article thumbnail

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.

SBA 139
article thumbnail

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.

SBA 154
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 Stories of Successful New Entrepreneurs to Inspire Your Business

Up and Running

However, the challenges you face are the same ones that every successful small business owner has faced and then surmounted in some way or another. It can be instructive and inspirational to hear about businesses that triumphed over adversity. How these six businesses worked with the SBA to grow.

Columbus 134
article thumbnail

Government Grants for Small Business Startups: Finding and Applying for Them

Board Effect

Government grants for small business startups are plentiful if you know where to look for them. Federal, state, and local governments offer many grants for various types of businesses to help boost the economy. Grants provide valuable opportunities to kickstart your business, fund new initiatives, or weather challenging times.

article thumbnail

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. ,

article thumbnail

Is Life Insurance Required For Your SBA Loan Approval?

YoungUpstarts

When applying for a loan through the Small Business Administration (SBA), you have to meet some basic qualifications. Once you meet the SBA’s requirements for being a small business, you’ll need to meet an additional set of requirements provided by your lender. Applying for an SBA loan?

SBA 131
article thumbnail

How to Get Funding for a Business

Up and Running

For example, many ongoing businesses have access to standard business loans from a traditional bank that would not be available to startups. Also, high-tech high-growth startups have access to investment funding that would not be available to stable, established businesses that show only slow growth.

SBA 161