storage Mini Storage Businesses Eligible for SBA Financing

SBA Loan Rates Near All Time Low

No Down Payment Commercial Property Financing

I am extremely pleased with the loan you helped me obtain. Your service, rates, terms and professionalism impressed me.

SBA 504 Loan Rate – 4.56% Effective Rate*

Sba loan rates

The 504 loan rate (effective rate) for 20 year commercial real estate loans is 4.56%* The effective rate is inclusive of all servicing fees. (Some lenders do not advertise the all inclusive rate, so you may see the rate advertised slightly lower in some areas of the country).

The 504 program consists of 2 loans:

  1. first mortgage for approx 50% of the project cost

Low 25 Year Fixed Rates for Multi-Purpose Properties

The 25 year fixed rate option for multi-purpose properties (office, warehouse, light industrial, wholesalers, manufacturing, retail, medical office, dental office, R D, etc). is offered at a very low rate. To be eligible for this particular program the property needs to be of the type that could be used by many different types of businesses.

Most 504 first mortgage rates and terms will vary depending on the type and size of the loan. Rates for this program have been trending up since the presidential election in November of 2016 and are in the 5% to 5.75% range currently. (Other options are available for single purpose properties – see below).

SBA 7a Loan Rates

The 25 year fixed rate is very competitive and never adjusts. These loans are available if the majority of the loan proceeds are used for commercial real estate. The underwriting can be a little tougher than for a variable rate, but this is a phenomenal opportunity to lock in great low rates for the long term if you qualify.

Variable rates are typically Prime + a margin not to exceed 2.75%, The margin is set by the lender based on their cost of funds and the quality of the loan. Most lenders will offer something between Prime + 1.25% and Prime + 2.75%. 7a loans can also be based on the one month LIBOR rate.

Please contact us at 1-800-414-5285 for more information about the possibility of a fixed rate

10 Year Loans for Business Acquisitions

The SBA 7a (aka SBA Advantage Loan) is also a great solution for business acquisitions as well as refinancing of business debt or partner buyouts and the rates can be fixed or variable for up to 10 years.

504 Loan Rates

First Mortgage Rates: Currently range from low 4% range to as much as 6.5% depending on loan size, term, property type and strength of transaction and are typically amortized for 20 to 25 years and in some cases as long as 30 years.

The 5 year fixed rate with a 25 year amortization is a popular product. After the initial 5 years the loan could adjust as frequently as monthly or as infrequently as every 5 years depending on the lender.

October 2017 504 Mortgage Rate: 4.56%* – fixed for 20 years.

The combination of the 2 loans and the fact that the second mortgage is always permanently fixed make for very attractive 504 loan terms.

SBA 504 Equipment Loans are typically 10 years and can be anywhere from .25 to 1.5% lower than commercial real estate transactions.

SBA 504 Refinance Rates may be slightly higher and multi-purpose property rates are typically lower than single or special use properties like hotels or self storage properties.

Sba loan rates

More About The Fixed Rate Option for 504 First Mortgage

The low rate SBA 25 year fixed rate first mortgage option is available for strong borrowers (strong cash flow, very good credit and credit scores, etc.) financing multi-use properties under the 504 (Grow Loan) program. The loan is fixed for the entire term of the 25 year first mortgage.

The rates for this program are very competitive and when combined with the low rate second mortgage it makes for very attractive fully fixed long term rates. (The rate for the first mortgage will vary depending on loan size, prepayment penalty, etc).

Again, this program is a true fixed rate that will never adjust, so while the rate may be higher than the 1. 3 or 5 year fixed and other options, this loan is the better choice if you intend to own your property for the long haul.

Please contact us for more information about this program: 1-800-414-5285

504 Loan Payment Example

Here is an example of loan amounts and payments for a $1.5 million transaction with 10% down and a 1st mortgage rate of 5%:

Down Payment/Equity Injection: $150,000

The payments would be as follows:

Sba loan rates

Please contact us at 1-800-414-5285 to find out how the SBA 504 or 7a could help your business.

Please note: the SBA does not make loans directly and interest rates are set by the lenders who make the loans.

* Rate includes fees to SBA, CDC and central servicing agent. (Rates change monthly).





SBA Business Loan Calculator, sba business loan.#Sba #business #loan

Sba business loan

Sba business loan

SBA Business Loan Calculator

A loan backed by the U.S. Small Business Administration (SBA) can be the least expensive way to get capital for many small businesses. They typically offer small businesses lower interest rates and longer terms than other financing options. Our SBA loan calculator will help you see just how affordable your SBA loan can be for you.

To get an SBA loan, you will generally have to meet these 5 requirements:

  • Have a personal credit score of at least 680 (check yours for free here)
  • Be in business for at least 2 years
  • Have annual revenues over $120K, trending up
  • Be profitable
  • Be seeking $30K or more

Our recommended SBA loan provider is SmartBiz. They can prequalify you in under 5 minutes with no impact on your credit score. Plus, they have the fastest turnaround time of any SBA loan provider we know, cutting the normal loan period of 90 120 days down to just 30 days.

What is the SBA Loan Calculator?

This SBA Loan Calculator is specifically designed for SBA 7(a) loans and SBA Express loans, the SBA’s most popular loan programs. It’s important to understand that the SBA itself does not lend you the money. Rather, it partially guarantees loans issued by banks and other lenders. The government guarantee enables these lenders to make loans to small businesses at lower interest rates and with longer repayment terms than they would otherwise be able to. Some lenders also require smaller down payments and lower collateral for SBA 7(a) loans.

Our calculator lets you input your loan term, the loan amount you’re seeking, and your annual business income. You can then view the interest rate, monthly payment for an SBA 7(a) loan, and your Debt Service Coverage Ratio, which is a financial ratio used by lenders in determining whether to approve you for a loan.

The calculator allows you to choose up to 25 years on the term of your loan, even though the SBA 7a loans for working capital are typically between 5-10 years. SBA loans with longer terms are typically reserved for large loan amounts ($350K+) and loans for commercial real estate.

Please do not use this calculator for calculating interest rate or payments on CDC / SBA 504 loans or other SBA loan products.

How are the Interest Rate and Monthly Loan Payment Determined?

The SBA sets the maximum interest rates that lenders can charge on 7A loans. The maximum interest rates are determined by the length of the loan term (number of years) and the size of the loan amount being borrowed.

Based on the loan amount and loan term, our calculator figures out and displays the maximum interest rate. Note that your interest rate may be lower than what’s displayed–the number that’s shown is the maximum rate that would be permissible. In general, interest rates are lower for larger loan amounts and shorter repayment periods.

Keep in mind that the interest rate is different from the Annual Percentage Rate (APR) of the loan. Additional borrower costs such as the SBA guarantee fee, packaging fee, and closing costs will increase the APR. However, these fees are paid upfront before the loan is disbursed to you, so they don’t affect the size of the monthly payments.

The largest of the fees is usually the SBA guarantee fee. Initially paid by the lender, the fee is almost always passed on to the borrower at closing, and is typically rolled into the whole loan. There is currently no guarantee fee on SBA 7A loans under $150K. The guarantee fee helps the SBA pay for the cost of guaranteeing all SBA loans.

The amount you’re charged as a guarantee fee is based on the size and term of your loan. You’re generally charged a 3% fee on loans between $150K $750K, 3.5% on loans above $750K, and an additional 0.25% on any amounts above $1 million. For a more in-depth explanation and full examples of how this works, read our article on SBA guarantee fees.

In order to estimate the monthly payment, the calculator assumes the loan will be fully paid off in equal monthly payments throughout the life of the loan.

Current SBA Loan Rates

The SBA loan rates vary over time (most SBA 7A(a) loans are pegged to the Fed’s Prime Rate). The SBA set a maximum rate that lenders are allowed to charge borrowers. Below are current maximum SBA 7a rates.





SBA Loan Rates – Current Interest Rates and How They Work, business

Business loan interest rates

Business loan interest rates

SBA Loan Rates Current Interest Rates and How They Work

There are three primary types of SBA loans: SBA 7A Loans, SBA Express Loans, and CDC/504 Loans. SBA 7A loans and SBA Express loans can be used for a wide variety of purposes, including growth capital and refinancing. CDC/504 loans, on the other hand, are specifically for the purchase of fixed assets like real estate and heavy machinery.

November 2017 Maximum interest rates on SBA 7A Loans range from 6.5 % to 9 %. Full Table

November 2017 Maximum interest rates for the CDC portion of CDC/504 Loans currently range from 4.08% to 4.43% including fees. Full Table

Before reading further, make sure you are qualified. Though there are exceptions, and startups are sometimes eligible, there are five general requirements for getting an SBA loan:

  • In business at least 2 years
  • Personal credit score is 680+ (check your score for free here)
  • Seeking at least $30,000
  • At least $50,000 in revenues for the past 12 months
  • Business is profitable

Sound like you? We recommend applying with SmartBiz. They are the best company we have found at providing quick turnarounds on SBA loan approvals, and you can find out how much you qualify for in 5 minutes.

Current SBA (7A) Loan Interest Rates and Explanation

The Small Business Administration (SBA) sets the maximum interest rates that banks can charge on 7A loans. The current maximum interest rate ranges from 6.5% 9%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on SBA 7A loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

Maximum Interest Rates on SBA 7A Loans for November 2017

Detailed SBA 7(a) Interest Rate Explanation* Please note SBA 7A Express loans carry a higher interest rate for similar size amounts and terms than the standard 7A loans above. We recommend avoiding SBA Express loans as firms like SmartBiz can provide approval for the standard 7A with similar turnaround times.

As the table above shows, the maximum interest rate on SBA 7(a) loans is based on three factors:

  1. A base rate (one of the following publicly available interest rate measures): Prime Rate, LIBOR (one month) + 3.0%, or SBA Peg Rate
  2. The term of the loan: Less than 7 years or greater than 7 years. For example, 3 and 5 year loans would all fall into the same category of under 7 years.
  3. The size of the loan: Under $25,000, $25,000 to $49,999, and over $50,000. For example, loans of $30,000 and $45,000 will fall under the same category.

As the table shows, loans longer than 7 years have a maximum interest rate which is half a percent higher than similar size loans that are for terms that are less than 7 years.

Loans for more than $50,000 have 1% lower maximum interest rates than loans between $25,000 and $49,999 when taken for similar terms. Similarly, loans for $25,000 to $49,999 have 1% lower maximum interest rates than loans for less than $25,000.

Fixed vs. Variable SBA Interest Rates

7A loans can have a fixed or variable interest rate. With a fixed rate loan, the loan interest rate remains constant throughout the life of the loan. With a variable rate loan, the loan’s interest rate can change (often referred to as a reset) at regular intervals, such as quarterly or monthly.

With variable rate SBA 7A loans, the rate is reset based on one of three publicly available market interest rate numbers, plus a fixed percentage. The interest rate must always be at or below the maximum interest rate set by the SBA. For smaller size SBA loans (for example those under $500,000), banks tend to offer only variable rate loans, with interest rates at or close to the maximum allowable by the SBA.

The Base Rate And Interest Rate Resets

Banks can choose one of three market interest rate measures as their base rate. These are the prime rate, LIBOR + 3.0%, or the SBA peg rate. While there are small differences between these rates, they tend to track each other very closely. The Prime Rate is the one that s most commonly used.

Rates as of November 1, 2017:

  • Prime Rate: 4.25% (source: WSJ)
  • LIBOR (one month) + 3.0%: 4.24% (source: Bankrate)
  • SBA PEG Rate: 2.625% (source: National Association of Government Guaranteed Lenders)

These rates can go up or down based on market conditions. Currently, they are at decade low levels. Over the last 10 years, the Prime Rate has been as high as 8.3%.

With a variable rate SBA 7A Loan, as market interest rates rise so will the rate on the loan. Let’s take the example of a 10-year loan for $50,000 with interest rates rising by 2%.

The maximum interest rate on the loan currently would be 7.75%, with a monthly payment of $600 per month. With a 2% rise in interest rates upon the interest rate reset, the rate would be 9.75%, with a monthly payment of $654 (this would be the monthly increase for a newly issued loan. If the loan was older, the increase in monthly payment would be lower).

Interest Rates Are Not The Only Costs To Borrowing Money: APR/APY

When taking a loan, there is often an origination fee. This fee supposedly covers the costs of the bank or financial institution of making the loan, including marketing costs. However, the origination fee is not directly based on costs and is arbitrarily set by the financial institution. An origination fee of 4% is not unusual. The fee is typically taken “off the top”. For example, a borrower taking a $50,000 SBA loan with a 4% origination fee would only receive $48,000.

SBA 7(a) loans also have a guarantee fee. Initially, the lender pays this fee to the SBA, but it s almost always passed on to the borrower at closing. Currently, the SBA has waived fees for loans under $150,000. Above that, the fee typically ranges from 3 % to 3.5 % of the guaranteed portion of the loan. The exact percentage depends on the size of the loan and the length of the loan. For example, if a borrower takes a $250,000 10-year 7a loan, the SBA may guarantee 75 % of that, or $187,500. 3 percent of that amount, or $5,625, is the guarantee fee that will be charged to the borrower. For more info, click here.

The true cost of borrowing money (interest rate + fees) is often called the APY (Annual Percentage Yield) or APR (Annual Percentage Rate). On a ten year SBA loan, the effect of fees can create an APR or APY that is around 1% higher than the loan’s interest rate. The shorter the loan the bigger the impact that fees will have on the APY/APR.

What size SBA loan could you qualify for? Apply with SmartBiz and get an estimate in minutes.

November 2017 SBA Loan Rates On Real CDC / 504 Loans

The Small Business Administration (SBA) sets the maximum interest that banks can charge on CDC/504 loans. The current maximum interest rate ranges from 3.83% to 4.56%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on CDC/504 loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

While a 7A SBA Loan can be used to purchase real estate, a Real CDC / 504 Loan will tend to provide borrowers with tremendous interest rate savings. A CDC / 504 loan is composed of two loans:

  1. A loan from a financial institution (bank) for typically 50% of the price of the property, equipment, and building upgrades.
  2. A loan from a Certified Development Company (a non-profit) for 40% of the price.

The remaining 10 % is a down payment from the borrower. The interest rates on the bank portion of the loan are not set by the SBA. However, the interest rates on these loans tend to be very low, currently in the mid-single digits. Because the bank loan is senior to the CDC loan and the loan is backed by real-estate, there is a low risk that the bank will not be able to get back the money it loans. The low-risk is reflected in the low-interest rates.

The maximum interest rate on the CDC portion of the loan is set by the SBA.

If you re in the market for commercial real estate and will occupy at least 51% of the space, you may be a good candidate for an SBA 504 loan. We recommend working with Liberty SBF for SBA 504 loans. If you have credit score is above 680 (check here for free), you ve been in business 4+ years, are profitable, and need more than $1,000,000, speak with Liberty SBF today.

If you need a commercial real estate loan of $500,000 $5,000,000, another option is a 7(a) loan with a 25-year repayment term. If you have a credit score above 680 (check here for free), you ve been in business 3+ years, are profitable, and will occupy at least 51% of the space, get prequalified in minutes with SmartBiz.





How to get a business loan, options & requirements, Business Victoria, applying

Apply for a business loan

Not what you’re looking for?

  • Choosing a loan you need
  • Improve your loan approval chances
  • Risk assessment

When applying for a business loan, it’s essential to prepare a detailed business plan and fully inform the lender about your proposed venture. This information helps the lender to provide you with the right type of finance and advice.

Deciding that your business needs a loan is only the first step. There are a number of things to consider before you approach a lender:

  • how much do you need to borrow?
  • what type of loan will you need?
  • how long will you need it for?
  • can the business afford to repay the loan, interest and any one-off or ongoing fees that come with the loan
  • what security can you offer the lender and how this affects the interest rate offered.

Online repayment calculators are a good tool in researching options but make sure you take the following into account:

Access to funds you borrow

If you need to access the funds on a semi regular basis to help with cash flow to keep the business operating while waiting for your customers to pay for goods, ‘at call’ loans such as an overdraft or line of credit are designed for this purpose. However, if you need the funds to buy a new business or equipment to expand your existing business you will need the funds ‘upfront’. This is also known as a ‘fully drawn advance’ and provides you with the entire loan amount all at once.

Loan terms

Loans provided upfront will need a portion of the loan plus interest paid back at regular intervals. The repayment amount will depend on the term or length of the loan. To determine the loan term suitable for your business you will need to calculate how much you can afford to service the loan. Be aware that the longer the loan term the more total interest you will pay. Loans that are at call have no fixed terms.

Ongoing funding

This is the average amount of an overdraft or line of credit that is used at any one time. For example, you may wish to have an overdraft limit of $20,000 to provide money for the occasional big expense, but usually you won’t use more than $5000 of that credit limit on average. So in this case $5,000 is the level of ongoing funding you need.

When applying for an overdraft limit, things to watch out for are:

  • higher the overdraft amount higher the fees
  • clauses where the lender can demand repayment of the whole loan at any time.

Fixed or variable interest rate

The choice of rate will affect the stability of repayments, overall cost of the loan and the loan features available. With a fixed rate loan the lender bears the risk of interest rate moves, while with a variable rate you will bear this risk. Ultimately, the choice of variable or fixed rates will depend upon how much free cash flow your business generates after you have paid all your expenses, including loan repayments. If your business has a low profit level, a variable rate loan repayment may rise beyond your ability to pay.

Loan security

Loans can be secured or unsecured by various types of assets, including residential, commercial, rural property or business assets. Alternatively, some loans are unsecured by any asset. Generally the less you provide for security the higher the interest rate will be. Be aware the lender has the legal right to seize any property or asset you offer as security if you can’t repay a loan on time.

There can be fees which can make a loan less attractive than it first seems. These include one-off fees such as establishment/application fees, exit/discharge fees and early termination fees or regular fees such as service fees or line/credit advance fees. The Business Loan Finder tool includes the cost of set-up and ongoing fees in the average monthly repayment to give you a better idea of the true cost of the loan.

Seek advice

The information provided here will provide you with a range of possible finance options. It is important to seek advice from your accountant or business advisers before approaching a lender for a loan.

Tip: Use our below Cashflow forecasting template to plan your cash flow and work out how much you need to lend.

Plan the business, plan the finance

Lenders will ask for a lot of in-depth information about the financial history of the business. It’s also important for you to create a convincing and detailed business plan which should include a profit and loss budget and cash flow forecast. The information you use to build your business plan may also be needed by the lender to assess your project. This includes both the past and future plans for your business, the people working in it and the market itself.

The outcome of your application is strongly influenced by how well your proposal is researched and how well it is presented.

Risk assessment

Banks and other lenders will look at your business’s risk profile when considering your loan application. Understanding what lenders look for and what they consider risky will help you present your business in a favourable manner.

As a general rule, lenders look for:

  • the level and nature of your security (what you’re offering to give them if you can’t repay the loan)
  • your ability to make regular loan repayments (cash flow risk)
  • your ability to ultimately repay the debt (business risk), including any other debts you might already have.

You need to be able to assess the level of cash flow or business risk in your specific circumstances. A projection of the cash requirements of the business is most important to a lender, as it is the actual cash left after expenses that will repay the loan, not income. It also shows you are an effective manager.

A lender’s perception of risk

The following factors can influence your lender’s perception of risk. If a number of these areas apply to you and your business you may need to consider another source of finance.

  • start up businesses incorporate financial, business and management risk
  • lack of security
  • lack of business history
  • industry sector, factors will include levels of competition, barriers to entry, profitability profile and current economic conditions
  • highly seasonal businesses, for example swimwear and agriculture. You’ll need to demonstrate how you’ll deal with cash flow pressures in the off season
  • lack of planning, market knowledge and finance skills
  • poor credit history.

Watch out! Before entering into a payment arrangement with the Tax Office, businesses should discuss this with their current or future lenders. Many businesses are unaware that entering into a payment arrangement with the Tax Office or other government agencies may adversely affect their current and future financing arrangements. For instance, a lender may not lend to a business if it is currently in a payment arrangement.

For more details visit the Guide to managing your tax debt on the ATO website.





Loan Monthly Payment – Buisness Loan, loan business.#Loan #business

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Small Business Loans, TD Canada Trust, loan business.#Loan #business

Small Business Loan

7:00 a.m. – 12:00 a.m. EST

Ways To Apply

Or, to begin an application, call our Small Business Advice Centre at 1-866-222-3456

7:00 a.m. – 12:00 a.m. EST, 7 days a week

Small Business Loans

Loan business

Available Fixed or Floating Interest Rates for Small Business Loans

Flexible Business Loan Payment Options

A Business Loan 1 can help you purchase or upgrade business assets, or help with your expansion plans. The choice is yours.

Secured or unsecured options

  • Available as an unsecured loan 2 in amounts from $10,000 to $50,000
  • Also available as an asset secured loan in amounts from $10,000 to $1,250,000. Flexible security options 3 include:
    • Business real estate
    • Residential real estate (full or partial)
    • Liquid or margin security (full or partial)
    • Business assets

Flexible payment options

  • Choice of 1 to 5 year fixed-rate terms
  • Amortization up to 20 years, based upon the useful life of the asset financed

Fixed or floating interest rates available

  • Floating interest rate options based on TD Prime Rate with no prepayment penalties.
  • Fixed interest rate options available with the flexibility to make 10% principal prepayments annually without penalty.
  • No review fees.
  • Set-up fees may apply.

Protection for your Business Loan

Business Credit Life Insurance can help meet the financial obligations of your business should a person who is key to the success of your business die or suffer a covered accident. Get the coverage your business needs.

Multi-unit property mortgages

We can help you build a customized mortgage for multi-unit residential properties (5+ units).

Expand Let’s continue the conversation

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your business needs.

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1 Subject to complying with TD Canada Trust lending policies and criteria including confirmation of good personal credit history. Certain business documentation is required. Other conditions may apply. Set-up fees may apply. Personal guarantee(s) may be required.

Services
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Ways to Bank
Contact Us
  • Contact an Account Manager, Small Business
  • Branch Locator
  • Contact a Regional Agriculture Specialist
  • Talk to Us: 1-866-222-3456

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Small-Business Loans – 3 ways to get a loan, getting a business

3 ways to get a small-business loan

The recovering economic environment has meant that small businesses have had to be more creative when looking for loans.

However, companies with sound business strategies still can borrow. Options include loans from traditional banks and institutions affiliated with the Small Business Administration, as well as financing from Internet-based lenders.

“For creditworthy, high-scoring small businesses, there is money available,” says George Cloutier, CEO of American Management Services, a consultant to small businesses.

Bank loans

The best place to get a small-business loan is still a bank, says Cloutier. Banks typically offer the lowest interest rates and many have established reputations as trustworthy lenders.

“Many small businesses try three or four banks and then stop looking,” Cloutier says. A more persistent approach has better odds of success.

Calculate business loan payment

Want to calculate your small-business loan payment? Go to Bankrate’s loan and amortization calculator.

“Take out the phone book, target 10 banks and work through that list,” he says.

That strategy worked for Michael McKean. He is founder of The Knowland Group, a company that helps hotels fill up their meeting space.

A few years ago, as the success of The Knowland Group grew, McKean began searching for a bank that would give the growing company expanded access to credit.

“We talked to every bank in our area, at least a dozen,” McKean says. “Many came back with proposals, but the terms were very onerous. Or sometimes they shifted terms.”

Finally, M T Bank came through.

“They just wanted to get our business,” McKean says.

McKean says his company did not approach M T any differently than it had approached the other banks. It was just a matter of being persistent until the right deal came along, he says.

“We did everything right, approaching the right person at each bank,” he says. “We’re a profitable business. I think it was just the … credit crunch that prevented us from getting a loan.”

Cloutier says the key to success with banks is to show past profitability, and to describe a well thought-out plan for future profits.

“If you aren’t making a profit now, you must be able to tell the bank how you will change that in the short term, or you really won’t be able to get a loan,” he says.

He also recommends that businesses start small in their loan requests.

“If you need money for four trucks, ask for two,” Cloutier says. “The bigger the loan request, the harder it is to get it approved.”

SBA loans

Another way to find a bank loan is through the Small Business Administration, or SBA. The SBA can direct you to banks that offer loans guaranteed by the agency. This way, you’ll have the advantage of approaching banks specifically interested in lending to small businesses.

Interested businesses should contact the SBA office nearest to them, which can be found on the agency’s website. Jeanne Hulit, the SBA’s acting administrator, urges businesses to seek a bank that is an experienced SBA lender.

Banks granting SBA loans place increased emphasis on business plans, cash flow and profit forecasts in deciding whether to lend, she says. The SBA also can refer businesses to free counseling centers to improve their performance.

Online opportunities

Another source for loans is the Internet. There are several sites where businesses can seek alternative lenders, such as individuals and small companies.

Interest rates are generally a little higher than what a bank will charge, but it’s much less than what you’ll have to pay on many credit cards.

Look around at different sites, some may charge a one-time fee to list your business, while others are free to list but might have fees reflected in loan rates.

If you’re going to list your company on one of these sites, describe your business in clear and concise language.

Lastly, make sure to investigate the company you are looking to post your business on. These kinds of companies were successful in 2008 and during the recession, but times have changed. Many have since gone out of business. Before paying for anything, make sure the company is legit.





5 things to do before you apply for a small business loan,

5 things to do before you apply for a small business loan

Obtaining a loan is notoriously difficult for small businesses, but there are ways to improve the appeal of your loan application.

Borrowing funds is just one of the ways small businesses can generate capital, and indeed it is a common practice. According to APRA’s Monthly Banking Statistics report, lenders in Australia had a hefty $588.9 billion worth of loans and advances on their books to non-financial corporations as of April 2015.

For small businesses, though, obtaining a loan can be difficult – but it is far from impossible. Instead of counterproductively applying for loans left, right and centre in the hope one is approved, check your readiness to borrow funds using these five tips to boost your chances of success.

1. Check your credit-history report

Check your credit report to examine the credit details held on file about your business and yourself as a company director. Familiarising yourself with this information places you in a better negotiating position with potential lenders, and allows you to clear up any incorrect defaults that may hold you back from obtaining finance.

2. Research the best rates

Being eligible for a loan is one thing, but consider how those loan repayments will influence your ongoing cash flow. Research which lenders offer the best rates to small businesses, then target your application according to their lending criteria. Knowing what rates are available on the open market also gives you better bargaining power to further reduce your rate.

Determine exactly why you need to borrow funds, how you intend to repay the loan and what the money will be used for. Your accountant or financial advisor will be able to suggest alternative means of raising capital that may work better for your business, or help you identify the most appropriate loan products, as well as keep your operating finances in good health.

4. Get your documentation together

Once you know which lender you want to approach and why you need the funds, build a dossier of relevant documentation as evidence to support your application. Include everything from banking statements and invoices through to your business plan, forward revenue projections, product prototype designs, business insurance policy details and competitor analysis.

Use everything you have gathered from the points above to really sell yourself and your business.

What makes you stand out from your competitors?

Why should a lender loan you money?

How do you intend to repay the funds?

What deposit or assets will you use as security against a loan?

Exactly what will the funds be used for?

Who are your intended customers?

Just like setting up a business, applying for a business loan is a process best approached with as much information as possible. Should your application still be declined, consider the steps outlined by business.gov.au for how to manage a loan refusal.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.





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Business loan application, Westpac, apply for a business loan.#Apply #for #a #business

Can I ensure my business loan application is accepted?

Whether you’re considering a business loan now or in the future, it makes good business sense to know what criteria a bank looks for when assessing your business loan application and what you can do to improve the likelihood of being accepted.

Assessing your business loan application

When assessing your business loan, we’ll ask you:

  • Can you afford the business loan?

We’ll need your financials for the last 2 years including balance sheets, profit and loss and tax returns. Having access to this historical information helps us determine whether your business can meet your future loan repayments.

  • Can you provide security for your loan?

    You’ll need to secure your business loan with an asset, usually property (residential, commercial or rural) depending on the type of business. Find out what you can use as security for your business loan.

  • Will you be able to continue making repayments?

    We’ll evaluate your business by looking at your plans, competitor activity, suppliers and business contracts to determine whether your business will have enough revenue to meet your repayments in future.

  • What if you’re starting a new business?

    If you’re starting a business, you won’t have historical financial statements but you will need to provide a detailed business plan with profit and loss forecasting to support your business loan application.

    How to strengthen your business loan application?

    Improve your future borrowing potential by taking some basic steps today:

    • Maintain accurate, up to date financials. This provides a clear understanding of your business income and whether you can afford the business loan.
    • Make sure you have enough money to cover costs. If you have an existing business loan don’t overdraw your account and make consistent additional repayments when possible.
    • Maintain a good credit history by paying off your debts on time. All your credit activity (personal and business) is kept on file for 5 years – including your loan details, repayments, overdue accounts – and lenders use this information to assess whether you’re credit worthy

    If you’d like to discuss your options with a business manager, complete our short enquiry form and we’ll contact you or call us on 132 142 (8am-8pm, Mon – Fri).





    Small Business Loans, TD Canada Trust, apply for a business loan.#Apply #for

    Small Business Loan

    7:00 a.m. – 12:00 a.m. EST

    Ways To Apply

    Or, to begin an application, call our Small Business Advice Centre at 1-866-222-3456

    7:00 a.m. – 12:00 a.m. EST, 7 days a week

    Small Business Loans

    Apply for a business loan

    Available Fixed or Floating Interest Rates for Small Business Loans

    Flexible Business Loan Payment Options

    A Business Loan 1 can help you purchase or upgrade business assets, or help with your expansion plans. The choice is yours.

    Secured or unsecured options

    • Available as an unsecured loan 2 in amounts from $10,000 to $50,000
    • Also available as an asset secured loan in amounts from $10,000 to $1,250,000. Flexible security options 3 include:
      • Business real estate
      • Residential real estate (full or partial)
      • Liquid or margin security (full or partial)
      • Business assets

    Flexible payment options

    • Choice of 1 to 5 year fixed-rate terms
    • Amortization up to 20 years, based upon the useful life of the asset financed

    Fixed or floating interest rates available

    • Floating interest rate options based on TD Prime Rate with no prepayment penalties.
    • Fixed interest rate options available with the flexibility to make 10% principal prepayments annually without penalty.
    • No review fees.
    • Set-up fees may apply.

    Protection for your Business Loan

    Business Credit Life Insurance can help meet the financial obligations of your business should a person who is key to the success of your business die or suffer a covered accident. Get the coverage your business needs.

    Multi-unit property mortgages

    We can help you build a customized mortgage for multi-unit residential properties (5+ units).

    Expand Let’s continue the conversation

    Find an Account Manager, Small Business

    Talk to an Account Manager about

    your business needs.

    Visit us in person

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    1 Subject to complying with TD Canada Trust lending policies and criteria including confirmation of good personal credit history. Certain business documentation is required. Other conditions may apply. Set-up fees may apply. Personal guarantee(s) may be required.

    Services
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    • Contact an Account Manager, Small Business
    • Branch Locator
    • Contact a Regional Agriculture Specialist
    • Talk to Us: 1-866-222-3456

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    Lending – Meredith Village Savings Bank, business loan application.#Business #loan #application

    Meredith Village Savings Bank

    We’re there for your business when – and where – you need us.

    Every business needs a ready supply of capital to succeed. Whether you need money to fund a start-up, expand an existing business, upgrade equipment or property, increase inventory, or simply continue operations during seasonal slowdowns, Meredith Village Savings Bank has options that work for you.

    Our Business Team will work closely with you to find solutions to suit your venture. We understand business. We also understand the challenges and rewards of doing business in New Hampshire.

    Call us, and we’ll come to you to discuss the options that best suit your needs including:

    • Standard business loans such as term, installment and construction loans
    • Commercial real estate loans, including affordable housing financial packages
    • Business lines of credit and letters of credit
    • Time notes
    • Credit enhancement programs, such as Small Business Administration and Business Finance Authority Loans

    When you choose to partner with Meredith Village Savings Bank, you get our undivided attention. Together, we can decide what lending program might work best for you.

    ezbusiness Loan

    Looking to expand your business? Need cash for a new company vehicle? High-speed, high-performance computers for the office? At MVSB, we understand that regardless of what you need financing for, you probably need it sooner, rather than later.

    With an ezbusiness Loan from MVSB, your business will have access to the funds it needs in no time! Enjoy a simplified application process, along with these other benefits:

    • Expedited process for approval and closing
    • ezbusiness Term Loan- term loans from $5,000 to $100,000
    • ezbusiness Lines of Credit- revolving lines of credit from $5,000 to $100,000

    Business Credit Card

    Through our partnership with FirstBankcard, a division of First National Bank of Omaha, we offer a variety of business credit cards to meet your needs. Separate your business and personal expenses while you enjoy:

    • Free 24/7 online access for managing your account. Your Authorized Company Representative can view transaction activity and history, pay your bill, set up your alerts and more.
    • Free management reports to help you track expenses, monitor your spending, spot tax deductions, prepare your tax filings and forecast expenses more easily.
    • Cash flow management with the flexibility to cover the cost of supplies, equipment, travel and more.

    Learn more or apply now to enjoy this wide range of benefits.

    Just starting a business?

    If you’re thinking about starting a business, let’s discuss your plan and funding needs. First, however, you should get some items ready. Visit the links below before we begin exploring business loans for guidelines on how to write a clear and concise business plan.





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    Why are multi-nationals like Amazon still investing here if the company tax rate is such a turn-off?

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    Turnbull has big choices to make, but picking a favourite ally isn t one of them

    Why are multi-nationals like Amazon still investing here if the company tax rate is such a turn-off?

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    Video 0:29 Aerial view of Grange Resources Port Latta facility, in north-west Tasmania

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    Small Business Financing, TD Canada Trust, loan for small business.#Loan #for #small

    Small Business Financing

    7:00 a.m. – 12:00 a.m. EST

    Loan for small business

    Helping you start, purchase or grow your business

    How to apply

    Visit your local

    TD Canada Trust branch

    Government Grants for Small Business

    With a Canada Small Business Financing Act Loan (CSBFL), TD Canada Trust and the Government of Canada work together to help you with the financing of your existing business or start-up. A CSBFL can help you get the loan you need to expand, purchase, or improve the fixed assets within your business.

    Features of the CSBFL include:

    • Loan amounts available up to $1,000,000 1
    • Financing available for up to 90% of the “Eligible Costs” 2 of assets financed
    • Monthly repayment frequency with a choice of terms, up to a maximum of 10 years. A repayment schedule reflecting an amortization of up to 20 years may be available 3
    • Competitive fixed and floating interest rates are available
    • Personal guarantee required, starting at 25% of the loan amount 4
    • Loan may only be used for certain purposes
    • One-time Federal Government registration fee of 2% of the loan amount (which may be included in the amount borrowed)
    • A 1.25% Administration Fee is included as part of your interest rate
    • Standard TD Canada Trust Set-up fees apply

    Do you qualify?

    Here are some of the government’s requirements 5 for a CSBFL:

    • Your business operates or is about to operate in Canada
    • Your business’s annual gross revenue is less than $10 million in the year you apply
    • Your business is for profit, and is not a farm, charity, or religious enterprise
    • The assets purchased or improved must be used in your business




    Government Small Business Loans, loan for small business.#Loan #for #small #business

    Government Small Business Loans

    Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.

    For-profit lenders are reluctant to issue loans to anyone who does not have a strong credit report and financial history. That is not the case with government small business loans. Obviously, a decent credit report is important, and you will have to follow the guidelines regarding the repayment period and the interest rate set by the government, but usually the interest rates charged by government loans are lower than those you could expect in the private sector.

    More about Government Small Business Loans

    Government loans are typically offered through banks and credit unions that partner with the Small Business Administration (SBA). The SBA is a U.S. government body, with the motive of providing support for small businesses and entrepreneurs. For each loan authorized, a government-backed guarantee offers serious credibility, since the lender knows that even if you default, the government will pay off the balance. These loans can be applied to a number of uses, such as:

    • Purchase of new equipment, machinery, parts, supplies, etc.
    • Financing leasehold improvements
    • Commercial mortgage on buildings
    • Refinance existing debt
    • Establishing a line of credit

    Government small business loans benefit both small businesses and the lending agency. For small businesses, it is beneficial because this is money capital they may not have access too. For banks, the loan’s risk is decreased due to the loan being backed by the SBA.

    Different SBA Government Loans

    The SBA extends financial help through various lending programs it has to offer. Some of the more popular loans are:

    • 7(a) Loan Guarantee Program: aimed primarily in helping a small business start or expand its services. The maximum size of such a loan is $5 million.
    • MicroLoan Program: mostly used for short-term purposes, such as purchase of goods, office furniture, transportation, computers, etc. The maximum amount is fixed at $50,000.
    • 504 Fixed Asset Program: featuring fixed-rate and long-term financing, these loans are aimed at applicants whose business model will benefit their community directly, either by providing jobs or bringing needed services to an underserved area. Again, the maximum amount is $5 million.
    • Disaster Assistance: under this program, loans are sanctioned to renters or homeowners with a low-interest, long-term plan for the restoration of property to its pre-disaster condition.

    In most cases, maintaining a good business credit report is enough to qualify. In addition, it instills confidence not only in the lender, but also in you. There is at least one SBA office in every state in America. If you contact them regarding the startup status of your business model and plan, you can get started on a government small business loan that will give you the financing to make your dreams a reality.





    Small business loans, Westpac, small business loan.#Small #business #loan

    Small business loans

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    • Unsecured (guarantee may be required), or secured by real property*

    Business Loan

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    Take the next step in your business plan.
    • Great for purchasing an existing business or franchise, or investing to grow.
    • Unsecured (guarantee may be required), or secured by real property*.
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    Small business loan

    • Choose between a line of credit for flexibility or a loan to grow your business
    • Option to pay interest only
    • Ideal short term finance option
    • Secure against residential or commercial property.
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    Small business loan

    Make lump sum annual insurance premiums a thing of the past by paying with monthly instalments.
    • Available to businesses with annual total insurance costs over $5,000.
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    Looking for other ways to finance your business purchases?

    Check out our business credit cards

    Get started online

    We’ll be in touch within 1 working day.

    Find a business banker

    Call or visit your local branch

    Things you should know

    * Real property in the form of residential, commercial or rural property.

    Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

    Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.





    Best ways to get a small business loan, Clark Howard, getting a

    Best ways to get a small business loan

    Getting a small business loan

    Getting a loan as a small business or an entrepreneur hasn t always been easy. Big banks generally don t care about you and the small community banks that were a pipeline of money for would be entrepreneurs have greatly thinned out after the Great Recession.

    Thankfully, microloans financiers and peer-to-peer (P2P) lenders are filling the vacuum and have stepped up with funds for small business owners.

    Here s a look at the best websites for small business lending

    P2P lending is a way to cut the banks out of the equation that allows people to go online to borrow or lend money directly to each other. Prosper.com is the granddaddy in the field, but LendingClub.com has been growing nicely in recent times and actually overtaken Prosper as the industry leader.

    You get your money fast once you pass underwriting with both Prosper and LendingClub. There s no waiting as you might with traditional banks that take forever to underwrite a loan. Prosper has helped arrange $6 billion in lending, but rates range from 5.99% to 36.00% APR, according to the website. LendingClub, meanwhile, has similar interest rates and has funded $15 billion in loans to date. But note this well: Interest rates at both lenders are on the rise because of recent market conditions.

    Then there are yet other newer players in the field like FundBox and BlueVine. Both will lend against your credit card receivables based on the historical amount of charge volume your business does. They offer credit lines to you with minimal paperwork, and use proprietary algorithms to make lending decisions. FundBox lends in less than an hour! The loans are not cheap, but they are quick. So the issue with them becomes the interest rates you re charged.

    Getting money specifically for online businesses

    Are you an existing online business looking for money to grow? PayPal may have a solution for you. The e-commerce business offers a financing option for its business customers called PayPal Working Capital. There is no credit check done of you or your business. PayPal is instead making lending decisions using a proprietary algorithm based on the historical value of your eBay sales and PayPal transactions. So if you have a good revenue stream, they lend you money against future revenue that comes in on PayPal.

    As PayPal transactions clear, they siphon off a portion for loan payments. It s a low-risk loan for them because you have a history and they assume you won t disappear as a seller. Your maximum loan amount can be 15% of your total sales volume, up to $85,000 annually. You are required to pay at least 10% of your total loan amount (loan + the fixed fee) every 90 days so that you make consistent repayment progress regardless of your sales volume, the company notes on its website.

    Another similar option to check out is Square Capital. For customers who use their payment-processing devices, the company will now make loans available. Fees will amount to between 10% and 16% of the amount borrowed. Much like PayPal model, Square will take around 10% of each transaction you process through their platform to pay back the loan. Loan term can stretch as long as 18 months, which is twice as long as the typical cash advance, according to The Wall Street Journal.

    So what we re seen are easier, more streamlined ways for small business owers to borrow. Clark has also talked in the past about Kabbage.com as another option. And Amazon actually beat PayPal to the punch doing this kind of lending in an effort to grow Amazon Marketplace to compete with eBay.

    Crowdfunding sites offer another route

    Crowdfunding sites are another alternative that have popped up in recent years. With crowdfunding, a borrower only gets the money if enough people agree to put up little chunks. If you don t get 100% funding for a potential project, you get no money at all. Some of the most popular crowdfunding sites include Kickstarter.com and IndieGogo.com. And don t forget to check out the Forbes list of the Top 10 crowdfunding sites.

    Microlending is another alternative to the traditional big bank route. Grameen America makes loans of $500 to $2,500 to clients who have little collateral. Many of their clients are Latinas who have businesses centered around baking, sewing, and cleaning, according to Charlotte s ABC affiliate WSOC-TV. Borrowers attend weekly group meeting with a Grameen staffer to share tips about having more successful businesses.

    If you have an entrepreneurial idea you need to get off the ground, or you need to grow your existing small business, check these sites out!





    How to Get a Business Loan, getting a small business loan.#Getting #a

    How to Get a Business Loan

    Getting a small business loan

    Sooner or later most small businesses need to know how to get a business loan, whether to get the operating capital for business startup or to finance an expansion. But whether you re approaching a bank or a friend for a business loan the lender will have the same expectations.

    You can greatly increase your chances of successfully securing a loan by being prepared to meet those expectations.

    Put yourself on the other side of the desk for a moment.

    If someone asked you for a small business loan, you d want to know exactly why he or she wanted the money and what the chances were that he or she would repay the loan in full and on time.

    The key to getting a loan is preparation. First, gather together the documents that will help persuade the lender that a business loan is necessary and that you are a good risk.

    Documents Needed

    • A business plan – The business plan shows the lender not only why you want a small business loan but what you plan to do with the money. Don t have one yet? Here s a simple business plan template you can use.
    • Cash flow projections – What s the first question any lender has? Will you be able to repay the loan? Your business s cash flow projections give lenders concrete financial data that they can use to assess this risk.
    • A statement of your personal financial status – A list of your personal assets and debts to give the lender a fuller financial picture.

    You may also need these documents:

    • Past business tax returns – If your business is established and you have past business tax returns, it s a good idea to take them with you. They ll give the lender a better idea of how your business is doing financially.
    • A credit rating report – Basically, you establish a credit rating by buying things on credit and paying back the money you owe. Your loan repayment history plays a big part in establishing your credit rating, but all your credit dealings make up the history that s used to determine your credit rating.

    It s not necessary that you include a credit report with your small business loan application; it s easy enough for potential lenders to check your credit rating. But if you don t know what your credit rating is or suspect your credit rating is tarnished, you may want to get one.

    In the U.S., you can get a free credit report once a year through the website AnnualCreditReport.com. For more information, see How to Get a Free Credit Report.

    In Canada, you can get a free credit report by contacting one of the two credit reporting agencies, TransUnion or EquiFax Canada. To receive your free credit report you will need to mail or fax one of these companies a request along with copies of two pieces of I.D. Note that you will not be able to get a free credit report through the website of either company; you will be charged a fee for an online report. CreditKarma provides free online credit reports through much of Canada.

    The credit report you receive will include information on what to do if you find errors in the report. If you have a poor credit rating, you will want to take steps to repair your credit rating before trying to get a business loan.

    Making the Presentation to the Lender

    The next step in how to get a business loan is to persuade the lender that your business is viable and you are a good credit risk.

    You need to prepare in advance to make a winning loan presentation.

    Start by considering the lender s point of view. You want money. But he or she is most interested in the answers to these two questions: What are you going to do with the money? and Are you a good risk? , and to make a successful business loan presentation, you need to come up with the right answers to these two questions.

    Answering the first question means being fully conversant with all the details of your business plan and being able to point to the relevant financial statements, charts or graphs that will help convince the lender that you need the amount of money you re asking for to do what you want to do.

    Answering the second question means having already given some thought to the credit risk you represent to the lender and being ready to address their concerns.





    Small-Business Loans – 3 ways to get a loan, business loan.#Business #loan

    3 ways to get a small-business loan

    The recovering economic environment has meant that small businesses have had to be more creative when looking for loans.

    However, companies with sound business strategies still can borrow. Options include loans from traditional banks and institutions affiliated with the Small Business Administration, as well as financing from Internet-based lenders.

    “For creditworthy, high-scoring small businesses, there is money available,” says George Cloutier, CEO of American Management Services, a consultant to small businesses.

    Bank loans

    The best place to get a small-business loan is still a bank, says Cloutier. Banks typically offer the lowest interest rates and many have established reputations as trustworthy lenders.

    “Many small businesses try three or four banks and then stop looking,” Cloutier says. A more persistent approach has better odds of success.

    Calculate business loan payment

    Want to calculate your small-business loan payment? Go to Bankrate’s loan and amortization calculator.

    “Take out the phone book, target 10 banks and work through that list,” he says.

    That strategy worked for Michael McKean. He is founder of The Knowland Group, a company that helps hotels fill up their meeting space.

    A few years ago, as the success of The Knowland Group grew, McKean began searching for a bank that would give the growing company expanded access to credit.

    “We talked to every bank in our area, at least a dozen,” McKean says. “Many came back with proposals, but the terms were very onerous. Or sometimes they shifted terms.”

    Finally, M T Bank came through.

    “They just wanted to get our business,” McKean says.

    McKean says his company did not approach M T any differently than it had approached the other banks. It was just a matter of being persistent until the right deal came along, he says.

    “We did everything right, approaching the right person at each bank,” he says. “We’re a profitable business. I think it was just the … credit crunch that prevented us from getting a loan.”

    Cloutier says the key to success with banks is to show past profitability, and to describe a well thought-out plan for future profits.

    “If you aren’t making a profit now, you must be able to tell the bank how you will change that in the short term, or you really won’t be able to get a loan,” he says.

    He also recommends that businesses start small in their loan requests.

    “If you need money for four trucks, ask for two,” Cloutier says. “The bigger the loan request, the harder it is to get it approved.”

    SBA loans

    Another way to find a bank loan is through the Small Business Administration, or SBA. The SBA can direct you to banks that offer loans guaranteed by the agency. This way, you’ll have the advantage of approaching banks specifically interested in lending to small businesses.

    Interested businesses should contact the SBA office nearest to them, which can be found on the agency’s website. Jeanne Hulit, the SBA’s acting administrator, urges businesses to seek a bank that is an experienced SBA lender.

    Banks granting SBA loans place increased emphasis on business plans, cash flow and profit forecasts in deciding whether to lend, she says. The SBA also can refer businesses to free counseling centers to improve their performance.

    Online opportunities

    Another source for loans is the Internet. There are several sites where businesses can seek alternative lenders, such as individuals and small companies.

    Interest rates are generally a little higher than what a bank will charge, but it’s much less than what you’ll have to pay on many credit cards.

    Look around at different sites, some may charge a one-time fee to list your business, while others are free to list but might have fees reflected in loan rates.

    If you’re going to list your company on one of these sites, describe your business in clear and concise language.

    Lastly, make sure to investigate the company you are looking to post your business on. These kinds of companies were successful in 2008 and during the recession, but times have changed. Many have since gone out of business. Before paying for anything, make sure the company is legit.





    Business Loans, Westpac, business loan.#Business #loan

    Business loans

    Business loan

    Vehicle equipment finance

    When you don’t want to use cash flow to purchase new assets.

    • Business vehicle finance: Buy, hire or lease the latest model without tying up your cash
    • Business equipment finance: Buy, hire or lease – the choice is yours when it comes to financing plant and equipment.

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    Provides cash flow relief with funds to cover business expenses, such as invoices and wages until you’re paid.

    • Unsecured Business Overdraft: Up to $50k. No asset security taken. Director’s Guarantee required for Corporate borrowers

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    Great for purchasing an existing business or franchise, or investing to grow.

    • Westpac Business Loan: Borrow from $20,000 and choose between a fixed rate with predictable repayments or variable rate with flexible repayments

    Looking for other business loans?

    Get started online

    We’ll be in touch within 1 working day.

    What are your vehicle repayments?

    Get an estimate of your business vehicle finance repayments.

    Find a business banker

    Call or visit your local branch

    Need some help?

    Articles to help you make a decision on the business loan that’s right for you:

    Learn more about
    Things you should know

    Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

    Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.





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    What are my new business startup costs?

    Before you launch a new venture, you should take the time to estimate the total capital that will be needed. Startup costs are divided into two main categories: one-time startup costs and recurring monthly expenses. Depending on when you expect to receive payments for your goods and services, it may be wise to begin with several months of working capital. Use this calculator to help discover and estimate your total business startup costs. Be sure to only include those items that are essential to start the business.

    Business startup loan

    This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

    Business startup loanBusiness startup loan





    How to get funding for a business without a bank loan, Startups,

    How to get funding for a business without a bank loan

    Business startup loan

    With bank lending figures continuing to fall, thousands of entrepreneurs are looking for alternative sources of funding to get their business off the ground. If you re one such firm, this article provides a comprehensive guide to the tools and options at your disposal.

    A Start Up Loan

    If you are starting a new business or you have been trading for no longer than 24 months, you may be eligible for a government-backed Start Up Loan.

    These are unsecured personal loans of up to £25,000 that must be used for business purposes and are repayable at a fixed 6% interest per annum.

    Bank overdrafts

    For companies with fluctuating income, a bank overdraft can provide quick, flexible cashflow. The idea is simple: you dip into the overdraft in the leaner months, and come back out when the business picks up.

    Most major banks charge interest only on the amount you overdraw, and many offer tailored packages for young businesses.

    We’d love to hear your insight:

    For example, RBS/NatWest provides overdrafts up to £500, free of set-up fees, for a start-up business first 12 months (normally £50). However rates of interest on bank overdrafts are usually charged above base rates (e.g. 6.5% for RBS/NatWest), and in most cases the overdraft amount is repayable on demand.

    Business cash advance

    Companies such as Worldpay, Business Cash Advance and Credit for Merchants allow businesses to receive money upfront before debts and invoices have actually been paid.

    Under the terms of the agreement, the financier purchases a fixed percentage of your future credit/debit card transactions at a discount, and then advances the cash into your bank account, usually within 10 working days. Repayments will be scheduled at a pre-agreed percentage of every transaction usually between 10 and 20%.

    With a cash advance, you can secure up to £100,000 without the burden of collateral or fixed monthly repayments, only paying the advance back when your customers pay you. But you may have to meet a rigorous set of conditions; for example Business Cash Advance insists all clients must have been in business for at least a year, with a minimum monthly turnover of £3,500 and the ability to process credit and debit card transactions.

    Find out more about business cash advances here.

    Asset finance

    An asset-based loan works the same way as a mortgage. You borrow money against an existing possession, and, if you can t meet your obligations, the asset is repossessed. Assets which can be used as collateral include property and premises, accounts receivable, inventory and equipment.

    Although interest rates are often punitive, asset-based finance can be extremely useful for a company desperate for cash, or a business backed by valuable property which has yet to make major profits such as a hotel or plant hire specialist.

    Factoring

    Factoring can speed up cashflow and free up the time spent chasing bad debts, but there are drawbacks. A factor will impose a charge on each invoice, so your profit margins will be reduced, and it can be difficult to sever a contract with a factoring firm, because you have to compensate them for all outstanding invoices before you can formally part company.

    One alternative, which could be more cost-effective, is MarketInvoice, an online marketplace which allows you to auction your invoice to a community of investors. You receive payment straight away and the investor will receive a profit when the payment finally comes in.

    Angel investors

    If you manage to impress a business angel, they may provide investment in return for an equity stake. Most angels are seasoned entrepreneurs themselves, so they know what you re going through and they re likely to be patient.

    Furthermore, the process of finding and enticing an angel is far less daunting than you might think. Take a look at our investor directory to take a look at some of the most active angel funds and angel investors in the UK. If you can put together a tight pitch with realistic growth projections, and are prepared to give up a share of your business, this could be the route for you.

    Crowdfunding

    Crowdfunding is, essentially, an extension of the charity sponsorship page in the business world. People come together, on crowdfunding sites, to pool money towards a particular venture or idea it could be 10 people putting in £500 each, or 3,000 people each giving £1.

    Donors or investors on crowdfunding sites, such as Kickstarter or Crowdcube are typically private individuals providing small sums, so they re unlikely to give you the sort of grilling, and rigorous conditions, an angel investor would. You can also scope out the popularity of your idea via a crowdfunding site, and get some crucial word-of-mouth marketing going.

    If you re interested in raising finance using crowdfunding take a look at our crowdfunding form. We ve partnered with a few crowdfunding platforms to help businesses raise seed or growth capital and may be able to point you in the right direction.

    Peer-to-peer loans

    A peer-to-peer exchange site, such as Zopa or Funding Circle, will put you in touch with private lenders, and create a personal relationship between you and the lender fostering trust and patience.

    A number of companies are now well-established in this space, and several offer generous terms. Indeed Zopa waives all fees for loan applications, reduces interest rates for borrowers who make early repayments, and adds only a one-off fee of £130 to the cost of the loan.

    Micro-loans

    If you only need a very small amount of money, you should think about a micro loan, which is tailored to your circumstances and can be used alongside funding from other sources.

    A number of companies in the UK offer micro loans; for example Finance Wales offers funding from £5,000 to £25,000, with generous repayment terms ranging from one to five years.

    Community schemes

    A plethora of community development finance initiatives, or CDFIs, have been set up around the country to help individuals, and businesses, denied credit by banks and lending companies.

    CDFIs provide help with everything from bridging loans and working capital to funds for property and equipment purchase, but their terms are usually restrictive; you usually have to be either a micro-business or a social enterprise, and be based in a disadvantaged area to qualify.

    Family loans

    If you want to keep things ultra-simple, a supportive family, with money to spare, can provide a fair, willing and reliable source of loan funding. Relatives and loved ones are more likely to trust you with their money than an outsider, and they will probably demand lower interest and fewer incentives than a commercial organisation.

    There are of course some drawbacks when it comes to mixing family and finance, so it s worth weighing up both the pros and cons of family funding.

    Any finance model or provider should be researched thoroughly before you make any commitments, to ensure this is the best solution for your business. You will find more information on some of these finance options in our Raising Finance section.

    We would also recommend researching specific providers or funding platforms online and speaking to other businesses which have used them.





    How to Start a Small Business, Bizfluent, start up business loan.#Start #up

    How to Start a Small Business

    Start up business loan

    Successfully starting a small business requires answering as many questions as possible before you open your doors rather than tackling problems after you’ve already launched. Researching the marketplace, writing a business plan and securing adequate capital are the basic steps to take when you start any small business.

    Items you will need

    • Business plan
    • Credit reports
    • Permits, licenses, insurance

    Research the Marketplace

    Determine who your competition is by looking at companies that offer the same product, service or benefit you do. Visit their stores and websites and buy their products, if possible. Talk to potential customers about what they want from a company or product like yours, and what they think of your competitors. Look at the pricing in your marketplace to help guide you as you make your financial projections. Examine where your competitors are selling and advertising. Create a demographic profile of your best target customer using age, race, ethnicity, gender, marital or parental status and other characteristics.

    Talk to the vendors and suppliers who will sell you materials and equipment, and the retailers or other distribution providers who will help sell your product. Explain your business concept to them and get advice regarding what they’ve seen in the marketplace you need to address.

    Find out what legal steps you need to take, such as getting a local business permit, obtaining a state license, passing health department requirements, incorporating, getting a sales tax license or buying liability insurance.

    Write a Business Plan

    Visit the website of the U.S. Small Business Administration to learn what goes into a business plan and how to write one. You will need to provide an overview of your product or service, an analysis of your marketplace, a marketing plan and financial figures. Look for a SCORE chapter in your area so you can get free advice from retired executives on the first draft of your plan. You can also ask business friends and associates for advice.

    Create a budget, dividing it into sections that list your pre-launch startup expenses and your post-launch operating costs. The budget should include the direct costs to make your product and the overhead costs to run the business. It also should show a break-even point and the profit potential. Create a first-year budget and a three-year budget. It often takes more than one year for a business to become profitable and pay back its initial startup costs.

    Create a marketing plan that provides details on the following: your product, pricing strategy, distribution strategy, advertising strategy, public relations, promotions and social media. Don’t work on your marketing communications until you’ve determined your unique selling benefit, target customer, distribution channels and your brand or image in the marketplace.

    Secure Capital

    Get your personal credit in the best shape possible. Start by visiting AnnualCreditReport.com to get free copies of your three personal credit reports. If you apply for a business loan or credit card, lenders will evaluate your personal credit. Follow the steps required by Experian, Equifax or TransUnion, outlined on their websites, to challenge any incorrect information on your credit reports.

    Review the budget you created to determine how much money you need to launch and operate your business until you are profitable. Calculate how much personal money and credit you have available and how much money you’ll need to raise from other sources. Decide how much of your company you are willing to give up in exchange for money from an investor. Contact your local bank to find out how to apply for a small-business loan or credit card.

    Make your pitch to partners, friends and family or silent investors if you are seeking that type of money. Use your business plan to demonstrate that you have done your homework, have objective data that shows your concept is likely to work, and can project your income and expenses with hard numbers. Bankers and investors will often want to see your business plan and budget, according to Inc. magazine.

    Meet with an attorney before you sign any legally binding documents to ensure you make no mistakes that can damage your company or you personally.





    Business Loan – Business loan calculator, Ulster Bank, business loan calculator.#Business #loan

    Business Loan – Business loan calculator | Ulster Bank

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    Business loan calculator

    Help and Support

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    You are here: Republic of Ireland

    Business loan calculator

    Business loan calculator

    Business loan

    Our online application gives access to finance in 3 simple steps

    Applicants must be over 18 years of age and resident in the Republic of Ireland. Lending is for business purposes only

    Variable rate borrowers:

    WARNING: THE COST OF YOUR REPAYMENTS MAY INCREASE

    Structured repayments to suit your business needs

    Flexibility to reduce your borrowing at any time during the term of the loan

    Interest rate is variable and linked to Cost of Funds*

    What we will need from you?

    Financial information from your annual accounts or projections

    All loans are subject to an arrangement fee of 1% of the loan limit paid at the time the loan is drawn down.

    The above calculations are for illustrative purposes only not a finalised quote.

    Lending is for business purposes only.

    APR stands for Annual Percentage Rate

    • Apply online in just 20 minutes – don’t forget to have your annual accounts or projections to hand!
    • Provide an email address on your application and get updates every step of the way
    • We’ll aim to give you a decision within 5 working days
    • If we need additional information we won’t waste your time – we will let you know within 1 working day from receiving your application

    Important Information

    Credit facilities are subject to status and conditions. Security may be required. Applicants must be over 18 years of age. Formalities include the use of Credit Reference Agencies who will note that an enquiry has been made about you. If you borrow and do not repay in full, within the agreed terms, Credit Reference Agencies may be advised and will note the outstanding debt. This may affect any future applications for credit facilities through the Ulster Bank Group of Companies or other lenders.

    Whether you are starting out, expanding or diversifying, we are keen to talk to you to see how Ulster Bank and the SBCI can help you move forward.





    Unsecured Business Loans – $5, 000 to $300, 000 Apply Now, unsecured

    Unsecured Business Loans

    From $5,000 to $300,000. For a no charge pre-approval.

    Unsecured business loan

    Unsecured Small Business Loans Made Simple.

    At Unsecured Finance Australia we do everything in our power to make the process of securing an unsecured business loan simple. We want nothing more than to see our clients succeed and are proud to provide small business owners with the funds they need to make their dreams a reality.

    Unsecured business loan

    Flexible

    A term loan with a redraw option.

    • Facility term 3 12 months
    • Any business purpose
    • Top-up & early payout options

    Trade

    Line of credit for import + export

    • Facility term 12-months revolving
    • For import, export or domestic
    • Line of credit with no line fees

    Equipment

    Equipment or vehicle finance

    • Facility term up to 60-months
    • Balloon option
    • Range of equipment financed

    Unsecured business loan

    The online application process is quick and easy, and should only take about 5 minutes to complete. Receive approval and funds the same business day.

    Loans from $5,000 to $300,000

    settled same day

    Minimal docs required

    we only need the basics

    Loan terms 3 to 12-Months

    up to 60 for equipment

    High approval rates

    Fast 24-Hour Loan Approval

    5-Minute online application

    get started now

    Apply now

    Simple 5 minute online application.

    We Support many diverse industries across Australia with unsecured business loans. Want more information?

    Unsecured business loan

    Wine Bar

    Requirement: Customer needed funds to purchase the remaining half of their business from operating partner.

    Our team quickly supplied an unsecured business loan and structured repayments to compliment the business.

    Restaurant

    Requirement: The restaurant relocated and required funds to fit out the new site.

    Our teams fast turnaround gave the client access to funds from an unsecured business loan within 48 hours which enabled the owner to start fit out immediately.

    Electrician

    Requirement: Business needed funds to fit out new electrical van.

    Unsecured Finance Australia’s fast turnaround gave client access to funds from an unsecured business loan within 48 hours to get their new van fitted out fast.

    Unsecured business loans

    From $5,000 to $300,000

    At Unsecured Finance Australia we understand growing your business is important, so our team works hard to get your funds to you as soon as possible.

    We offer loans ranging between three and twelve months. On average, most of our customers repay their loans between six and nine months, however, many also like to keep their payments low and spread out their payments over the full twelve month period.

    For those wishing to pay off their loans early, often a discount is offered.

    The online application process is quick and easy, and should only take about 10 minutes to complete. Or if you prefer, fill out the quick quote form on this page and get started in under a minute.

    Our team works hard to ensure all business loans are approved in 5 working days or less. However, most of our loans are approved within 24 hours.

    Unsecured Finance Australia offer short term unsecured business loans from $5,000 to $300,000. Just like a secured loan, the maximum amount you can borrow is determined by the amount of revenue and cashflow coming through your business.

    At Unsecured Finance Australia we like to keep things simple. Unlike the big banks who require huge amounts of information about your business, we just require the basics.

    We need to identify who you are, and often, a drivers licence is all we need to do this.

    Loans $5,000 to $50,000 we require the last three months of your businesses banks statements.

    Loans $50,000 to $250,000 we will need a little more information:

    • The last 6 months of banks statements for your business.
    • The most recent financials showing incomings and outgoings.

    To quality for an Unsecured Finance Business Loan you will need to have the following:

    • A business with 12 months trading history.
    • Turnover in excess of $5,000 per month
    • Regular cash flow (daily, weekly or monthly)

    At Unsecured Finance Australia we understand that every business is different and therefore the same loan or rate will not suit every business. As such, the interest rates on our loans change depending on the health of your business and its cashflow. Once you have submitted your application and we have assessed your application, we will then be able to provide you with a summary of how much you can borrow, the interest rate on your loan and a break down of any fees or charges.





    Sba Loan – Payday Loans Online, sba loan rates.#Sba #loan #rates

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    Small Business Administration (SBA) Loans, TD Bank, sba loan requirements.#Sba #loan #requirements

    Small Business Administration (SBA) Loan Programs

    Sba loan requirements

    Talk to an expert now

    Sba loan requirements

    Sba loan requirements

    Sba loan requirements

    A simple and hassle-free SBA loan experience

    Are you ready to start or expand your business? Small Business Administration loans typically offer lower equity requirements and longer terms than conventional loans.

    Our SBA Business Development Officers have broad and diverse industry experience building relationships with small businesses. As a Preferred SBA Lender, we’re able to guide you through the process with faster decision times and loan approvals.

    Find the right loan for your business

    Terms

    SBA 7(a)

    SBA 504

    Conventional

    • Real estate purchase, refinance
    • Expansion
    • Acquisition
    • Partner buy-out
    • Equipment purchase
    • Franchise financing
    • Real estate purchase
    • Construction
    • Equipment purchase
    • Refinancing
    • 1 st mortgage – no maximum loan amount
    • 2 nd mortgage – maximum of $5MM-$5.5MM depending on industry
    • 90% lender
    • 10% borrower
    • 90% lender(50% TD Bank,

    • 75% lender
    • 25% borrower
    • Based on project size
    • Can be financed
    • Based on project size
    • Can be financed

    (typically less than conventional)

    SBAExpress Loan

    Receive a quick response to your SBA loan application, usually within 48 hours. Loan proceeds can be used for equipment purchases, expansion, owner-occupied real estate purchases, working capital and more.

    Loan amounts up to $350,000

    Terms up to 25 years, fully amortizing

    Advance rate:

    • Up to 100% on machinery and equipment
    • Up to 85% on business acquisitions
    Why an SBAExpress loan?
    • Fixed and variable interest rates available
    • Longer terms to maximize cash flow
    • Accelerated turnaround times for a faster closing
    • Flexible use of proceeds to help maximize business performance
    • Expert relationship managers walk you through the SBAExpress loan application process step-by-step to ensure your experience is hassle-free

    USDA Loan

    USDA loan proceeds develop and finance businesses in rural communities.

    They are designed to improve the economic and environmental climate through: Real estate purchases, refinance and construction; business expansion and acquisition; equipment purchase; partner buyout; and franchise financing in rural communities. 2

    Loan amounts up to $10,000,000

    Terms up to 30 years, fully amortizing

    Advance rate:

    • Collateral must have documented value sufficient to protect the interest of the lender and agency
    Why a USDA loan?
    • Fixed and variable interest rates available
    • Longer terms to maximize cash flow
    • Designed to help rural communities grow and add jobs
    • Encourages the development and construction of renewable energy projects such as solar and wind power
    • Expert relationship managers walk you through the USDA loan application process to ensure your experience is hassle-free

    Frequently Asked Questions

    Sba loan requirements

    What is an SBA loan?

    An SBA loan is backed by the Small Business Administration – a government entity dedicated to the growth of small businesses.

    TD Bank processes your application and lends you money. The Small Business Administration guarantees part of the loan, but the SBA doesn’t actually lend any funds. It’s this guarantee that allows SBA loans to offer flexible solutions – and why it’s such a good choice for small businesses.

    Sba loan requirements

    Why an SBA loan?

    SBA loans typically offer flexible terms and conditions versus conventional counterparts. Which means lower monthly payments and more opportunities to keep capital in your business.

    Sba loan requirements

    Who should apply for an SBA loan?

    Any small business owner can apply and take advantage of SBA loan terms. If you have excellent credit, cash flow and equity in your business, all the better. If you may not qualify for a traditional commercial loan, an SBA loan may be your best bet for financing.

    The U.S. SBA also offers education and support to small businesses, which is an excellent resource as you grow.

    Sba loan requirements

    Do SBA loans take a long time to fund?

    As a U.S. SBA preferred lender, TD Bank has a lending group especially dedicated to SBA customers. Our experienced Business Development Officers, Credit Underwriting and Closing Groups help keep the approval and closing process running smoothly as well as provide funds quickly and efficiently.

    Sba loan requirements

    How can I learn more about SBA loans?

    TD Bank is a preferred lender for SBA loans, which means faster decision time and quicker access to loan funds.* Meet with one of our Business Development Officers and they will walk you through the process step-by-step.

    Or you can find more information on the SBA website. *





    Small Business Loans, TD Canada Trust, business loan interest rates.#Business #loan #interest

    Small Business Loan

    7:00 a.m. – 12:00 a.m. EST

    Ways To Apply

    Or, to begin an application, call our Small Business Advice Centre at 1-866-222-3456

    7:00 a.m. – 12:00 a.m. EST, 7 days a week

    Small Business Loans

    Business loan interest rates

    Available Fixed or Floating Interest Rates for Small Business Loans

    Flexible Business Loan Payment Options

    A Business Loan 1 can help you purchase or upgrade business assets, or help with your expansion plans. The choice is yours.

    Secured or unsecured options

    • Available as an unsecured loan 2 in amounts from $10,000 to $50,000
    • Also available as an asset secured loan in amounts from $10,000 to $1,250,000. Flexible security options 3 include:
      • Business real estate
      • Residential real estate (full or partial)
      • Liquid or margin security (full or partial)
      • Business assets

    Flexible payment options

    • Choice of 1 to 5 year fixed-rate terms
    • Amortization up to 20 years, based upon the useful life of the asset financed

    Fixed or floating interest rates available

    • Floating interest rate options based on TD Prime Rate with no prepayment penalties.
    • Fixed interest rate options available with the flexibility to make 10% principal prepayments annually without penalty.
    • No review fees.
    • Set-up fees may apply.

    Protection for your Business Loan

    Business Credit Life Insurance can help meet the financial obligations of your business should a person who is key to the success of your business die or suffer a covered accident. Get the coverage your business needs.

    Multi-unit property mortgages

    We can help you build a customized mortgage for multi-unit residential properties (5+ units).

    Expand Let’s continue the conversation

    Find an Account Manager, Small Business

    Talk to an Account Manager about

    your business needs.

    Visit us in person

    Talk to Us

    1 Subject to complying with TD Canada Trust lending policies and criteria including confirmation of good personal credit history. Certain business documentation is required. Other conditions may apply. Set-up fees may apply. Personal guarantee(s) may be required.

    Services
    Support
    Ways to Bank
    Contact Us
    • Contact an Account Manager, Small Business
    • Branch Locator
    • Contact a Regional Agriculture Specialist
    • Talk to Us: 1-866-222-3456

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    SBA Small Business Loans, Guidant Financial, sba loan.#Sba #loan

    SBA Small Business Loans

    Low-interest funding for new and existing businesses.

    Traditional Low-Interest Lending

    Small Business Administration (SBA) loans offer a practical method of small business financing for entrepreneurs looking to start, buy or expand a business. You can use the funds to purchase real estate, cover construction costs or to use as working capital.

    SBA small business loans offer attractive repayments terms and low interest rates. The loans are typically not directly from the SBA. Rather, the SBA encourages banks to lend to small business owners with preferable terms and multiple loan options. In return, the SBA guarantees 75 to 85 percent of the loan for the bank if the loan defaults.

    Guidant offers consulting services and packaging assistance for both SBA 7(a) loans and working capital loans.

    Sba loan

    Learn about SBA loans from the industry experts

    Sba loan

    Learn how the SBA Loan process works in our guide to business funding

    Find the best option for you

    Sba loan

    Use your retirement funds as a down payment on an SBA loan

    Learn how in this eBook

    Sba loan

    Short on time? Sign up to learn how to fund your business fast

    Join us for a live webinar

    What is an SBA 7(a) Loan?

    Small Business Funding You Can Depend On

    SBA small business loans offer up to $5 million in financing that can be used for almost any business purpose, including start-up, acquisition or expansion. Loan proceeds can be used as working capital, revolving funds, or to purchase real estate, equipment, inventory, etc.

    Preferred by lenders and small business owners alike, SBA loans promise low interest rates, longer repayment terms and no ballooning costs, making monthly payments manageable for small business or franchise owners. Additionally, SBA 7(a) loans can be combined with other forms of small business financing to help you reach your funding needs. In fact, you could even use money from your retirement account to cover the down payment for an SBA loan with 401(k) business funding.

    Criteria Summary for SBA 7(a) Loans

    Sba loan

    Funding Amount
    • $75,000 $5 million
    • Minimum $75,000

    Sba loan

    Eligibility
    • 20% down payment for an existing business
    • 30% down payment for a start-up business
    • 640+ credit score
    • Personal collateral required
    • Industry experience preferred
    • Secondary income preferred

    Sba loan

    Benefits
    • Low interest rates
    • Longer repayment terms
    • No ballooning costs
    • Can be combined with other forms of financing

    Sba loan

    Time to Fund
    • 2 – 4 Months
    • Must have business to fund

    What is an SBA Working Capital Loan?

    Expand Your Growing Business

    Working Capital loans offer a simple small business financing solution for entrepreneurs needing $50,000 – $150,000 for business operations. These loans provide the same government guarantee and low interest rates as traditional SBA loans, but they can close in as little as 45 days — about half the time it takes to close a traditional SBA loan.

    Unlike other business loans that a require 20 – 30 percent down payments and must be secured by personal collateral, Working Capital loans only need 10 percent down and are secured by your business assets. Plus, Working Capital loans can be used in conjunction with Rollovers for Business Start-ups, so you can leverage your retirement funds to cover the down payment for the loan.

    Criteria Summary for SBA Working Capital Loans

    Sba loan

    Funding Amount
    • $50,000-$150,000
    • Minimum $50,000

    Sba loan

    Eligibility
    • 10% down payment
    • 690+ credit score
    • Paid franchise fee prior to funding (if applicable)
    • Business must be able to begin operations prior to funding
    • No recent bankruptcies

    Sba loan

    Benefits
    • Low interest rates
    • Quick time to fund

    Sba loan

    Time to Fund
    • 30 60 days
    • Must have business to fund

    Why work with Guidant for your SBA business loan?

    Sba loan

    Your Shortcut to Success

    Guidant Financial makes it easy for qualified borrowers to obtain an SBA loan. Our streamlined process gives you immediate access to thousands of lenders with a single loan application. With our comprehensive loan package analysis, we ensure you’re matched with the lenders who provide the best loan rates and the greatest chances of approval. Guidant clients have a 96 percent funding success rate once a loan offer is secured from a lender.

    Not only will we help you find the lender that’s right for you, but we ll provide overall guidance through the SBA process and in-depth document review to ensure you have everything in line for approval.

    Sba loan

    Simplified Loan Application

    Loan applications are extremely detailed and take a lot of work to put together. If you’re shopping lenders independently, each bank will require a separate application. But by working with Guidant, you’ll only need one loan application, which we’ll send to our large network of lenders to help you find the perfect fit.

    Sba loan

    Better Terms

    When banks compete, you win. Because Guidant can apply to several lenders with a single application, we’re often able to present you with multiple loan offers, meaning you’ll have more flexibility when choosing your terms and conditions.

    Use Your Retirement Funds as a Down Payment on an SBA Loan

    ROBS + SBA: Keep Your Rainy Day Savings Intact

    One of the most beneficial ways to combine financing methods is to use 401(k) business financing with an SBA loan. This allows you to leverage your retirement funds for the loan down payment without triggering any tax penalties.

    While both SBA loans and 401(k) business financing have advantages as stand-alone programs, together they can increase your business budget, help protect your savings and lower your monthly payments.

    Sba loan





    SBA Loan Rates – Current Interest Rates and How They Work, business

    Business loan rate

    Business loan rate

    SBA Loan Rates Current Interest Rates and How They Work

    There are three primary types of SBA loans: SBA 7A Loans, SBA Express Loans, and CDC/504 Loans. SBA 7A loans and SBA Express loans can be used for a wide variety of purposes, including growth capital and refinancing. CDC/504 loans, on the other hand, are specifically for the purchase of fixed assets like real estate and heavy machinery.

    November 2017 Maximum interest rates on SBA 7A Loans range from 6.5 % to 9 %. Full Table

    November 2017 Maximum interest rates for the CDC portion of CDC/504 Loans currently range from 4.08% to 4.43% including fees. Full Table

    Before reading further, make sure you are qualified. Though there are exceptions, and startups are sometimes eligible, there are five general requirements for getting an SBA loan:

    • In business at least 2 years
    • Personal credit score is 680+ (check your score for free here)
    • Seeking at least $30,000
    • At least $50,000 in revenues for the past 12 months
    • Business is profitable

    Sound like you? We recommend applying with SmartBiz. They are the best company we have found at providing quick turnarounds on SBA loan approvals, and you can find out how much you qualify for in 5 minutes.

    Current SBA (7A) Loan Interest Rates and Explanation

    The Small Business Administration (SBA) sets the maximum interest rates that banks can charge on 7A loans. The current maximum interest rate ranges from 6.5% 9%, depending on the size of the loan and the amount being borrowed.

    The maximum interest rates on SBA 7A loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

    Maximum Interest Rates on SBA 7A Loans for November 2017

    Detailed SBA 7(a) Interest Rate Explanation* Please note SBA 7A Express loans carry a higher interest rate for similar size amounts and terms than the standard 7A loans above. We recommend avoiding SBA Express loans as firms like SmartBiz can provide approval for the standard 7A with similar turnaround times.

    As the table above shows, the maximum interest rate on SBA 7(a) loans is based on three factors:

    1. A base rate (one of the following publicly available interest rate measures): Prime Rate, LIBOR (one month) + 3.0%, or SBA Peg Rate
    2. The term of the loan: Less than 7 years or greater than 7 years. For example, 3 and 5 year loans would all fall into the same category of under 7 years.
    3. The size of the loan: Under $25,000, $25,000 to $49,999, and over $50,000. For example, loans of $30,000 and $45,000 will fall under the same category.

    As the table shows, loans longer than 7 years have a maximum interest rate which is half a percent higher than similar size loans that are for terms that are less than 7 years.

    Loans for more than $50,000 have 1% lower maximum interest rates than loans between $25,000 and $49,999 when taken for similar terms. Similarly, loans for $25,000 to $49,999 have 1% lower maximum interest rates than loans for less than $25,000.

    Fixed vs. Variable SBA Interest Rates

    7A loans can have a fixed or variable interest rate. With a fixed rate loan, the loan interest rate remains constant throughout the life of the loan. With a variable rate loan, the loan’s interest rate can change (often referred to as a reset) at regular intervals, such as quarterly or monthly.

    With variable rate SBA 7A loans, the rate is reset based on one of three publicly available market interest rate numbers, plus a fixed percentage. The interest rate must always be at or below the maximum interest rate set by the SBA. For smaller size SBA loans (for example those under $500,000), banks tend to offer only variable rate loans, with interest rates at or close to the maximum allowable by the SBA.

    The Base Rate And Interest Rate Resets

    Banks can choose one of three market interest rate measures as their base rate. These are the prime rate, LIBOR + 3.0%, or the SBA peg rate. While there are small differences between these rates, they tend to track each other very closely. The Prime Rate is the one that s most commonly used.

    Rates as of November 1, 2017:

    • Prime Rate: 4.25% (source: WSJ)
    • LIBOR (one month) + 3.0%: 4.24% (source: Bankrate)
    • SBA PEG Rate: 2.625% (source: National Association of Government Guaranteed Lenders)

    These rates can go up or down based on market conditions. Currently, they are at decade low levels. Over the last 10 years, the Prime Rate has been as high as 8.3%.

    With a variable rate SBA 7A Loan, as market interest rates rise so will the rate on the loan. Let’s take the example of a 10-year loan for $50,000 with interest rates rising by 2%.

    The maximum interest rate on the loan currently would be 7.75%, with a monthly payment of $600 per month. With a 2% rise in interest rates upon the interest rate reset, the rate would be 9.75%, with a monthly payment of $654 (this would be the monthly increase for a newly issued loan. If the loan was older, the increase in monthly payment would be lower).

    Interest Rates Are Not The Only Costs To Borrowing Money: APR/APY

    When taking a loan, there is often an origination fee. This fee supposedly covers the costs of the bank or financial institution of making the loan, including marketing costs. However, the origination fee is not directly based on costs and is arbitrarily set by the financial institution. An origination fee of 4% is not unusual. The fee is typically taken “off the top”. For example, a borrower taking a $50,000 SBA loan with a 4% origination fee would only receive $48,000.

    SBA 7(a) loans also have a guarantee fee. Initially, the lender pays this fee to the SBA, but it s almost always passed on to the borrower at closing. Currently, the SBA has waived fees for loans under $150,000. Above that, the fee typically ranges from 3 % to 3.5 % of the guaranteed portion of the loan. The exact percentage depends on the size of the loan and the length of the loan. For example, if a borrower takes a $250,000 10-year 7a loan, the SBA may guarantee 75 % of that, or $187,500. 3 percent of that amount, or $5,625, is the guarantee fee that will be charged to the borrower. For more info, click here.

    The true cost of borrowing money (interest rate + fees) is often called the APY (Annual Percentage Yield) or APR (Annual Percentage Rate). On a ten year SBA loan, the effect of fees can create an APR or APY that is around 1% higher than the loan’s interest rate. The shorter the loan the bigger the impact that fees will have on the APY/APR.

    What size SBA loan could you qualify for? Apply with SmartBiz and get an estimate in minutes.

    November 2017 SBA Loan Rates On Real CDC / 504 Loans

    The Small Business Administration (SBA) sets the maximum interest that banks can charge on CDC/504 loans. The current maximum interest rate ranges from 3.83% to 4.56%, depending on the size of the loan and the amount being borrowed.

    The maximum interest rates on CDC/504 loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

    While a 7A SBA Loan can be used to purchase real estate, a Real CDC / 504 Loan will tend to provide borrowers with tremendous interest rate savings. A CDC / 504 loan is composed of two loans:

    1. A loan from a financial institution (bank) for typically 50% of the price of the property, equipment, and building upgrades.
    2. A loan from a Certified Development Company (a non-profit) for 40% of the price.

    The remaining 10 % is a down payment from the borrower. The interest rates on the bank portion of the loan are not set by the SBA. However, the interest rates on these loans tend to be very low, currently in the mid-single digits. Because the bank loan is senior to the CDC loan and the loan is backed by real-estate, there is a low risk that the bank will not be able to get back the money it loans. The low-risk is reflected in the low-interest rates.

    The maximum interest rate on the CDC portion of the loan is set by the SBA.

    If you re in the market for commercial real estate and will occupy at least 51% of the space, you may be a good candidate for an SBA 504 loan. We recommend working with Liberty SBF for SBA 504 loans. If you have credit score is above 680 (check here for free), you ve been in business 4+ years, are profitable, and need more than $1,000,000, speak with Liberty SBF today.

    If you need a commercial real estate loan of $500,000 $5,000,000, another option is a 7(a) loan with a 25-year repayment term. If you have a credit score above 680 (check here for free), you ve been in business 3+ years, are profitable, and will occupy at least 51% of the space, get prequalified in minutes with SmartBiz.





    Small-Business Loans – 3 ways to get a loan, loan business.#Loan #business

    3 ways to get a small-business loan

    The recovering economic environment has meant that small businesses have had to be more creative when looking for loans.

    However, companies with sound business strategies still can borrow. Options include loans from traditional banks and institutions affiliated with the Small Business Administration, as well as financing from Internet-based lenders.

    “For creditworthy, high-scoring small businesses, there is money available,” says George Cloutier, CEO of American Management Services, a consultant to small businesses.

    Bank loans

    The best place to get a small-business loan is still a bank, says Cloutier. Banks typically offer the lowest interest rates and many have established reputations as trustworthy lenders.

    “Many small businesses try three or four banks and then stop looking,” Cloutier says. A more persistent approach has better odds of success.

    Calculate business loan payment

    Want to calculate your small-business loan payment? Go to Bankrate’s loan and amortization calculator.

    “Take out the phone book, target 10 banks and work through that list,” he says.

    That strategy worked for Michael McKean. He is founder of The Knowland Group, a company that helps hotels fill up their meeting space.

    A few years ago, as the success of The Knowland Group grew, McKean began searching for a bank that would give the growing company expanded access to credit.

    “We talked to every bank in our area, at least a dozen,” McKean says. “Many came back with proposals, but the terms were very onerous. Or sometimes they shifted terms.”

    Finally, M T Bank came through.

    “They just wanted to get our business,” McKean says.

    McKean says his company did not approach M T any differently than it had approached the other banks. It was just a matter of being persistent until the right deal came along, he says.

    “We did everything right, approaching the right person at each bank,” he says. “We’re a profitable business. I think it was just the … credit crunch that prevented us from getting a loan.”

    Cloutier says the key to success with banks is to show past profitability, and to describe a well thought-out plan for future profits.

    “If you aren’t making a profit now, you must be able to tell the bank how you will change that in the short term, or you really won’t be able to get a loan,” he says.

    He also recommends that businesses start small in their loan requests.

    “If you need money for four trucks, ask for two,” Cloutier says. “The bigger the loan request, the harder it is to get it approved.”

    SBA loans

    Another way to find a bank loan is through the Small Business Administration, or SBA. The SBA can direct you to banks that offer loans guaranteed by the agency. This way, you’ll have the advantage of approaching banks specifically interested in lending to small businesses.

    Interested businesses should contact the SBA office nearest to them, which can be found on the agency’s website. Jeanne Hulit, the SBA’s acting administrator, urges businesses to seek a bank that is an experienced SBA lender.

    Banks granting SBA loans place increased emphasis on business plans, cash flow and profit forecasts in deciding whether to lend, she says. The SBA also can refer businesses to free counseling centers to improve their performance.

    Online opportunities

    Another source for loans is the Internet. There are several sites where businesses can seek alternative lenders, such as individuals and small companies.

    Interest rates are generally a little higher than what a bank will charge, but it’s much less than what you’ll have to pay on many credit cards.

    Look around at different sites, some may charge a one-time fee to list your business, while others are free to list but might have fees reflected in loan rates.

    If you’re going to list your company on one of these sites, describe your business in clear and concise language.

    Lastly, make sure to investigate the company you are looking to post your business on. These kinds of companies were successful in 2008 and during the recession, but times have changed. Many have since gone out of business. Before paying for anything, make sure the company is legit.





    How to Get a Business Loan, getting a business loan.#Getting #a #business

    How to Get a Business Loan

    Getting a business loan

    Getting a business loan

    Sooner or later most small businesses need to know how to get a business loan, whether to get the operating capital for business startup or to finance an expansion. But whether you re approaching a bank or a friend for a business loan the lender will have the same expectations.

    You can greatly increase your chances of successfully securing a loan by being prepared to meet those expectations.

    Put yourself on the other side of the desk for a moment.

    If someone asked you for a small business loan, you d want to know exactly why he or she wanted the money and what the chances were that he or she would repay the loan in full and on time.

    The key to getting a loan is preparation. First, gather together the documents that will help persuade the lender that a business loan is necessary and that you are a good risk.

    Documents Needed

    • A business plan – The business plan shows the lender not only why you want a small business loan but what you plan to do with the money. Don t have one yet? Here s a simple business plan template you can use.
    • Cash flow projections – What s the first question any lender has? Will you be able to repay the loan? Your business s cash flow projections give lenders concrete financial data that they can use to assess this risk.
    • A statement of your personal financial status – A list of your personal assets and debts to give the lender a fuller financial picture.

    You may also need these documents:

    • Past business tax returns – If your business is established and you have past business tax returns, it s a good idea to take them with you. They ll give the lender a better idea of how your business is doing financially.
    • A credit rating report – Basically, you establish a credit rating by buying things on credit and paying back the money you owe. Your loan repayment history plays a big part in establishing your credit rating, but all your credit dealings make up the history that s used to determine your credit rating.

    It s not necessary that you include a credit report with your small business loan application; it s easy enough for potential lenders to check your credit rating. But if you don t know what your credit rating is or suspect your credit rating is tarnished, you may want to get one.

    In the U.S., you can get a free credit report once a year through the website AnnualCreditReport.com. For more information, see How to Get a Free Credit Report.

    In Canada, you can get a free credit report by contacting one of the two credit reporting agencies, TransUnion or EquiFax Canada. To receive your free credit report you will need to mail or fax one of these companies a request along with copies of two pieces of I.D. Note that you will not be able to get a free credit report through the website of either company; you will be charged a fee for an online report. CreditKarma provides free online credit reports through much of Canada.

    The credit report you receive will include information on what to do if you find errors in the report. If you have a poor credit rating, you will want to take steps to repair your credit rating before trying to get a business loan.

    Making the Presentation to the Lender

    The next step in how to get a business loan is to persuade the lender that your business is viable and you are a good credit risk.

    You need to prepare in advance to make a winning loan presentation.

    Start by considering the lender s point of view. You want money. But he or she is most interested in the answers to these two questions: What are you going to do with the money? and Are you a good risk? , and to make a successful business loan presentation, you need to come up with the right answers to these two questions.

    Answering the first question means being fully conversant with all the details of your business plan and being able to point to the relevant financial statements, charts or graphs that will help convince the lender that you need the amount of money you re asking for to do what you want to do.

    Answering the second question means having already given some thought to the credit risk you represent to the lender and being ready to address their concerns.

    To get a small business loan, be prepared to tell your potential lender:

    • What collateral you have – Collateral refers to the tangible assets that you are willing to put up to secure the loan. These assets might be equipment, a house, a car – something of value that you own. If you fail to repay the loan, then the proceeds from the sale of the assets are used for repayment.
    • How much money you re personally willing to put into the business – Being willing to risk your own money shows the lender that you re committed to the enterprise.
    • Your expertise and/or experience in your chosen field – Because the success of your business is dependent on this to some degree, any potential lender will want to know more about you. Be prepared to talk about yourself when you apply for a small business loan – your background, your expertise, and even your aspirations.

    How to Get a Business Loan? Be Prepared

    Your chances of getting a business loan will be greatly improved if you have all your documents in order and are prepared to assuage the lender s concerns about loaning you the money. Think of it as a presentation to an important client or customer, and you ll have a better chance of success.

    Read more about getting a business loan:





    Learn How to Get a Business Loan from Banks and Others, getting

    Learn How to Get a Business Loan

    Getting a business loan

    Getting a business loan

    Personal loans are widely available, but if you’re trying to borrow for a small business, you’ll find that the process is more difficult. If you’re thinking of borrowing to start or grow your business, get started and get organized long before you fill out an application. Lenders want to be sure that they’ll get repaid, which means they’re looking for several criteria:

    • The loan makes good business sense
    • You personally (or your business) have a strong credit history
    • The people managing the business are qualified to put the money to good use
    • The bank is able to manage their own risk

    Good Business Sense

    Lenders only want to make a loan that helps you grow your business. You might be confident that the money will help, but you need to convince them of that fact. To do so, create an airtight case that proves (without exaggerating) how the funds will lead to greater profits – and revenue you can use to repay the loan.

    Your business plan is essential to get approved for a loan. If you don’t have one yet, it’s time to create one. You need to show, with specific numbers, how you’ll earn money, how you’ll spend it, and your big-picture strategy. Explain who all of the players are in your business, especially management, marketing, and sales roles – those individuals will bring in new business that helps pay for the loan.

    It’s okay if you do all of those jobs – just explain why that is and your track record of success in those areas. Your business plan should also include basic financial statements, pro-forma statements, and information about your personal resources.

    Building the Foundation

    Here’s the frustrating fact about most small business loans: your personal finances are important.

    Banks want to see a history of successful borrowing anytime they make a loan. That includes loans for your business. Unfortunately, many businesses don’t have any history of borrowing (especially new businesses), so lenders look at your personal credit scores instead. If you’ve got good credit, that’s a good sign that you’ll handle the business loans well. If you’ve got bad credit, lenders will be more skittish about lending. If your credit is “thin” because you haven’t borrowed much in the past (or if it’s in need of some repair), you may need to build your credit before lenders are likely to approve you for a loan.

    You’re applying for a business loan, and you may even be organized as a corporation or LLC. However, lenders will almost always want to hold you personally responsible for the loan. If they don’t do that and the business fails, there’s nobody left to repay them. But if you make a personal guarantee on the loan (which is likely a requirement), they can go after you personally, and your personal credit will suffer if you don’t repay.

    If you a have collateral to pledge for the loan, you’re more likely to get approved. With some businesses, you might be able to pledge business assets like vehicles and equipment (if your business has those types of assets).

    It’s more likely that you’ll have to pledge personal property such as your home or your financial accounts.

    Where to Borrow

    Once you’re organized and you know what to expect, it’s time to start talking with lenders. You have several options for borrowing, and each option comes with pros and cons. For best results, talk with lenders to understand their requirements and how they work – don’t just fill out an application and hope for a “yes.”

    Banks and credit unions are traditional sources for small business loans, and they’re a good place to start. Especially with small institutions, you’ll be able to meet with a lender who can guide you through the process. Larger banks might take a more hands-off approach. To improve your chances of getting approved, ask about SBA loans, which reduce the bank’s risk and feature interest rate caps.

    The loan process at banks and credit unions can be slow, so be prepared for a long process with a thorough review from the bank.

    Online business lenders are a relatively new option, and they might provide more choice than you can find locally. You might also find it easier to get approved – these lenders are more interested in funding loans and growing than conservative banks and credit unions. Online lenders might also move faster than traditional lenders. That said, they’re not looking to lose money, so the loan still needs to make sense.

    Microlenders might be willing to help if you meet certain criteria. Especially if you’re investing in communities that microlenders are interested in or you have a low income, these lenders might approve loans that banks will not.

    Online personal loans are an option when nobody will approve you for a business loan. Ideally, you’ll borrow in the name of your business – it’s cleaner and more professional that way. But some small business owners can only get personal loans. Try marketplace lenders and peer to peer lenders, which tend to offer competitive rates and quick turnaround on applications.





    How to get a business loan, options & requirements, Business Victoria, get

    Apply for a business loan

    Not what you’re looking for?

    • Choosing a loan you need
    • Improve your loan approval chances
    • Risk assessment

    When applying for a business loan, it’s essential to prepare a detailed business plan and fully inform the lender about your proposed venture. This information helps the lender to provide you with the right type of finance and advice.

    Deciding that your business needs a loan is only the first step. There are a number of things to consider before you approach a lender:

    • how much do you need to borrow?
    • what type of loan will you need?
    • how long will you need it for?
    • can the business afford to repay the loan, interest and any one-off or ongoing fees that come with the loan
    • what security can you offer the lender and how this affects the interest rate offered.

    Online repayment calculators are a good tool in researching options but make sure you take the following into account:

    Access to funds you borrow

    If you need to access the funds on a semi regular basis to help with cash flow to keep the business operating while waiting for your customers to pay for goods, ‘at call’ loans such as an overdraft or line of credit are designed for this purpose. However, if you need the funds to buy a new business or equipment to expand your existing business you will need the funds ‘upfront’. This is also known as a ‘fully drawn advance’ and provides you with the entire loan amount all at once.

    Loan terms

    Loans provided upfront will need a portion of the loan plus interest paid back at regular intervals. The repayment amount will depend on the term or length of the loan. To determine the loan term suitable for your business you will need to calculate how much you can afford to service the loan. Be aware that the longer the loan term the more total interest you will pay. Loans that are at call have no fixed terms.

    Ongoing funding

    This is the average amount of an overdraft or line of credit that is used at any one time. For example, you may wish to have an overdraft limit of $20,000 to provide money for the occasional big expense, but usually you won’t use more than $5000 of that credit limit on average. So in this case $5,000 is the level of ongoing funding you need.

    When applying for an overdraft limit, things to watch out for are:

    • higher the overdraft amount higher the fees
    • clauses where the lender can demand repayment of the whole loan at any time.

    Fixed or variable interest rate

    The choice of rate will affect the stability of repayments, overall cost of the loan and the loan features available. With a fixed rate loan the lender bears the risk of interest rate moves, while with a variable rate you will bear this risk. Ultimately, the choice of variable or fixed rates will depend upon how much free cash flow your business generates after you have paid all your expenses, including loan repayments. If your business has a low profit level, a variable rate loan repayment may rise beyond your ability to pay.

    Loan security

    Loans can be secured or unsecured by various types of assets, including residential, commercial, rural property or business assets. Alternatively, some loans are unsecured by any asset. Generally the less you provide for security the higher the interest rate will be. Be aware the lender has the legal right to seize any property or asset you offer as security if you can’t repay a loan on time.

    There can be fees which can make a loan less attractive than it first seems. These include one-off fees such as establishment/application fees, exit/discharge fees and early termination fees or regular fees such as service fees or line/credit advance fees. The Business Loan Finder tool includes the cost of set-up and ongoing fees in the average monthly repayment to give you a better idea of the true cost of the loan.

    Seek advice

    The information provided here will provide you with a range of possible finance options. It is important to seek advice from your accountant or business advisers before approaching a lender for a loan.

    Tip: Use our below Cashflow forecasting template to plan your cash flow and work out how much you need to lend.

    Plan the business, plan the finance

    Lenders will ask for a lot of in-depth information about the financial history of the business. It’s also important for you to create a convincing and detailed business plan which should include a profit and loss budget and cash flow forecast. The information you use to build your business plan may also be needed by the lender to assess your project. This includes both the past and future plans for your business, the people working in it and the market itself.

    The outcome of your application is strongly influenced by how well your proposal is researched and how well it is presented.

    Risk assessment

    Banks and other lenders will look at your business’s risk profile when considering your loan application. Understanding what lenders look for and what they consider risky will help you present your business in a favourable manner.

    As a general rule, lenders look for:

    • the level and nature of your security (what you’re offering to give them if you can’t repay the loan)
    • your ability to make regular loan repayments (cash flow risk)
    • your ability to ultimately repay the debt (business risk), including any other debts you might already have.

    You need to be able to assess the level of cash flow or business risk in your specific circumstances. A projection of the cash requirements of the business is most important to a lender, as it is the actual cash left after expenses that will repay the loan, not income. It also shows you are an effective manager.

    A lender’s perception of risk

    The following factors can influence your lender’s perception of risk. If a number of these areas apply to you and your business you may need to consider another source of finance.

    • start up businesses incorporate financial, business and management risk
    • lack of security
    • lack of business history
    • industry sector, factors will include levels of competition, barriers to entry, profitability profile and current economic conditions
    • highly seasonal businesses, for example swimwear and agriculture. You’ll need to demonstrate how you’ll deal with cash flow pressures in the off season
    • lack of planning, market knowledge and finance skills
    • poor credit history.

    Watch out! Before entering into a payment arrangement with the Tax Office, businesses should discuss this with their current or future lenders. Many businesses are unaware that entering into a payment arrangement with the Tax Office or other government agencies may adversely affect their current and future financing arrangements. For instance, a lender may not lend to a business if it is currently in a payment arrangement.

    For more details visit the Guide to managing your tax debt on the ATO website.





    Small-Business Loans – 3 ways to get a loan, business finance loan.#Business

    3 ways to get a small-business loan

    The recovering economic environment has meant that small businesses have had to be more creative when looking for loans.

    However, companies with sound business strategies still can borrow. Options include loans from traditional banks and institutions affiliated with the Small Business Administration, as well as financing from Internet-based lenders.

    “For creditworthy, high-scoring small businesses, there is money available,” says George Cloutier, CEO of American Management Services, a consultant to small businesses.

    Bank loans

    The best place to get a small-business loan is still a bank, says Cloutier. Banks typically offer the lowest interest rates and many have established reputations as trustworthy lenders.

    “Many small businesses try three or four banks and then stop looking,” Cloutier says. A more persistent approach has better odds of success.

    Calculate business loan payment

    Want to calculate your small-business loan payment? Go to Bankrate’s loan and amortization calculator.

    “Take out the phone book, target 10 banks and work through that list,” he says.

    That strategy worked for Michael McKean. He is founder of The Knowland Group, a company that helps hotels fill up their meeting space.

    A few years ago, as the success of The Knowland Group grew, McKean began searching for a bank that would give the growing company expanded access to credit.

    “We talked to every bank in our area, at least a dozen,” McKean says. “Many came back with proposals, but the terms were very onerous. Or sometimes they shifted terms.”

    Finally, M T Bank came through.

    “They just wanted to get our business,” McKean says.

    McKean says his company did not approach M T any differently than it had approached the other banks. It was just a matter of being persistent until the right deal came along, he says.

    “We did everything right, approaching the right person at each bank,” he says. “We’re a profitable business. I think it was just the … credit crunch that prevented us from getting a loan.”

    Cloutier says the key to success with banks is to show past profitability, and to describe a well thought-out plan for future profits.

    “If you aren’t making a profit now, you must be able to tell the bank how you will change that in the short term, or you really won’t be able to get a loan,” he says.

    He also recommends that businesses start small in their loan requests.

    “If you need money for four trucks, ask for two,” Cloutier says. “The bigger the loan request, the harder it is to get it approved.”

    SBA loans

    Another way to find a bank loan is through the Small Business Administration, or SBA. The SBA can direct you to banks that offer loans guaranteed by the agency. This way, you’ll have the advantage of approaching banks specifically interested in lending to small businesses.

    Interested businesses should contact the SBA office nearest to them, which can be found on the agency’s website. Jeanne Hulit, the SBA’s acting administrator, urges businesses to seek a bank that is an experienced SBA lender.

    Banks granting SBA loans place increased emphasis on business plans, cash flow and profit forecasts in deciding whether to lend, she says. The SBA also can refer businesses to free counseling centers to improve their performance.

    Online opportunities

    Another source for loans is the Internet. There are several sites where businesses can seek alternative lenders, such as individuals and small companies.

    Interest rates are generally a little higher than what a bank will charge, but it’s much less than what you’ll have to pay on many credit cards.

    Look around at different sites, some may charge a one-time fee to list your business, while others are free to list but might have fees reflected in loan rates.

    If you’re going to list your company on one of these sites, describe your business in clear and concise language.

    Lastly, make sure to investigate the company you are looking to post your business on. These kinds of companies were successful in 2008 and during the recession, but times have changed. Many have since gone out of business. Before paying for anything, make sure the company is legit.





    Business Loans, Westpac, loan for business.#Loan #for #business

    Business loans

    Loan for business

    Vehicle equipment finance

    When you don’t want to use cash flow to purchase new assets.

    • Business vehicle finance: Buy, hire or lease the latest model without tying up your cash
    • Business equipment finance: Buy, hire or lease – the choice is yours when it comes to financing plant and equipment.

    Loan for business

    Business overdraft

    Provides cash flow relief with funds to cover business expenses, such as invoices and wages until you’re paid.

    • Unsecured Business Overdraft: Up to $50k. No asset security taken. Director’s Guarantee required for Corporate borrowers

    Loan for business

    Business loans

    Great for purchasing an existing business or franchise, or investing to grow.

    • Westpac Business Loan: Borrow from $20,000 and choose between a fixed rate with predictable repayments or variable rate with flexible repayments

    Looking for other business loans?

    Get started online

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    Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

    Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.





    Medium to Long-term Business Loans, business loan.#Business #loan

    Medium to long-term business loans

    Most businesses need a financial helping hand to either get them off the ground or expand and a medium to long-term business loan can be one of the best ways to get funding. It’s not as easy as it once was to find business loans, but the major banks still all offer them and if your business plan, credit score and homework is all in place, it’s certainly worth applying.

    You can get insurance from these companies through MoneySuperMarket, but this doesn’t include every single insurer on the market.

    Fee free small business loans from 1,000 up to 35,000

    Pay back terms to suit you – borrow for one year, or up to 10 years

    Business loan

    Small Business Loan

    Rates from 4.5% per year. Terms from 6 months – 5 years

    Apply online get a decision typically in 24 hrs

    You ll have a dedicated Account Manager from start to finish

    Business loan

    Searching has no impact on your credit score

    Service is completely free to use

    Choose which providers you deal with

    Business loan

    To complete your application you will need:

    -Your basic personal and business details (Esme may ask for photo ID)

    Business loan

    How our site works

    When you’re looking for a medium to long term business loan, we want to give you as much choice as possible, so you can choose what’s best for you. Some lenders don’t want to be included on comparison websites, so we can’t promise to show you every single one. We show high street banks at the top of the list, with other lenders further down. We rotate the other lenders on the 1st of every month, so the ranking order changes regularly. You can find out more about how we work here.

    Medium to long-term business loans

    Setting up a business or expanding your current one can be expensive. Some people opt to fund it themselves but for many, this is impossible and chances are you’ll need financial support.

    The reason many business owners prefer a medium to long-term business loan is so they can be certain that they will have funding in place to support their enterprise for several years. In turn, this will help them plan and budget.

    Here, we take a closer look at some of the advantages and disadvantages of medium to long-term business loans…

    Longer term loans

    A medium to long-term business loan typically enables you to borrow money to help your business for one to five years.

    The loan is repaid in monthly instalments, with interest added to the amount you owe. There are two types of business loan:

    • Fixed rate of interest: Your payments won’t change over the term of the loan.
    • Variable rate: The amount you owe could vary over the loan term.

    Make sure you know which you are getting into as this could have a real impact on budgeting for your business.

    Advantages of a medium to long-term loan

    A medium to long-term business loan can help with all the costs associated with setting up a business, from cashflow to expenses and paying staff.

    The longer the term of your loan, the lower your monthly payments will be, as you are spreading the cost over a longer period of time. This can be useful when you are trying to get your business off the ground, as it means you won’t have to make high monthly payments at a time when there will invariably be plenty of other set-up costs to consider.

    Disadvantages of a medium to longer term loan

    Taking out a business loan over a longer period may mean that your payments are lower than if you’d opted for a shorter term loan, but remember that ultimately this means you will pay more interest overall.

    How much interest will you pay?

    The amount of interest you must pay on a business loan will depend on your individual circumstances, including how much you want to borrow and over what period of time. If your business is just starting out, the lender will usually want to look at your personal credit rating to give them an idea of how responsibly you manage your money. The higher your credit score, the more likely you are to be offered a loan at a competitive rate of interest.

    Alternatives to medium to long-term business loans

    As well as loans, there are several other ways that business can secure funding. You may, for example want to use a business account overdraft which can provide you access to funds as and when you need them, making them useful for any unforeseen expenses. Business overdrafts are usually available for any period up to 12 months.

    Alternatively, you may want to consider a business credit card. These can provide a useful way to manage staff spending and usually give up to 56 days interest-free credit.

    Other options include cashflow finance, which enables companies to borrow against the value of their unpaid invoices, and borrowing against assets, for example your business’s property or equipment.





    Compare Business Finance Products Today at MoneySupermarket, business loan.#Business #loan

    Business finance

    Compare business finance products

    Seek out the best deals on a wide range of products including in-credit business current accounts, cashback business credit cards and short-term business loans – plus get exclusive deals on business products that you can’t find anywhere else.

    Business finance. Trust us to explain it simply

    Explore

    Medium to long-term business loans

    We ve provided a list of those who can help if you re interested in taking out a medium to long term loan.

    Commercial mortgages

    Every question you have around commercial mortgages – solved

    Business saving accounts

    Just like a personal account, you can manage and save your financies to support your business

    Asset financing

    Financing for the things where your business needs it most

    Short-term business loans

    From helping with cash-flow to expansion costs, a short-term loan could be an option if your business needs a boost

    Invoice financing

    Often an ideal solution when in need of a instant cashflow-fix.

    Business current accounts

    Compare and find the best business current account to suit your business

    Business credit cards

    Facilitate staff spending and much more with business credit cards

    Business money transfers

    Credit cards can be used as a way of managing both staff spending and cashflow.

    Business insurance

    Ensure your business has the protection it requires

    Business energy

    Just like your home, compare and save money on your business energy and gas

    Managing business expenses

    Discover a great alternative to a business credit card

    Guides

    What are business loans

    All you need to know about taking out a loan for your business.

    What are business current accounts

    The best way to keep your personal and business-banking separate.

    Business savings accounts explained

    All you need to know about taking out a loan for your business.

    Peer-to-peer business loans

    A loan that comes from individuals, as opposed to the bank. We explain how.

    Invoice financing

    How it works, and how it can benefit your business

    What are business credit cards

    Credit cards can be used as a way of managing staff spending and cashflow

    Business finance in general

    When it comes to managing your business finances, it’s not all that different from managing your personal finances.

    The key difference is the fact you want to seek out products that are specifically designed for business use, as these will offer better rates as well as other features aimed at making running your business easier for you.

    Who business finance is for?

    Business finance is for any type of business, no matter how big or small.

    You may want to think about business finance if you operate as a sole trader, or if you are a limited company – or if you are anything in between.

    Who can apply?

    Anyone who owns a business can apply for business finance, but you must remember that with some products, such as business loans, it may be difficult to get accepted in the current uncertain climate.

    As a general rule, those businesses with the cleanest credit record have the best chance of getting accepted – and of getting the best rates.

    What products are available within business finance?

    There are a wide range of products available within business finance offered by numerous different banks and other financial organisations, including business current accounts, business credit cards and business loans.

    Each product on offer in business finance has been designed with business in mind, and will help you to run your business operations more smoothly.

    Why are we the best website for business finance products comparison?

    If you’re looking for business finance products then you need look no further, as we compare hundreds of deals from different providers in one place to seek out the very best deal for you and your particular needs.

    We offer a free and independent comparison tool, and also have access to exclusive deals on business finance products that you won’t be able to find anywhere else.





    Loan Programs, South Eastern Economic Development (SEED) Corporation, sba loan programs.#Sba #loan

    Loan Programs

    Sba loan programs

    SEED Financing Programs

    SEED operates four different loan programs, which provide funds in amounts ranging from $1,000 to $5.5 million. The programs are defined by both the dollar amount and use of the proceeds sought by the borrower except for the Micro Loan Program which often provides loans to start up businesses and those not yet bankable .

    SEED s financing programs listed below are designed to work in conjunction with the lending including commercial institutions in the region:

    SBA 504

    Description: Fixed asset lending up to $5.5 million at competitive fixed rates.

    Application Requirements: No application needed.

    Revolving Loan Fund

    Sba loan programsDescription: Gap financing up to $250,000 for working capital or fixed assets at below market interest rates.

    Application Requirements: SEED application (.pdf)

    Micro Loan

    Description: Working capital and machinery and equipment loans up to $50,000 at competitive fixed interest rates.

    Application Requirements: SEED application (.pdf)

    For more information, please contact SEED Corp.

    SEED is an equal opportunity lender and business assistance provider.

    SEED Corporation, 80 Dean Street, Taunton, MA 02780

    Quick Links

    Sba loan programs Sba loan programs Sba loan programs Sba loan programs

    Latest News

    • SEED Receives $25,000 from Rockland Trust for Small Business Technical Assistance November 6, 2017
    • SEED Makes Loan to Le Central Restaurant in Bristol, RI November 6, 2017
    • SEED Seeks a Commercial Loan Administrator and Part-Time Commercial Loan Assistant November 1, 2017

    Copyright South Eastern Economic Development (SEED) Corporation | All rights reserved





    How to Finance Your Start-up Business, Small Business BC, business startup loan.#Business

    Small Business BC

    How to Finance Your Start-up Business

    If you’re planning on starting a business, chances are you’ll need some form of capital, which simply refers to the money that finances your business.

    One reason for the failure of many small businesses is that they undercapitalize their business. Therefore, it is important that you know how much money you will actually need to start and to run your business until you reach your break-even point—the point when your sales revenue equals your total expenses.

    Ask yourself:

    • How much money is required to start this business?
    • How much of your own money do you have for this business?
    • Do you already own any of the assets needed to start this business?
    • Do you have family, friends, acquaintances, or others who are willing and able to invest in this business?
    • Do you have a strong personal credit rating or lines of credit available?

    Equity Investment

    Equity means ownership. With equity investment, an investor makes money available for use in exchange for an ownership share in the business. If you use equity investment, be sure to consider how much ownership you’re willing to give up, and at what price. Once you sell 51 percent of your shares, you lose control of your company.

    Equity investment includes any money from individuals, including yourself, or other companies in your business. This money may be from personal savings, inheritance, personal loans, friends or relatives, business partners, or stockholders. These funds are not secured on any of your business assets.

    But, before going down this road, it is important to know the BC laws that apply to any company or other entity that raises money from investors. To find our more read our article: Seeking Equity Investment? Know the Rules

    Personal Savings: The Most Common Form of Equity Investment

    You’ll likely get most of your start-up funding from your personal savings, inheritances, friends, or family. In fact, according to Statistics Canada’s Survey of Financing of Small and Medium Enterprises 2007, 76% of small businesses in British Columbia financed their business with personal savings.

    Aim to fund 25% to 50% of your business from your own pocket. This shows prospective lenders and investors that you are personally assuming some risk, and are committed to your business success. It’s also a requirement for many small business loans, which are usually secured (i.e. backed by assets).

    Throughout the course of your business, try to keep a personal investment of at least 25% in your business to increase your equity position and leverage. The more equity your business has, the more attractive it makes you to banks that can loan you up to three times your equity.

    Debt Financing

    1. Government Funding

    Typically, the most sought-after type of financing is government grants because it’s free money that you don t have to pay back. Unfortunately, a grant might not be an option for your business because not only are there very few grants available, most are geared towards specific industries or groups of people such as youth, women, or aboriginal owners.

    The majority of government funding programs are typically loans, for which you ll be required to repay the principal amount plus interest.

    In 2007, only 2% of businesses obtained some sort of government funding or assistance. You can find information about government funding programs for free:

    • Search the Canada Business Grants and Finances section, which lists available government programs across Canada.
    • Contact your industry association to find out if they know of any grants you might be eligible to receive.

    Since the application process varies from program to program, you should contact the coordinator of the program that you’re interested in to find out what the specific application requirements and process are.

    2. Commercial Loans

    Commercial or personal loans from financial institutions account for the second most common form of financing at 44%.

    • Long-term loans. Use long-term loans for larger expenses or for fixed assets that you expect to use for more than one year, such as property, buildings, vehicles, machinery, and equipment. These loans are generally secured by new assets, other unencumbered physical business assets, and/or additional stakeholder funds or personal guarantees.
    • Short-term loans. Short-term loans are usually for a one-year term or less, and can include revolving lines of credit or credit cards. These are generally used to finance day-to-day expenses such as inventory, payroll, and unexpected or emergency items, and can be subject to a higher base interest rate.

    Getting Your Loan Approved: What do Potential Lenders Look For?

    Many lenders will look for the four “C’s of Lending” when evaluating a loan application:

    1. Cash flow. Your ability to repay the cash you are borrowing. This is measured using the cash flow forecast that you created for your business plan.
    2. Collateral. The value of assets that you are willing to pledge for assurance that you will repay your loan. A dollar amount will be placed on these assets and that will be compared to the amount of the loan you requested.
    3. Commitment. The amount of money that you re committing to your business. You can’t expect to obtain a loan without contributing a fair share yourself.
    4. Character. Your personal credit score and history with the financial institution. Your credit rating or score is calculated from your history of borrowing and repaying bank loans, credit cards, and personal lines of credit. Without a good credit rating, your loan prospects decrease significantly.

    A lender might determine how much to lend you by evaluating your cash flow, collateral, and commitment. They will then subtract your existing debt to arrive at a final amount. Note that lenders look at the limit on your credit cards, not the amount you re currently using.

    Typically, start-ups are not rich in assets so you may be required to secure your business loans with personal collateral such as your house or vehicle(s).

    The difference between a private lender and a government program is the relative importance of these four C’s. A bank might place more importance on “collateral” and “commitment”, whereas a government program can often decrease the need for these by providing a government guarantee to the lender.

    Make a Good Impression With Your Lenders

    You can increase your chances of securing a loan by:

    • Having strong management and staff
    • Showing steady business growth potential
    • Showing reliable projected cash flow
    • Offering collateral
    • Having a strong personal credit rating
    • Always making your loan and interest payments on time, and never missing a payment