Key Process Of Obtaining A Small Business Loan Essay

Key Process Of Obtaining A Small Business Loan Essay

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1. Describe the overall process of obtaining a small business loan.
When trying to obtain a small business loan you are going to want to do your research first. The best place I feel that will be willing to work with you the easiest is the place you bank with. The next step would be to fill out the loan application for the lender to review the application for credit score and history. The lenders will most likely analyze the financial ratios of your business and check to see what collateral and equity you have. All this will be to determine whether you have the ability to repay the loan. After the review is complete the lender will make one of two decisions, approve it or turn it down.
2. What levels of funding are available through the SBA?
There are three different types of funding available through the SBA. First type would be one of the many different types of loans available. These loans would include your basic 7(A) loans, microloan program, disaster loans, veteran loans or a special purpose loan. Another possible type of funding would be a grant. All though this type is only...

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