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Click ‘Get Form’ to open the SBA LOAN APPLICATION in our editor.
Begin by filling out the 'Business Profile' section. Enter the name of the applicant and the operating company name. If you have a business plan, check the box indicating that you are attaching it.
In the 'Outlook for Operating Company' section, describe how this loan will benefit your company and whether it will create new employment opportunities. If yes, specify how many employees you expect to hire within 24 months.
Complete the 'Customer Profile' by listing primary markets, key customers (including their names, cities, states, and revenue percentages), major competitors, and suppliers.
Outline your future plans in terms of growth strategy and potential impediments that may impact success.
Fill in the 'Marketing Analysis & Strategy' section detailing promotional, pricing, and distribution strategies.
Provide information on key contacts, vendors, or partners including names and phone numbers.
Answer all questions regarding bankruptcy involvement and relationships with SBA-related entities. Use additional space for any necessary explanations.
Finally, sign and date the application to certify that all provided information is accurate.
Start using our platform today to easily complete your SBA LOAN APPLICATION online for free!
What is the difference between a 7a and a 504 SBA loan?
The SBA Express allows certain lenders to generally use their own processes and procedures in exchange for a lower SBA guaranty percentage. SBA Express lenders have delegated authority to process, close, service, and liquidate the 7(a) loan without SBA review.
What is the minimum credit score for a SBA loan?
If you have good credit and can meet the lenders eligibility guidelines, getting a business loan with an LLC can often be easy. But new businesses and companies with limited revenue may have difficulty getting approved, especially with traditional banks and credit unions.
Which SBA loan is easiest to get approved for?
Be small under SBA Size Requirements. Not be a type of ineligible business. Not be able to obtain the desired credit on reasonable terms from non-Federal, non-State, and non-local government sources. Be creditworthy and demonstrate a reasonable ability to repay the loan.
Completed SBA loan application (SBA Form 5 or 5C). Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates. Complete
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