How to Get SBA Loans
Money makes the world go round, and this is especially true in the specific context of businesses, as without money, the business owner cannot hope to ever expand their business or indeed, be able to even pay the wages owed to their staff. For some of us, the old adage of “you need to spend money to make money” seems to be nothing more than an endorsement for reckless and impulsive spending decisions. In reality, a business that is not prepared to invest in its overall operations, that fails to seize and exploit new technology as it presents itself, will ultimately fall by the wayside.
A common method of raising additional finance for a company is through the issuing of shares. Unfortunately, this is a method which is extremely limited in both its scope and usefulness, and this is because there are many types of business entities which are directly excluded from the issuing of shares. A key concern with the issuing of shares is that the value of the shares will ultimately diminish as more and more are issued, as the share capital of the business is diluted.
In addition, the issuing of shares will mean that the business owner will end up ultimately relinquishing control of their business, and so executive level decisions that could have once upon a time, been made by them and them alone, will then be subject to the intense scrutiny of the shareholders.
Therein lies one of the key features and benefits of SBA loans, the business owner will be able to retain full ownership of their business, which in turn, means that they can implement policy and operational decisions as and how they see fit.
By relying upon SBA loans, this means that a business will be in a much stronger position to actually begin the expansion process, thereby ensuring that the productivity of the business as well as its efficiency is improved. This in turn will mean that customers will be more satisfied with the quality of the service that they receive, which plays a critical role in the cultivation of brand loyalty, and the goodwill of the company.
In order to be eligible for these types of loans, the business owner will be required to satisfy certain conditions which are perquisites which directly determine the suitability of the applicant for access to these funds.
These conditions are specified as follows:
The average net income of the applicant business must not be higher than $ 5 million for the last two tax years. Please note that the $ 5 million figure refers to the level of income of the business after taxes have been deducted.
The total value of the tangible net worth of the applicant business must not be higher than $ 15 million.
The estimated size of the project in question must exceed the personal liquid assets of the principle agents.
So there you have it, what you need to get SBA loans. Make sure that you apply today, and let your business ideas blossom!
RW has been performing SEO and website consulting online since 1997, and specializes in assisting companies in achieving top rankings online. Visit RW’s corporate page at www.FreedmanLane.com. For more information regarding SBA Loans please visit www.accountsreceivableloans.com.
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