SBA Loans for Computer Repair Companies

In 2017, the U.S. computer and electronics repair industry took in $18 billion of revenue and employed nearly 140,000 workers across the country. While the industry has been challenged by the reduced costs of electronics, companies in the right market can still take in a big profit. So, if you’re looking for financing to open, expand, or refinance business debt on a computer repair company, an SBA loan could be the perfect option.

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Goodwill in Relation to SBA 7(a) Loans

Goodwill is an intangible asset that arises when a new owner purchases a business. Goodwill only arises when the new owner purchases the business for more than the tangible and intangible assets, minus the business’s liabilities. In general, SBA loans limit the amount of goodwill involved in a business acquisition, as the more goodwill involved in a transaction, the riskier it is for both the lender and the borrower.

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Can You Get an SBA 7(a) Loan for a Medical Center?

Americans spent over $3 trillion on healthcare in 2016 alone, making it one of the largest industries in the entire country. And, while much of the industry is dominated by large public and private hospitals, as well as doctors’ offices, smaller, private medical centers also occupy an important market niche. And, if you own (or want to own) an independent outpatient medical center, a small surgery clinic, or an ultrasound/MRI center, an SBA 7(a) loan could be a great way to get the financing you need to start, maintain, and grow your business.

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Are there SBA Loans for Women Entrepreneurs?

According to the National Association of Women Business Owners (NAWBO), there are over 11.6 million women entrepreneurs across the U.S., generating approximately $1.7 in sales each year. And, just like other hardworking entrepreneurs, women need capital in order to start, maintain, and grow their businesses. Fortunately, the SBA has stepped in with several programs that can help women take their businesses to the next level. If you’re a woman business owner looking for SBA funding, this is what you need to know.

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Can SBA Loans Be Used for Real Estate Investment?

SBA loans cannot be used for businesses in which the primary source of income is real estate investment. In fact, SBA loans can only fund real estate that is owner-occupied, and will be used primarily by the business that is taking out the loan. However, in most cases, a business only needs to occupy 51% of the property it has purchased.

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What is a Low-Doc SBA Loan?

If you’re a borrower who wants an SBA loan fast, a low-doc SBA loan could be the ideal solution. Unlike typical SBA 7(a) loans, which may require up to 2-3 months to be finalized, low-doc loans can be completely finalized within 45 days (or even sooner.) Low-doc loans offer borrowers between $25,000 and $150,000, which can be used to fund inventory, equipment, and working capital for small businesses.

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Can a Non-U.S. Citizen Apply for an SBA Loan?

If you’re not a U.S. citizen, can you still qualify for an SBA loan for your small business? The answer is yes— but not in all cases. In general, legal permanent residents (LPRs), also known as green card holders, can qualify for SBA financing. However, if a borrower is not a legal permanent resident, things can get a little more complex.

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SBA 7(a) Loans for Trucking and Transport Companies

Right now, there are approximately 500,000 trucking companies in the U.S., employing 3.5 million people and generating nearly $700 billion in revenue each year. Between 2006 and 2015, trucking and transport companies took out more than $774 million in SBA 7(a) loans, with an average loan size of $106,000. And, since 7(a) loans have a variety of uses including funding working capital, owner-occupied commercial real estate, and equipment purchases, it’s not hard to see why they’re so popular for trucking firms.

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What are SBA Community Advantage Loans?

If you’re a minority business owner, or a member of another underserved community, it can be especially challenging to get financing for your small business. Fortunately, the Small Business Administration is committed to providing small business loans to underserved populations through its Community Advantage program.

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SBA 7(a) Loans for Liquor Stores

There are nearly 50,000 wine, beer, and liquor stores througout the United States, generating an annual revenue of approximately $58 billion. Between 2006 and 2015, liquor stores took out more than $2.3 billion in SBA 7(a) loans, with an average loan size of $366,000. If you’re looking to purchase, expand, or refinance business debt on a liquor store, SBA 7(a) financing could be a fantastic option— and since borrowers can use these loans for working capital, owner-occupied commercial real estate, and equipment, they’re the perfect choice for the needs of many wine, beer, and liquor sales businesses.

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The Top 5 Best Working Capital Loans for Small Businesses in 2018

Working capital is essential for any functioning business; without enough of it, business owners can’t afford to pay their employees, fill orders, or even keep their lights on. Even if a business has thousands (or millions) in unpaid invoices, if they don’t have enough cash to operate, they can easily find themselves in big trouble. Below, we’ll mention some of the best working capital loans out there, and how they might be able to help your small business thrive.

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What Are The Best Franchises to Start With an SBA 7(a) Loan?

While you might already know that SBA loans are available to many franchises, you might not know how they stack up against each other. In this article, we’ll take a look at some of the most successful franchises that can be funded with SBA loans and compare their performance based on their loan default rates.

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