Merchant Loan Or SBA Loan?

Merchant Loan Or SBA Loan?

wealthwithcharles.mymoneymakingsecretsonline.com Join Charles http twitter.com SBA new ARC program, what small business owners need to do to qualify for 000 from the SBA program .One week before its emergency loan program is slated to launch, the Small Business Administration issued guidelines for banks and borrowers on how the new loans will work. Borrowers can use ARC loans to make payments for up to six months on their existing debt, with no repayment due on the loan for another year. After that, the business has five years to pay back the loan principal. The government covers the interest payments. Contact 404-419-2119 www.barthelemyenterprises.com

http://leafgardenpress.com/ SBA GUIDELINES FOR 000 for Small Business Loans

Based upon that conclusion, FEMA may provide the PNP with a Public Assistance reimbursement grant for their eligible costs or refer the PNP to SBA for disaster loan assistance. PNP organizations may borrow up to $ 2 million to ... The SBA may increase a ... Additional Counties Eligible for SBA Disaster Assistance for Private Non ...

The recession has sent many small business owners on a rollercoaster ride when it comes to securing funds for their businesses. First, in 2008, small business owners saw bank lending standards tighten dramatically, making it almost impossible to get a bank business loan.

Recently, laws were passed to regulate consumer credit providers, in attempt to decrease consumer debt. Unfortunately, many credit card companies raised rates on business credit cards to compensate. As a result, some merchants were forced to close their credit cards while others had their lines of credit taken away from them.

During this financially turbulent time, merchant loans have always been available for small business owners who operate retail and/or service-oriented businesses. However, recently, the Small Business Administration has introduced a new loan program and made some changes to an existing loan program, in order to make it easier for merchants to gain access to business funds.

Small business owners must now decide which method(s) best suit their businesses.

One new program that the SBA has introduced is the ARC loan program (America's Recovery Capital), in which struggling small businesses can receive up to $ 35,000 to be used to pay off existing debt. The SBA has also revised its 504 loan program, previously only allotted to small business owners who "...sought new loans to buy real estate, upgrade machinery and make improvements," (Wall Street Journal). Now, the loans may be used by borrowers who want to "...refinance their existing SBA-backed loans as long as the amount is 50% or less than the total cost of expansion," (Wall Street Journal).

Merchant loans, however, allow business owners the opportunity to receive up to $ 500,000 in easy, unsecured business funds.

These funds are suitable for merchants who've owned their businesses for at least six months and process at least $ 3,500 in monthly credit card sales. The advance is then repaid via a small percentage that is deducted from the business's daily credit card sales.

Merchants can visit the SBA website to learn more about these loans and determine if they are a good fit for their businesses. Merchants can also visit merchant loan websites to get a free quote and to learn more about them and whether they would work best for their businesses.

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Question by : I would like to start a business development company for small businesses? Any Advice? I am a college senior in Atlanta, GA finishing up two bachelors degrees, one in Business Economics and the other in Managerial Sciences. I have about 6 years of working in small businesses (e.g. event planning firms, real estate firms and vacant property security companies). In every company that I have worked for I have been very successful in establishing the administrative component of the company, document creation and some marketing material as well. HOWEVER, the people that own the firms typically have very little knowledge on how to maintain business development, and no interest in taking advice from a 21 year old. Which results in dead phone lines and me looking for more work. So upon graduating,I would really like to start my own business development company to help small business owners. Obviously I am well aware of the Small Business Association and what they do, so in no way am I trying to rival the government. I was actually thinking along the lines of assisting small business owners in the application process for SBA loans/grants. I have a few other ideas that have just popped up since I started thinking about it: -business proposal composition for bank loans -help in securing office space (because I have real-estate contacts through previous employment) -educational seminars on surviving a changing market -general business development, like help in the start up, growth and after maturity phases -marketing/advertising esp. grand openings -office structure and organization -help with hiring the right employees Ok, I know that a WHOLE lot, and more than likely wont happen in the first few years of getting it off of the ground, Its the long term goal. I have work samples, before and after photos, can get testimonies from past employers and a small savings account. Soooooooooooooooooooooooo, how do I make this happen??? Any and all serious help is greatly appreciated it. P.S. NOT INTERESTED in any get rich quick schemes/ideas...I cant stand those infomercials/books that promise people they can be trillionaires in 3 months. So please, save it. Thats just the type of business structure that I want to avoid if not combat. Best answer for I would like to start a business development company for small businesses? Any Advice?:

Answer by Henry
Go to http://www.score.org/mentors and enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a volunteer SCORE mentor. They will guide you through the process and you can meet with them as many times as you need to. SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide and is a resource partner with the U.S. Small Business Administration (SBA). SCORE has 350 chapters in locations throughout the United States and its territories, with 13,000 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business mentors.

Answer by Apollenaire
It would seem you need your own services. First, develop business proposal composition for bank loans. Second, your general business development should kick in, which will help in the start up, growth and maturity phases. I think the real question you need to answer is if you went to school for this and have 6 years experience and, I assume, have a way to speak to your former professors, why are you posing this question on yahoo?

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