SBA Small Business Loans

Idea Analysts and Associates (IAA) has nearly 10 years experience in helping our clients with Small Business Administration loan packages. When considering an SBA loan, contact us to go over the factors to consider when applying for a SBA loan. We look at the "5'c's" of lending which include character, collateral, capacity, capital, and current conditions. For example, in regards to capital, a potential borrower that is just starting their business needs to have a minimum of 20% capital injection (capital of their own to put into the business). The interest rate on a SBA 7a loan ranges between prime + 2.25%-2.75% depending upon the term of the loan. We help you to prepare the documents needed when approaching a SBA lender. Documents include but are not limited to, the personal financial statement (personal balance sheet), a net discretionary income statement (personal), business plan, pro forma projected cash flow and profit and loss statements, and current financial statements for the business. Assistance is provided with preparing loan documents, as well as finding an appropriate SBA lender to meet your needs. Microloans are also available if you are planning to borrow $35,000 or less. Minority applicants are eligible for pre-qualification. This is a process by which the loan package is submitted to the SBA first for their "stamp of approval" so to speak, before approaching a SBA lender. SBA loans are potentially available to a business entity defined as small by SBA's size standards (i.e. for a service or retail business, in most cases the business entity is considered small if there is no more than $21 Million in annual revenue).

During our initial consultation, which is provided free of charge, we will assess your particular situation and give recommendations regarding what you need to develop before applying for a loan, or advise that you may already be in a favorable position to have a solid chance at obtaining a SBA loan. We will assist you with preparing an effective loan proposal and business plan, and locate a lender that will be able to meet your needs.

Please contact us for additional information on SBA Small Business Loan services.