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There are a lot of options for you. Visit our website at - businessmoneytoday.com or search for 'Business Money Today' - no cost to use our site - just information and resources to help you find the capital you need.
Big difference between SBA 7a and micro-loans. SBA loans are underwritten by a SBA lending bank which could be your local bank - thus you have to satisify their lending guidelines - then, the SBA, in order to guarantee the loan, will also have to sign off on your qualifications (it is like being underwritten twice). Micro-loans are usually provided by non-profit organizations. They usually help businesses that can not get traditional funding. They can lend up to $50K - but the average amount for a first loan is around $13K. If you pay back the $13K as agreed, then you can go back for larger amounts.
But, as stated, there are many other options for you - for more - visit our website.
Business Money Today
If you would like to email me we can discuss the options available. My contact info is in my profile.
I am interested to assist you. My name is Mike Christopher from Berkshire, you contact me via email@example.com
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I am trying to start my own healthcare business. I have met with SCORE and finished my business plan. But I was recently told that banks will not lend a SBA start up loan unless it is fully collateralized. I have decent credit ( low to mid 700's.) Has anybody seen any start-ups being funded without 100% collateralization recently ( in the las couple of weeks?)