SBA Loan

The U.S. Small Business Administration (www.sba.gov) has a number of programs for business owners including many designed to help businesses obtain debt financing. The SBA provides loan guarantees for its lending partners, which is intended to eliminate some of the risk for the lending partner, and does not make loans directly.

There are a number of SBA loan guarantee programs, each with specific guidelines established by the SBA. The SBA lender partner, typically a bank, then structures a commercial loan according to SBA requirements, in order to qualify for the SBA guarantee.

Power Funding through its lender network can help you obtain an SBA Loan for your business.

Power Funding’s financing solutions can also help you obtain an SBA loan, compliment your SBA Loan or act as your financing if you are unable to successfully obtain an SBA loan.

BELOW IS A COMPARISON OF AN SBA LOAN AND A LOAN FROM POWER FUNDING:

Feature

SBA Loan

Power Funding
Business Owner Needs To Have
  • A Resume.
  • Extensive documents including a sound business plan with extensive projected financial statements.
  • Strong personal credit.
  • Does not need immediate access to funds.
  • In depth loan application.
  • Possesses strong cash flow.
  • Needs timely access to capital.
Necessary Documents
  • Income statements and business balance sheets for past 3 years.
  • Projected balance sheets and income statements for two years.
  • Projected cash flow statements for at least the next 12 month
  • Personal and business tax returns for the last 3 years.
  • Accounts receivable aging report.
  • Various legal documents.
  • The Previous 3 months of credit card statements (only if you are applying for a MCA).
  • The Previous 4 months of bank statements
Average Application Time
 2-3 months Decision within 48hrs Funding within 7 days
Payment Structure
 Manual monthly payments. Daily and automated