article thumbnail

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

Up and Running

Luckily, the SBA has created a separate COVID-19 Disaster Loan, with less stringent eligibility criteria and a streamlined application process to hopefully make more funds available for more businesses. . Most banks will not issue traditional SBA loans to brand new businesses. Your business is brand new.

SBA 139
article thumbnail

The Right Ingredients: SBA Loan Prep Steps

YoungUpstarts

Small businesses often seek out SBA loans for assistance with working capital because these loans have the lowestsingle-digit interest rates, and best repayment terms with lower monthly payments compared to other options. However, there are several challenges a small business faces when attempting to secure an SBA loan.

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

The SBA Needs To Get It’s Act Together On The PPP

VC Adventure

The SBA’s implementation of the Payroll Protection Program (PPP) has been a mess. In particular, the SBA has given inconsistent guidance that continues to change and evolve, leaving companies left to wonder if they qualify or not. But, while very well-intentioned, it’s implementation has been flawed.

SBA 79
article thumbnail

Vital Tips For Small Businesses And Entrepreneurs During Covid-19  

YoungUpstarts

Make a list of bills you owe each month ­­— it could be rent, payroll, utilities, inventory, software subscriptions, etc. But I would also recommend working with your Small Business Administration (SBA) lender, if you have one, to ensure that you have the right information needed to apply.

article thumbnail

The Basics of Small Business Loans [WEBINAR]

Up and Running

As I’ve been working in this industry, as Sabrina started out said, I was the Chief Marketing officer of CAN Capital which is a big alternative lender and now I’m the Vice President of SmartBiz SBA Loans. The third here for startups is the SBA. The SBA will provide loans to new businesses. Who might qualify for an SBA 7A loan?

article thumbnail

How to Get the Most Out of Your Business Plan Writing Service

Up and Running

If you’re starting a SaaS (software as a service) company, your target market isn’t actually everyone with a computer or mobile device. A portion of the SBA loan is guaranteed by the Small Business Administration and requires documentation and attention to detail that anything associated with the government will always entail.

article thumbnail

What’s an SBDC and Why You Want to Know

Up and Running

Our local SBDC, for example, has 29 workshops on its website, most of them two-or-three-hour workshops in essentials such as basic bookkeeping, QuickBooks, Quicken, Getting an SBA Loan, etc., Disclosure: I’ve been working with SBDCs since 1995, as part of what I do at Palo Alto Software. for $49-$99. That’s typical.

SBA 80