Just Elementary, Inc. » Entries tagged with "SBA"
Basics of Applying for Lines of Credit, Working Capital & Business Acquisition Loans
Trying to get a Working Capital Loan, Line of Credit of Business Acquisition Loan? There are a lot of erroneous perceptions among business people about which facts, figures and terms are important in getting a loan and which bank to get loans from. If you are just starting out in business, one possible benefit from banking with a smaller community bank that is that you will be a bigger fish in a smaller pond, and you will … Read entire article »
Filed under: Business Tips, SBA
SBA Express Loans under $250,000 Easier to Get
A great article in the LA Times points out that the SBA loan programs is getting some needed modifications. We’ll specifically cover the smaller ‘Express’ Loans. ‘Express Loans’ is a term that describes SBA loans that are up to $250,000 in value. Express loans have been historically hard to get for a couple of reasons. Number 1, there is not a huge profit margin to them for a bank, and number 2, the bank had 50% … Read entire article »
Filed under: Business Tips, SBA
Failed Franchises Measured by SBA Loan Failure Rates
Sounds like strong language. Thanks to our friends at thefranchisehound.com we have a list of SBA Loan Failure Rates for loans doled out to franchised businesses. An important disclaimer is that the list is not the actual failure rates of franchisees for a the listed franchises, it is only a list of SBA Loans gone bad that were given to franchisees of the franchises. Note that even 3 of 14 SBA loans to McDonald’s franchisees … Read entire article »
Filed under: Franchises, SBA
Why You Can’t Get an SBA Loan
People complain that securing an SBA loan is too difficult. There are many factors at play, here we consider the impact of a Borrower’s Business Experience on their qualifications. In the early part of the past decade, as the economy grew at astronomical rates, the rate at which business bank loans went bad shrunk to and hovered at minuscule levels. Once this failure rate was super low for too long, enforcement of the experience criterion became … Read entire article »
Filed under: Business Tips, SBA
CDC/504 SBA Loan Program
SBA/CDC 504 Loan Program The CDC/504 loan program is the only SBA loan in which the SBA puts up a single penny. Unlike other SBA loans, in which the SBA only provides a guarantee to the bank, in the CDC/504 program the SBA injects 40% of the Project cost into the loan. Fifty (50%) percent comes from the bank and the remaining (10%) comes from the borrower. So how does this program work? Well, a little … Read entire article »
Filed under: Business Tips, Real Estate Tips, SBA
Gilmore Bank Mixer 10-14-10
Some interesting nuggets came from the Gilmore Bank Mixer held at their branch location at the Grove/Farmer’s Market in Los Angeles. Number one, for those of you who don’t know, Gilmore banks owns the Real Estate that the Grove is developed upon. It is on a long term land lease to Rick Caruso’s company. Number two, Jim Roby and Cyrus Greene, both Gilmore associates involved in commercial lending, noted that of the applicants that they are reviewing for SBA loans, they have noticed an increase in 2010 revenues and profits over 2009 figures. Of course, this doesn’t mean all companies are experiencing a better 2010 over 2009, just that struggling companies may not bother to even apply for a virtually guaranteed no. Here is the one nugget to really take … Read entire article »
Filed under: Business Tips, SBA
CABB OC Chapter Meeting 9-28-10
I skipped today’s RIAOC meeting today due to a conflict with the CABB O.C. Chapter Meeting today. It was nice to catch up with a few Business Brokers that I had not talked to recently. Key takeaways from the meeting are that loans are happening for business acquisitions, but the adherence to criteria is a must. Namely, the experience criterion. Today, we were told that a buyer was able to secure an SBA loan for a … Read entire article »
Filed under: Business Tips, SBA
Archives
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010