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Sep 13, 2019
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How To Write A Business Plan For A Loan
A business plan is a written document that provides a complete overview of your business, including information about your business’s services, strategies, finances, and goals. All businesses should have a business plan, but a business plan is especially important when applying for a business loan.
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The Complete Guide To Understanding & Receiving The Research & Development Tax Credit
The amount of the R&D tax credit varies by a number of factors. Generally, a business should expect to receive 7% to 10% of qualified research and development expenses to be used toward federal tax liability.
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What SBA Disaster Loans Are & How To Qualify For One
The SBA Economic Injury Disaster Loan Program (EIDL) provides financial assistance to both small businesses and private, nonprofit organizations that are located in a declared disaster area. Coverage depends on the amount of economic injury sustained. That includes things that don’t cause property damage, such as COVID-19, but still result in a massive loss of demand due to circumstances beyond your control or that interrupt your ability to conduct business.
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How To Apply For An SBA Loan: A Complete Guide
If you have questions about completing your loan application, you can always ask your SBA-approved lender. If you haven’t yet found a lender to work with, SCORE is a great resource. This nonprofit organization provides resources and services including free business mentors that can help you through every step of the process.
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How Long Does It Take To Get An SBA Loan?
The SBA helps small businesses get low-cost funding for a variety of needs, but applying for an SBA loan can be time-consuming. How long does it really take to get an SBA loan? And how can you speed up the process? Find out in this article.
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SBA Loan Default: What Happens When You Default & What You Can Do About It
If you default on your SBA loan, you’ll be notified by the lender. If you’re unable to get on track with your loan, your lender may seize your assets. The lender will later reach out to the SBA to receive the guaranteed portion of the loan, and the SBA will contact you seeking payment. If payment isn’t received or an agreement isn’t made, the SBA will report the loan to the Treasury Department, which can take further action against you.
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How To Repay Your SBA Loan
Small business owners that navigate the complex and lengthy Small Business Administration loan process are rewarded with low-cost, long-term business funding. Now that the hard part is over, it’s not uncommon to have questions about what comes next, like repaying your loan.
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How To Check SBA Loan Status
SBA loans take longer to fund than other business loan types. SBA loan approval time varies depending on your lender and SBA loan type, but generally, the total time between application and funding is between two and three months.
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How To Get A Loan To Buy A Business: 6 Types Of Business Acquisition Loans
Buying a business can be an exciting and rewarding venture, but getting a loan to finance this purchase is tricky if you don’t have spotless credit or an already-established business. Fortunately, alternative lenders have made it easier for aspiring entrepreneurs to secure non-standard business loans, SBA loans, and other types of financing.
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