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.
- 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
- 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.
- 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.
