Here are the major criteria to help you determine if your
business can get financing:
 
Personal: 

•  Your personal credit score from all three bureaus (go to  www.annualcreditreport.com  for your free annual credit report each year)
•  Your revolving debt ratio 
•  Any major derogatories like a bankruptcy (that is not charged off) or foreclosure Equity in real estate
•  Balances in checking, savings, brokerage, and retirement accounts
•Outside sources of income
 
Business:

• How many years in business (and entity structure like LLC or  corporation)?
• Annual gross sales for the  business
• Annual profits for the  business
• A business plan
• Historic Financials
• Monthly VISA/MASTERCARD sales
• Do you have any accounts receivable?
• Do you have equipment paid for?
• Business credit score and rating
• The number of vendors reporting to the business credit
bureaus
 
The first step to determine if your business is fundable is to evaluate the above criteria that pertain to you and your business at the current time.
 
If your business is very fundable, the second step is to  determine what types of financing would be best in your situation to start or grow your business? 
 
If your business is NOT fundable currently, the next step is to  determine what you need to change, and in what time frame, in order for your  business to become more FUNDABLE? 
 
The final step is to determine the right sources for the right type of funding for your business.

The best way to find out whether you can get funding is to schedule a free 30-minute Fundability Check-Up to determine your Funding Index.

Complete the Fundability Request form and one of our funding experts will contact you to schedule your Fundability  Check-up.

 

Small Business Adminstration 504 Debenture Loan Rates For January 2012
 
20 Year Fixed      4.950%
 
Special Refinance Program Rate 
20  Year Fixed      5.153%
 
10  Year Debenture rates are set bi-monthly. The next 10-Year rate will be available in February.
 
The SBA's temporary refinance program ends in September 2012. If you have a maturing property in your portfolio that may have diminished value or other challenges keeping you from refinancing the loan, please contact us to see if the loan is eligible for this loan program.

Remember:
Property must be at least 51% owner occupied.
The original use of loan funds must be for 504 eligible purposes.

The loan must be current with no delinquencies for the last 12 months.