HOME   |   CONTACT   |   MY BUSINESS TOOLS    Facebook Twitter LinkedIn Subscribe to MBDA Newsletter Subscribe to our syndicated RSS news feed

You are hereHome > Loan Packaging

Loan Packaging

  • Business Loan Application Checklist
    Submitted on 20 June 2012

    Credit AgreementState and local economic-development agencies – and numerous nonprofit organizations – provide low-interest loans to small business owners who may not qualify for traditional commercial loans.

    When it comes to applying for these loans, the good news is that most of these other lenders require the same kinds of information. Of course, each loan program has specific forms you need to fill out. But for the most part, you’ll need to submit the same types of documentation. So it’s a good idea to gather what you’ll need before you even start the application process.

    Here are the typical items required for any small business loan application:

    Loan Application Form

    Forms vary by program and lending institution, but they all ask for the same information. You should be prepared to answer the following questions. It’s a good idea to have this information prepared before you fill out the application:

    Read Full Story >>
  • Determining Your Financing Needs
    Submitted on 20 June 2012

    ROIBefore you seek financial assistance, you should thoroughly assess your current financial situation. Ask yourself the following questions to determine your business' financing needs:

    Do you need more capital or can you manage the existing cash flow?

    If you are having trouble paying your obligations on time, you may need an infusion of working capital.

    What is the nature of your need?

    Do you need money to start or expand your business or as a cushion against risk?

    How urgent is your need?

    Whenever possible, it's better to anticipate your needs rather than looking for money under pressure. It is harder to gain approval for a loan when your company is already in trouble, so plan ahead and secure financing well in advance of a crisis.

    How great are your risks?

    All businesses carry risk, and the degree of risk will affect both the cost of your loan and available financing alternatives.

    In what state of development is your business?

    Needs are generally more critical during transitional stages - start-up and expansion being two of the most urgent and costly.

    Read Full Story >>
  • Small Business Lending Rises in 4th Quarter 2011
    Submitted on 01 May 2012

    Institutions participating in the Small Business Lending Fund significantly increased small business lending in the 4th quarter of 2011 by $1.3 billion over the 3rd quarter—for a total of $4.8 billion over their baseline. A substantial majority of SBLF participants have now increased their small business lending by 10% or more.

    Read Full Story >>
  • Jobs Act Loan Incentives Led to Record SBA Loan Approval Volume
    Submitted on 14 October 2011

    SBA Announces Record Loan Approval Volume in FY 2011 - Supporting Over $30 billion in Small Business Lending

    Record $12 billion 1st Quarter Followed By Return to Pre-Recession Levels

    Spurred in part by unprecedented loan volume in the year’s first quarter, small business loans backed by the U.S. Small Business Administration in FY2011 reached the highest mark in the agency’s history, supporting over $30 billion, continuing the rebound begun in 2009 and returning to healthy pre-recession levels in the final three quarters of the year.

    Read Full Story >>
  • Research on Banking and Financing, including Credit, Debt, and Micro Lending
    Submitted on 15 September 2011

    Small businesses borrow for four principal reasons: starting a business, purchasing inventory, expanding, and strengthening the firm’s financials.

     “Small business owners across the country tell me that access to capital remains one of their central concerns,” said Chief Counsel for Advocacy Winslow Sargeant. “The research we are releasing today will add to the understanding of small business financing needs and sources, and will inform policymakers seeking to strengthen the productive small business sector.”

    The Finance FAQ is replete with data about where small businesses obtain their financing, including 15 graphs showing types of startup and expansion financing, as well as trends in bank lending, interest rates, venture capital, initial public offerings, SBIC funding, and SBA loans.
     

    Read Full Story >>
  • 100 Non-Profits Get SBA PRIME Grants to Help Smaller Businesses
    Submitted on 15 September 2011

    One hundred nonprofit organizations from 44 states and the District of Columbia received grants under the Program for Investment in Microentrepreneurs Act (PRIME), the U. S. Small Business Administration announced today. 

    Grants will be used to provide business-based training and technical assistance to low-income and very low-income entrepreneurs to help them start, operate, or grow a small business.  Grants will also be used to better equip community-based nonprofit organizations to provide training. 

    Read Full Story >>
  • SBA Names 20 Community Lenders for New Loan Pilot
    Submitted on 08 August 2011

    Startups, newly established and growing small businesses now have a new source of financing backed by the U.S. Small Business Administration as 20 community organizations have been funded by SBA to start making loans up to $200,000 to qualifying small businesses.

    Authorized under the Small Business Jobs Act of 2010, the new Intermediary Lending Pilot Program will provide direct loans up to $1 million to 20 community organizations or intermediaries in fiscal year 2011, which in turn will use those funds to help finance small businesses, mostly in underserved markets.

    Read Full Story >>
  • SBA Approves First Six Lenders for Community Advantage Pilot Program
    Submitted on 02 May 2011

    The U.S. Small Business Administration has approved an initial group of six community-based, mission-focused lenders to start accepting and processing Community Advantage loan applications from small business borrowers immediately, the agency announced today.

    Read Full Story >>
  • SBA Lending Initiatives for Underserved Communities Launches Today
    Submitted on 15 February 2011

    Lenders who participate in the U.S. Small Business Administration’s Preferred Lender Program can approve loans through the agency’s new Small Loan Advantage program beginning Feb. 15. At the same time, the agency will begin accepting applications from community-based, mission-focused lenders who are interested in making SBA-guaranteed loans through the new Community Advantage program.

    Both the Small Loan Advantage and Community Advantage programs were announced in December as part of the agency’s efforts to increase the number of lower dollar loans being made to small businesses and entrepreneurs in underserved communities.

    Read Full Story >>
  • Bankrate's Simple Loan Calculator
    Submitted on 06 August 2010

     

    Use Bankrate's Simple Loan Calculator

     
    Loan Calculator

    Free loan calculator by Bankrate.com

     

    Calculators for mortgage, retirement, investing, car loans, credit cards and refinancing are available at bankrate.com.

    Read Full Story >>

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

Blog Topics


Archives by Date

more...
LEARN MORE ABOUT MBDA »

Upcoming Events

[Within 90 days]
02/19/2013 - 9:00am - 11:00am
Business Opportunities in Hong Kong Webinar
02/19/2013 - 2:00pm - 3:00pm
Direct Line: Doing Business in Trinidad and Tobago: Islands of Opportunity
02/20/2013 - 2:00pm - 3:15pm
Webinar: What you Need to Know to Finance Hotels & Motels in 2013
02/21/2013 - 3:00pm - 4:00pm
MBDA Webinar: Access Resources to help your Business
02/26/2013 (All day) - 02/28/2013 (All day)
AFCEA Homeland Security Conference

MBDA Social Network

What MBDA Does

Facebook Twitter Subscribe to MBDA Newsletter Subscribe to our syndicated RSS news feed