| Best Fit Financial LLC "Worth telling your best friend about" |
| Phone: 1-423-943-3938 Contact Us |
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| SBA Participation: Many borrowers hear about SBA loans, and there is much confusion in this arena. Simply put, banks make loans, and SBA offers different programs that assist the banks in approving these requests. The assistance comes from offering the bank an insurance policy of sorts referred to as a guaranty. The SBA does not make loans, except in some emergency times, like natural disasters, but works with banks instead. These transactions are usually in the amount of $5 million or less. When a bank looks at a loan request and determines the loan, as presented, is below the bank's normal approval standard, due to things such as time in business, few retained earnings or equity, business type or similar reasons, it may still consider the loan if it can get some protection of future loss by using the SBA programs. The funds can be used for purchase, refinance, construction, working capital, equipment, and even inventory. Since there are many SBA programs, you will find that banks may offer some, but not all program types, which is usually due to the bank's normal lending area and abilities or interest. We work with top professionals and high performing banks to get the job done with projects that need this financing option. You can go to www.sba.gov to learn more about available programs and their utilization. We would like to hear from you and get started on getting your business needs met. Call today! |