SBA Financing for New Businesses
SBA loans are meant to help you start and succeed in your new business:
- Restaurants
- Dry cleaners
- Car repair shops
- Motels
- Bakeries
- Trucking companies
It is easy to qualify for an SBA loan to help start your new business:
- Related industry experience
- 25% to 30% to invest in the new business
- Good personal credit (640 or better)
- Sufficient collateral to secure loan
Here’s what we need:
- Resume demonstrating related industry experience
- Last three years personal tax returns of principals who will own 20% or more of the corporate stock
- Personal financial statement of principals who will own 20% or more of the corporate stock
- Personal history on principals who will be operating the business
- Business Plan, detailing two years of projections, total start-up project costs and customer’s total investment
- Uniform Franchise Offering Circular (if franchise)
- Clear copy of valid Drivers License for all principals who will own 20% or more of the corporate stock
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