SBA Cleveland District Office SBA Loan Programs ODJFS Akron Mark Hansel, SBA (216-522-4191)...
-
Upload
brandon-harvey -
Category
Documents
-
view
215 -
download
0
Transcript of SBA Cleveland District Office SBA Loan Programs ODJFS Akron Mark Hansel, SBA (216-522-4191)...
-
SBA Cleveland District OfficeSBA Loan ProgramsODJFS Akron Mark Hansel, SBA (216-522-4191)September 22, 2009
SBA Cleveland District Office
-
SBA Cleveland District OfficeThe SBA GuarantyGuaranty loansNot a direct lenderMost banks are active
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA FinanceLender drivenGuaranty up to 90% under RecoveryUsually 50%-85%Max of $2 million for 7(a)
SBA Cleveland District Office
-
SBA Cleveland District OfficeThe Usual ProcessApply to the bankMay recommend SBA supportIf declined, find out why
SBA Cleveland District Office
-
SBA Cleveland District OfficeLikely SBA SituationsStart-upsChanges of ownershipCollateral shortfalls
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA EligibilityMust be smallGood character and creditUS citizen or LPRBusiness type
SBA Cleveland District Office
-
SBA Cleveland District OfficeTypes of BusinessFor profitActive, not passiveNo to certain types (like gambling)
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Guarantee FeesWaived under RecoveryGraduated (2,3,3.5%)May be financed
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Interest RatesReally a market rateUsual limits of P+2.25-2.75%May be higher under Express
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Credit PolicyRepayment abilityHistoric or projected earningsReasonable projections
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Collateral PolicyTake all usuallyMay be relaxed under Express
SBA Cleveland District Office
-
SBA Cleveland District OfficeWho Guarantees?20% or more ownership Perhaps under 20%
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Loan Uses and TermsWorking capital up to 7 yearsEquipment up to 15 yearsReal estate up to 25
SBA Cleveland District Office
-
SBA Cleveland District OfficeThe Express FamilyRegular, Patriot and CommunityCan do lines and term loansLoan limits vary
SBA Cleveland District Office
-
SBA Cleveland District OfficeSBA Resourceswww.sba.gov1-800-U ASK [email protected] for Cleveland office
SBA Cleveland District Office