SBA loans are made through banks, credit unions and other lenders who partner with the SBA. Liberty Capital Group: Liberty Capital Group offers a wide variety of business funding programs, including conventional business loans, SBA loans, commercial real estate loans, equipment and machinery financing, lines of credit, asset-based financing, and low-credit financing.
The documents that you need for a professional loan are Proof of Identity which can be either be your Passport copy, Voters ID card, Driving License, An address Proof like your ration card or telephone bill, a copy of your bank statements for the last six months, your education qualifications, income tax returns, proof of continuation like a Trade license or Establishment or Sales Tax certificate and other documents like Sole Proprietorship, Partnership Deed etc.
Fintech is a catchy handle to describe a rapidly emerging phenomenon that really is disrupting the banking landscape and consumer expectations, but the reality is that the fintechs’ advantage is not primarily a technological one, but that they do a very good job of identifying unmet SME loans banking needs and then creating radically compelling value propositions, simple solutions that each do one thing really well and really simply, thinking mobile first.
Another effective way to build credit history is through business credit cards, similar to lines of credit these ones have lower interest rates as well, and you build credit history in no time, plus you have immediate access to purchases your business could be needing.
A typical loan application asks for basic information about your business, such as the structure of the company, why you need a loan instead of personal finances and how you plan to use your capital In addition, you should show an excellent credit score, business experience , collateral and any licenses required to run a business in your area to prove you are responsible.