Getting A Business Loan In Arizona Is Easy21/10/2023
Without a doubt, Small Business Administration loans are one of the best ways to finance your small business. Through 8(a) sole source and competitive contracting opportunities, the federal government acts as a catalyst for small business growth, innovation, job creation, and supports the national economic security of the nation. While many entrepreneurs and new businesses look to the SBA for financing, many established business take advantage of SBA-backed lending each year.
The borrower must have been in business for at least 12 continuous months before filing an application. Small Disadvantages Business Designation – Businesses can self-represent this status by entering it into the System for Award Management. Personal financial statement of the current year from any person who owns 20 percent or more share of the business.
As a result of a government wide focus on increasing small business contracting opportunities, during President Obama’s first term (FY2009 – FY2012) the federal government awarded $376.2 billion in federal contracting dollars to small businesses. The Government is also looking for commercial banks to take advantage of the Small Business Administration Loan Guarantee.
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. By lowering the risk to lending institutions, these loan programs improve financial visibility and will get banks lending and business borrowing once again.
Small Disadvantaged Business administers two particular business assistance programs for small disadvantaged businesses (SDBs). Many commercial lenders also lend money for residential mortgages, they need to find ways to make up the money they are losing in that market by increasing loans in other areas.