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10 Reasons You Don’t Qualify for an SBA Disaster Loan

Up and Running

Maintaining your business through the coronavirus crisis has likely led you to cut costs, revise your sales projections, and potentially seek out a loan to help you stay afloat. Let’s break down the top reasons that may have led to your application being denied and the steps you can take to assure you secure funding on your second attempt.

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The Right Ingredients: SBA Loan Prep Steps

YoungUpstarts

The small business sector is growing rapidly. And while corporate America has been “downsizing,” in recent years, the rate of small business start-ups has dramatically increased. Bureau of Labor and Statistics research, there are an estimated 28 million small businesses in the U.S.

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Financing Your Business? Consider An SBA Loan

YoungUpstarts

by Tom Pretty, Head of SBA Lending at TD Bank. Small business is the backbone of the U.S. Small Business Administration (SBA) Office of Advocacy. This is possible, in part, because the SBA guarantees a portion of loans will be repaid, eliminating some of the lender’s risk. SBA Loan Programs.

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9 Steps to Handle Business Loan Rejection

Up and Running

Don’t settle for a form letter or secure message, be sure that you follow up with a specific person. On the other hand, some of these are not easily fixable so you’ll have to look for alternative solutions to your financing problems. You can also ask your bank about SBA-backed borrowing. Explore other financing options.

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4 Reasons Small Businesses Fail

YoungUpstarts

Most entrepreneurs start a new business with dreams of success, but the unfortunate fact is that too many of them fail. Census Bureau showed the reality in hard terms – 400,000 small businesses opened and 470,000 SMBs closed their doors just last year. Small Business Administration. LendingClub Inc. ,

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How to Get Funding for a Business

Up and Running

Most healthy businesses need business financing at some point. Startups have to deal with starting costs and ongoing businesses have to finance growth and working capital. Financing options depend on what kind of business you have. Don’t waste your time looking for the wrong kind of financing.

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The 5 Hidden Secrets Of Online Lenders

YoungUpstarts

The world of small business finance has dramatically transformed. In addition to APR, small businesses may want to use the “loan constant” to compare the true cost of different loan products. Both business and personal credit scores matter. Instead, look to get an SBA loan. Organization counts.

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