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How to Lock In Historically Low Interest Rates for Your Business

With interest rates so low, the main question we receive from both small businesses and lenders is:

How do we lock it in fast?

Here’s a Funding 101 Cheat Sheet to download for yourself or your customers.

  1. PINPOINT: WHAT DO I NEED FUNDING FOR?
  • Start or purchase a business
  • Purchase, renovate or expand facilities
  • Purchase inventory, equipment or machinery
  • Revolving credit/working capital for day-to-day expenses
  • Export a product or service
  1. DETERMINE: DO YOU NEED HELP WITH YOUR BUSINESS PLAN OR LOAN PACKAGE?

To attain a government loan with below market, fixed interest rates, you must present a business plan if your business is a startup or in growth mode. For new and existing businesses, you will need to put together a loan package that includes historical personal and business financials for the business seeking financing as well as any affiliate businesses.

  1. PREPARE TO DISCUSS:
  • Size and purpose of your loan
  • Size and age of your business
  • Your credit history
  • Financial projections
  • Your technical assistance/mentoring needs
  • Historical business financials
  • Historical personal financials for all owners

No need to feel overwhelmed! For questions and support during your loan process, contact an SBA-certified development company like Seedcopa + SeedcoDE at srobbins@seedcopa.com or 610-321-8241.

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