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Create 600 Million Jobs!

If you’re serious about successfully starting a business of your own, research clearly shows that the better you prepare yourself, the greater your chances of success. SBA loans are for established small businesses capable of repaying a loan from cash flow, but whose principals may be looking for a longer term to reduce payments or may have inadequate corporate or personal assets to collateralize the loan. Resources for financing including understanding the approval process for loans and grants are readily available and are essential steps in forming a business.

Businesses are also eligible for long-term, low-interest loans to recover from declared disasters. A guaranteed loan is one made by a commercial lending institution (usually a bank) to a small business customer. During these times, there is always a threat that your small business will not be able to stay afloat.small business administrationsmall business administration

Symantec Corp.’s 2016 Internet Security Threat Report(link is external) indicates the percentage of spear-phishing attacks targeting small business rose dramatically from 18 percent to 43 percent between 2011 and 2015. Provide a personal financial statement for each individual owning twenty percent (20{217058f03f8baac3c137a5cf7bc2099b1f6c0fe755c061bd162c9b518df12216}) or more of the business.small business administration

The 8(a) program is primarily for companies that have been in business for a minimum of two years, though that rule may be waived if your company is able to meet some pretty strict management, financial, and performance criteria. 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.

Lower down payments: If you are considering the purchase of real estate, equipment, inventory, or other business assets, an SBA loan can often dramatically reduce your down payment. Since that time, though, SBA financing as well as government grants for nonprofit organizations and green technology development have changed for the better.

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