business plans
 Internet Cafe
7 Step Business Plan for SBA Funding



SBA Loans Are There For Those Who Know How To Get Them


sba loans

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.
  
Helen Keller, Activist for the Blind

 





*

  


SBA Loans

SBA loans provide more financing for small businesses in the U.S. than any other single source.  Finding the lender that is right for you, however, can be challenging.

 Locating Your SBA Lender

Not all SBA loans are the same, and not all SBA lenders are the same. Far from it. Each bank seems to develop its own personality. Some take particular pride in serving the local business market; others brag about international connections; others have long histories in particular industries.

The most powerful thing you can do in preparing your business plan is to first meet briefly with your local banker, explain what you are doing, and ask what the bank is looking for. Listen carefully.

The banker will tell you whether they are looking for business plans with strong assets, or longevity, or potential for local growth, or small businesses that will employ many local workers in particular industries.

It is possible that the SBA bank is looking for something your small business cannot provide, such as companies that employ 100 or more workers. If that should occur, go to a different SBA lender. Your SBA loan is there -- you just need to find it.  Ask the same questions. And keep on listening.

Getting a Referral from a Lender for Your SBA Laon

One question that is crucial in locating your SBA loan is: Ms. Banker, can you recommend another bank that might be more appropriate?  This is a very valid question.  Bankers realize, too, that they cannot be everything to everyone, and most are very pleased to give referrals.  

Then, when you go to Bank #2, start out with, "Ms. Banker at General Bank at the Corner suggested I talk with you."  It's a slam dunk referral.  And it's very legitimate.

When you locate a lender that is looking for your type of SBA loan, listen even more carefully. Find the key that will put this banker in your corner. Then write a business plan that will give him what he is looking for.

SBA loans are more readily available now than they have been for quite some time. Literally thousands of businesses will capture SBA loans this year -- yours could be one of them.

Many companies fit comfortably into SBA qualifications. Yours may not. If angel investors or venture capital investors suit your company better, structure your business plan to fit those demands.

Locating the SBA Nearest to You

Your best bet is to check your local phone book, perhaps under "U.S. Government" in the front pages.  Then call for an appointment.  Although there will usually be someone in the office who can answer your questions, your best bet for a solid 30-45 minute one-on-one conversation is to make an appointment.  Call and set a time.  Jot down the list of questions you have, and take lots of notes during the conversation.

.

Return to top of SBA Loans

POPULAR ARTICES


Skip Ruzmand
SBA Specialist

Sign up for ezine here

 

TOP ARTICLES

 

 

 


 

 

Jasmine McAllister, Business Finance Specialist

          

 

Tell a colleague about this site.

You CAN Get The Funding Your Business Needs --
And
Get It NOW!!


Your 7-Step Business Plan, with ...


Dozens and dozens of businesses
Templates in MS Word and Excel, two programs you already know
Templates and examples for all sections, INCLUDING FINANCIALS!
Over 100 pages in all, with loads of step by step directions
...  And Lots, Lots More.

Click on Book Cover TO FIND OUT MORE!


Advertise on this Site     Contact Webmaster      Submit Article

(c) 1998-2008 BusinessFinance-One Inc.  All rights reserved.

Page copy protected against web site content infringement by Copyscape