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    1 Reply Latest reply on Jul 29, 2009 5:16 PM by phanio

    Looking for SBA advice

    taloola Newbie
      Hi. I am a Florida resident who wants to open a bakery. I have a detailed business plan and loan proposal ready for review. I am having trouble getting start up funding because I do not have collateral. I researched the SBA and have noticed that until the end of the year they are guaranteeing loans up to 90% but the problem is the banks are not accepting these programs.

      Any advice would be greatly appreciated.

        • Re: Looking for SBA advice
          phanio Pioneer
          Keep shopping around for other banks. Since the SBA programs were revamped last month - many banks who were not SBA lenders in the past have now added these programs to their offerings. I would suggest looking at smaller local banks or regional banks - banks that might not have gotten caught up in the mortgage mess. Just keep searching. Call every bank within a 100 miles of where you want to operate. First question to ask is if they offer SBA loans.

          You might also be able to find a list of SBA lenders on the SBA's website.

          If all of that fails, there are many other lenders that offer SBA loans - a simple web search should provide you with a robust list.

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