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Qualifying for an SBA 7A Loan Tagged Articles
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SBA 7A Loan for Business Opportunities and Real Estate Acquisition
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| Recently, a prospective client asked about financing an upcoming busi¬ness acquisition. I immediately asked whether the business opportunity also came with real estate or if it was the purchase of a business consisting only of furniture, fixtures and equip¬ment, a work-in-progress and the client list. He said that it was a business acquisition with two five-year lease options. |
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Other Qualifying for an SBA 7A Loan Related Articles
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The Sales Presentation
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| An effective sales process is comprised of prospecting, qualifying, presenting and closing. Prospecting is the task of finding new customers. Qualifying narrows your search to those most likely to buy. The sales presentation is your opportunity to present the key benefits of your product and service. It is how you communicate to the customer the value they will receive from moving forward with the sale. |
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Basic Requirements
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| Even though the SBA-qualifying standards are more flexible than other types of loans, lenders will generally ask for certain information before deciding to use an SBA loan program. Generally, a business will need the following documentation to evaluate your loan request: |
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What is a Small Business Administration (SBA) Loan?
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| As a new entrepreneur looking for capital, one of your first options for a loan will be a SBA-backed loan. SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. (You are still liable for the loan, so your obligation does not go away) This makes it easier for banks to lend to budding entrepreneurs, but it does not mean that the bank can lend indiscriminately. The bank will analyze the application to protect its interest as well as the SBA’s. |
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BALANCE SHEET ENHANCEMENT LOANS
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| Why not take a step outside of the box and find a more legal but creative way to qualify your small and medium size business for debt or equity financing. The balance sheet loan is but one of several ways you can go about qualifying your company for a loan. I will be listing more in articles to come. How about a loan where you do not have to start making payments until two to three years after you receive the funds? I will list that one in my next article. Stay tuned to my articles |
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5 tips for a successful SBA loan
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| An SBA loan has successfully helped many small businesses. At the moment, qualifying to obtain an SBA loan is particularly challenging. The following information will help those looking to get an SBA loan to buy a business. |
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Top 10 Qualifying Fact Finding Questions That Will Earn You the Sale for Consultative Selling
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| Qualifying fact finding questions are directly connected to your industry, your products, your services and most importantly your customers. In consultative selling, I find that asking these 10 insightful qualifying questions early in the selling phase of the sales process saves me time. |
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Qualifying your Prospects
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| Qualifying your customer is the process of determining their interest in your value proposition, their budget and their decision-making process. Do they have the Money, Authority and Desire (MAD)? They are not fully qualified unless they have all three. One of the ways you can determine if they are MAD is simply to ask. Here are some qualifying questions that work. |
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Working Capital Financing – Canadian Corporate Financing Solutions
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| How to Obtain Additional Growth Capital to Finance Your Firm .Information on what alternatives are available to Canadian firms seeking working capital financing and corporate financing strategies . What type of facilities are available to firms not qualifying for traditional loan financing . |
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What is a Qualifying Event for Your Group Insurance Plan?
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| A qualifying event determines when an employee can make changes to their employee benefit elections outside of the annual open enrollment period. The IRS lists very specific events that constitute a qualifying event. Find out what they are here. |
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Understanding ( And Getting ) A Canada Government Small Business Loan – SBL Loans 101!
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| Information on the Canada government small business loan . Understanding the process of Canadian ‘ SBL Loans ‘ and qualifying for approval . |
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