At Lend Genius, our mission is to demystify the world of business lending and make financing more accessible to small business owners like you. No matter what business you're in, by the end of this video, you'll have a full understanding of SBA loans – what they are, why they're important, and most importantly, how to get one. The Small Business Administration (SBA) is a government body that supports entrepreneurship in America. It backs third-party loans for growth activities such as purchasing inventory or equipment, buying real estate, and acquiring other businesses. With rates as low as six percent and terms as long as twenty-five years, SBA loans are among the most inexpensive forms of financing available to small business owners. They are applicable for many general business needs. The general SBA 7(a) loan program is a broad and well-known category that provides flexible loan guarantees of up to five million dollars. There are also real estate and equipment loans available through the CDC 504 loan program, which helps business owners obtain property and other tangible assets with a favorable low downpayment, fixed interest rates, and long repayment periods. Additionally, there's the microloan program, which is perfect for businesses seeking a loan of $50,000 or less to be used towards machinery, furniture, inventory, or supplies. Let's not forget about the disaster loan program, which provides low-interest loans to replace or repair property, machinery, equipment, or inventory damaged in a disaster. But how do you qualify for an SBA loan? The first thing you'll have to do is complete an SBA loan application. Eventually, you'll also be asked to produce financial documents, tax returns, legal documentation, and a business plan. The requirements may vary depending on which program you're applying for, but not all SBA lenders require this much documentation. You'll have a great...
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Sba 480 Form: What You Should Know
See 1405A Notice for SIC Exam Nomenclature Guide. SBA Form 480 Size Status Declaration A SIC has reported more than 60 days of time loss in all three of the SIC areas: small business; small manufacturer; and small distributor. SBA Form 480 Size Status Declaration To determine whether a SIC is a small business (SBA 3) or small manufacturer (SBA 3), it must have received the information on SBA Form 480 SBA Form 480 Size Status Declaration. It must also report whether any one of the SIC areas has required more than 60 days of time loss. See SBA Guide 1520: Small Business Examination. Supporting Statement for SBA Form 480 — SIC Exam Form This supporting statement (Form SBA Form 480) states that the applicant is a small business, or small manufacturer.
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