If you have a low credit rating, getting a small business loan can seem like an impossible achievement. Bank after bank talks to you, looks at your business plan, and turns you down. Even the national banks, the ones with branches everywhere you look – the ones you think could easily help you without even…
Category Archives: SBA Loan Tips
SBA Loan Book
The problem with asking someone for help is first you need to know what questions to ask. It’s one thing to have a general idea of how to go about something. It’s quite another to have a detailed written guide. Here’s the good news. To make it easier to know how to get a SBA…
Fighting Fire with Fire
There are many challenges for the Small Business owner, not the least is finding money. Aside from financial troubles, a small business owner can find themselves afoul of any number of government agencies. When Big Brother is bullying you, who can you call? The SBA has a sympathetic ear and champion for you: the SBA…
Mythical SBA Facts
Word of Mouth is great for advertising for your business, but can be misleading or even harmful when it comes to getting an SBA loan. Here are some myths and their explanations from Mortgage101 and USgovinfo. Myth: A person can get cheaper interest rates for business loans from SBA. Fact: SBA does not give rates…
Don’t Overdo It
As you probably already know, the SBA doesn’t have money to loan to you. No, the money comes from private lenders such as a bank. Instead of money, the SBA merely guarantees your loan, freeing the bank to give you better terms, or to make the loan in the first place. While this may give…
When Bankruptcy Is Looming Part II Of II
In continuation to the post on Friday. If you have outstanding medical bills that might be forcing you towards bankruptcy, contact the collection companies and the medical facilities. Providers (who are more sympathetic than collectors) will often reduce the bill if you are willing to make a lump sum payment to them. The payment is…
Maryland Wants YOU
There is approximately $300 million in capital projects that is available from the Maryland Department of the Environment (MDE). In the past, most of these projects have been awarded to non-women, non-minority based, and non-small business types of companies. Times are changing in Maryland, and definitely for the good. Governor Martin O’Malley signed legislation this…
Q&A with Steven Preston
Small Business Administration chief Steven Preston participated in a live Q&A on Monday to answer question about the small buniness community. The wastingtonpost.com has the full transcript of the call online. You can view it here. Here is one of the question answered: Washington, D.C.: How can I get in the queue to get a…
The SBA And Grants Part III Of III
In continuation to the post from Monday. The advanced search allows you to search by keyword plus the days since posted, agency, category, eligibility and more. You also have the ability to set yourself up to have emails automatically sent to you when grants are listed in a particular category that you are interested in….