Hard Money Loans

Training & Busines Plan Assistance Government/State/City Organizations New York City Department of Small Business Services www.nyc.gov/sbs Empire State Development Corporation www.nylovessmallbiz.com 1-800-782-8369 Minority Business Development Agency www.mbda.gov 1-888-324-1551 SCORE www.score.org phone: 1-800-634-0245 Small Business Administration (SBA) www.sba.gov phone: 1-800-8-ASK-SBA or 202-205-7064 Small Business Development Centers (SBDC) www.sba.gov/sbdc phone: 1-800-8-ASK-SBA or 202-205-7064 Women Business Center (WBC) [...]

The 504 Loan Program provides financing for long-term major fixed assets at a fixed rate. It is offered through a Certified Development Company. A CDC is a non-profit corporation that works with the SBA and private lenders to provide capital for small entrepreneurs. The deals have the following structure: a private lender with a senior [...]

The recent credit crunch has caused banks and other traditional lenders to tighten their underwriting standards. Financing for start-up and small businesses has become more difficult to obtain. Now, more than ever, entrepreneurs have to be a little creative in seeking financing. If you are a business seeking financing here are few sources that may [...]

An SBA business loan is a debt instrument provided by you to by a lending institution that has been guaranteed by the United States government through the Small Business Administration. Many entrepreneurs wrongly think that it is the federal government that grants the loan. This is not the case. With an SBA loan, the government [...]

This is a very complicated issue with many contributing factors: Some of the issues are net worth, income, spousal income, protected retirement investments, family, basic overhead, secured debt, other assets, other business interests, medical issues, education, age, where you love, what the assets in your business are worth, structure of the offer, and previous income history to name a few. There are just as many more not listed as each case is unique and each case requires a unique evaluation and presentation. Each case requires its own special evaluation.

Many business owner and other professionals in the commercial mortgage industry are surprised to learn that the SBA does allow refinances through the 7a program and their rate does not have to float. In terms of what situations qualify for the refinance, it boils down to taking borrowers out of a difficult situation. For example, if the borrower is in a hard money loan they’ll qualify.

In these troubled economic times, the question is whether any bank or financial institution is making loans to small businesses. This article we will discuss what loans are available in light of the new Stimulus Bill as to the creation of a secondary market.

In order to give a boost to the spirit of entrepreneurship of its citizens, the federal government provides business loans to individuals to help them start a small business. The governments Small Business Administration (SBA) handles these loans usually by acting as a guarantor for loans provided by other institutions. In rare cases, the loan is provided directly by the SBA.

SBA 7a loans have been all over the TV, papers and internet lately. Though this is the most popular program for the SBA it general resides under the radar and very few people know what it really is and what the real benefits of the program are. The current hype is largely due to the Stimulus Package, but what is the program really all about?

Currently we are seeing decline rates at, literally 90%, from banks here in Michigan. Meaning that 90% of all commercial loan request that come in the banks doors are being turned down. 50% – 60% of these potential commercial mortgages probably make sense from a traditional underwriting perspective, but the banks are not willing to take the chance as loses continue to rack up and take their toll.