Business Plan/SBA Loan Guide

The business plan needed for an SBA loan can be super simple.

Of course, I’d recommend a more comprehensive business plan for his own good, but the SBA requirements themselves are pretty basics.

Bankers make a big difference in this arena - get a good one and establish a lasting relationship.

They are 2% to 3.75% depending on loan size, but you can roll them into your loan, so that you’d only pay a fraction of that fee upfront.

Fees are waived right now (see below). I do a lot of sba loans but usually $250k and over. I have some micro loan lenders but start ups are tough but doable.

As someone said, business plans and projections can usually be pretty simple. They’re more or less a check mark to make sure the person has thought it through and has some type relevant experience etc. I’ve never seen a business plan that loses money lol.

Shoot me an email if you want - Lnobles@redstickag.com. Happy to try and help however I can.

For loans of $500,000 and less: 0.00%.
b) For loans of $500,001 to $5,000,000: 0.55% of the guaranteed portion of the outstanding balance of the loan.

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s there a good guide out there for business plans/SBA loans?

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What kind of business are we talking about?

I would do everything possible to try and not do an SBA loan. SBA loans are there for people that can’t get a loan another way, for the most part. They are an easier way to get a loan, easier loans are usually more expensive. But you also need to ask myself, why do I need this loan?

Getting a SBA imo often times allows an owner to put money down on things they shouldn’t. Gives you options you shouldn’t take.

Try and get a loan on the equipment and anything that has equity first. Bust it on everything else.