Financing

Blogs.Financing

Register

April is National Financial Capability Month

Comment Count:
21

Comments welcome on this page. See Rules of Conduct.

April is National Financial Capability Month

By bkline
Published: April 8, 2015 Updated: April 8, 2015

April is National Financial Capability Month!

According to the findings of a 2014 Intuit study, more than 40 percent of U.S. small businesses consider themselves financially illiterate. Yet, 81 percent handle their business’ finances. April is National Financial Capability Month, so now is a great time for small businesses and aspiring entrepreneurs to brush up on their financial literacy skills.

Whether you are a seasoned small business owner, a new small business owner or have dreams to be a future small business owner, it is inevitable that you will at some point have to deal with securing the capital to fund and/or expand your business venture.

There are several financing options to explore when funding a small business such as loans, grants, venture capital, angel investors and crowd funding, but most small businesses rely on lenders to obtain the capital needed to open a business or to finance capital improvements.

In addition to traditional bank loans, SBA has a variety of business loan programs you may want to consider. Regardless of the type of small business loan, there are several key factors that impact a lender’s decision — one being collateral.

Financial institutions approve small business loans with one goal — ensuring the initial funds will be recovered. In order to ensure repayment, lenders typically require a guarantee in the form of collateral. Collateral includes personal and business assets that can be sold in the event of defaulting to repay the initial loan.

An SBA loan guarantee is the amount of the loan that SBA will repay if borrowers default on loan payments. To qualify for an SBA-backed loan, all owners with a 20 percent stake or more must personally guarantee up to the full amount of the loan. The approximate values of collateral types are not based on market prices, but rather a percentage of the market value.

Can you qualify for an SBA guaranteed loan without putting up personal collateral?

Yes. If the forms of business collateral are equal to 100 percent of the loan, as a borrower, you won’t have to pledge personal assets. But often, the principal borrowers will need to put up worthwhile personal assets such as real estate. Keep in mind though that approval for an SBA guaranteed loan is not denied solely due to a lack of collateral — you may be approved based on other qualifying credit factors.

While some potential borrowers may be reluctant to pledge personal assets as collateral ­— and there is always an element of risk in any business venture — with more financial knowledge and skills, you’ll improve your chances of making a financially sound decision.

Are you part of the 69 percent of small business owners who have never accepted a loan for their small business? Check out this brief introduction to SBA Loan Guaranty programs and the steps involved in preparing your loan package.

And don’t forget that you can reach out to SBA’s local resources to get in-person help.  SCORE, Small Business Development Centers (SBDCs) and Women's Business Centers (WBCs), for example, provide financial packaging and lending assistance to entrepreneurs across the country. Find an office nearby by visiting SBA’s local resources page

Another resource is the Money Smart for Small Business curriculum. This curriculum is designed to provide the most essential information on running a small business from a financial standpoint.

 

About the Author:

Comments:

HOW I GET MY LOAN AMOUNT @ 2% INTEREST RATE --------------------------------------------------------- I became desperate getting a loan from a legit lender online. And i saw comments of different persons at different site that talked about this VICTORIA LAWSON Loan Company (victoriafinancier@outlook.com) where they got loan fast and easy without any stress and i follow their instruction using the details on their appreciation post, So i applied for a loan sum of ($120,000.00USD) @ 2% interest rate. The loan was approved and deposited into my bank account. That was how i Got to get my loan to refinance my business, pay off my bills and debt. I can't stop appreciating VICTORIA LAWSON Trust Loan Firm. I am advising everyone interested in getting a loan fast and easy to kindly contact VICTORIA LAWSON LOAN FIRM via email: { victoriafinancier@outlook.com } to get any kind of loan you need today. *Full Name:_________ *Address:_________ *Tell:_________ *loan amount:_________ *Loan duration:_________ *Country:_________ *Purpose of loan:_________ *Monthly Income:__________ *Occupation__________ *Next of kin:_________ *Email :_________
WELCOME TO KELVIN SHAW LOAN FIRM If you are in need of a loan to help your financial situation contact us with the below details. On google + Https://plus.google.com/106295749482674608738 Email: kelvinshawloanfirm@gmail.com website Https://kelvinshawloanfirm.wixsite.com/loan Telephone T: +1 732-847-2311 Waiting for your reply soon. Thank you Administration.
Business loan Offer at 3% Interest Rate. Are you a business man or woman? Are you in any financial stress? NEED MONEY to start your own business or improve your business finance, do you have a LOW INCOME and difficult to obtain loans from local banks and other financial institutions? Interested persons should contact us via: store_mutual@hotmail.com. We offer the following types of loans and many more; *Home Improvement *Inventor Loans *Car Loans *Debt Consolidation Loan *Line of Credit *Second Loan *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact us via e-mail: store_mutual@hotmail.com OR Text us your email address and we will get back to you with the loan application form. (315)-309-5179 Yours Sincerely, Ryan MD.
nic https://vpsgol.net https://ir-store.com/
Are you thinking of where to apply for a Loan? Think no Further as we have set up a financial home to reduce your stress and Hassles... Kindly Contact Us Via email for more details about our Loan Services... Contact Email: peterwilliams@caramail.com
HOW TO GET A FAST AND RELIABLE LOAN FROM A GENUINE LOAN COMPANY AT 3% INTEREST RATE. How i got my Desired Loan Amount from a Reliable Loan Company (BRANDON LOAN COMPANY) Are you looking for a business loan and have been denied by a bank, Brandon Loan Company can help with loans from $5,000.00 to the maximum amount $1,000,000.00 that can help you rebuild your business and get you back and put you on a path towards a better financial future. Just in time, you can apply in minutes and get your cash in 48Hrs. My name is Anderson, I am from the Ohio, United State, am here to testify of how i got my loan from BRANDON LOAN COMPANY after i applied two(2) times from various loan lenders who claimed that they will help me get a business loan, i thought their lending was real and i applied but they never gave me loan until a friend introduced me to BRANDON LOAN COMPANY, who promised to help me with a loan of my desire and they did as promised without any form of delay, I had doubts but i never seize to believe. I never thought there are still reliable loan lenders until i contacted this loan company were i got a loan of $75,000.00 which i used to expand my business. Be informed that this company is 100% genuine and customer's satisfaction is their greatest priority. Note all replies should be sent to the Company Email: brandonfunds@fastservice.com Phone Number: +1(315) 309-5179 SMS your email address for details. Sincerely, Mr. Meyer Nitt. Loan Officer / M.D
HOW TO GET A FAST AND RELIABLE LOAN FROM A GENUINE LOAN COMPANY AT 3% INTEREST RATE. How i got my Desired Loan Amount from a Reliable Loan Company (BRANDON LOAN COMPANY) Are you looking for a business loan and have been denied by a bank, Brandon Loan Company can help with loans from $5,000.00 to the maximum amount $1,000,000.00 that can help you rebuild your business and get you back and put you on a path towards a better financial future. Just in time, you can apply in minutes and get your cash in 48Hrs. My name is Anderson, I am from the Ohio, United State, am here to testify of how i got my loan from BRANDON LOAN COMPANY after i applied two(2) times from various loan lenders who claimed that they will help me get a business loan, i thought their lending was real and i applied but they never gave me loan until a friend introduced me to BRANDON LOAN COMPANY, who promised to help me with a loan of my desire and they did as promised without any form of delay, I had doubts but i never seize to believe. I never thought there are still reliable loan lenders until i contacted this loan company were i got a loan of $75,000.00 which i used to expand my business. Be informed that this company is 100% genuine and customer's satisfaction is their greatest priority. Note all replies should be sent to the Company Email: brandonfunds@fastservice.com Phone Number: +1(315) 309-5179 SMS your email address for details. Sincerely, Mr. Meyer Nitt. Loan Officer / M.D
DO YOU NEED A LOAN TO START A BEFITTING NEW YEAR!!!!!! Are you a business man or woman? Are you in any financial stress? Or do you need money to start your own business? Do you have a low credit score, and you will find it difficult to get loans from local banks and other financial institutions? solution to your financial problem is Dr. Carson Grant The Terms and Conditions are very simple and considerate.You will never regret any thing in this loan transaction because i will make you smile through out this transaction, because you where not born to be a loser Email (carsongrantloanhome@gmail.com) Our services include the following: * Personal Loans * Debt consolidation loans * Possibility * Business Loans * Education Loans * Mortgage * Home Loans We offer loans at 2% interest rate We offer loans to people in need of financial assistant with a low interest rate of 2%. In order to get a loan with this company, you can tell the exact amount of loan you need and the time in which you can pay back the loan. NOTE: You are required to email us on:(carsongrantloanhome@gmail.com)
Testimony of Restoration with the help of Martinez Lexie(Lexieloancompany@yahoo.com OR +18168926958).. I have been in financial mess for the past months, I'm a single mum with kids to look after. My name is Renee Joan Rothell, and am from Ridley Park, Pennsylvania. A couple of weeks ago My friend visited me and along our discussion she told me about Mr Martinez Lexie of ( Lexieloancompany@yahoo.com ); that he can help me out of my financial situation, I never believed cause I have spend so much money on different loan lenders who did nothing other than running away with my money. She advised, I gave it a try because she and some of her colleagues were rescued too by this Godsent lender with loans to revive their dying businesses and paying off bills. so I mailed him and explain all about my financial situation and therefore took me through the loan process which was very brief and easy.. After that my loan application worth 78,000.00 USD was granted, all i did was to follow the processing and be cooperative and today I am a proud business owner sharing the testimony of God-sent Lender. You can as well reach him through the Company website: http://lexieloans.bravesites.com OR text: +18168926958
HOW TO GET A FAST AND RELIABLE LOAN FROM A GENUINE LOAN COMPANY AT 3% INTEREST RATE. How i got my Desired Loan Amount from a Reliable Loan Company (BRANDON LOAN COMPANY) Hello everyone, My name is Seana Anderson, I am from the Ohio, United State, am here to testify of how i got my loan from BRANDON LOAN COMPANY after i applied two(2) times from various loan lenders who claimed that they will willhelp me get a business loan, i thought their lending was real and i applied but they never gave me loan until a friend introduced me to BRANDON LOAN COMPANY, who promised to help me with a loan of my desire and they did as promised without any form of delay, I had doubts but i never seize to believe. I never thought there are still reliable loan lenders until i contacted this loan company were i got a loan of $75,000.00 which i used to expand my business. Be informed that this company is 100% genuine and customer's satisfaction is our greatest priority. Note all replies should be sent to the Company Email: brandonfunds@fastservice.com Company Email Address: brandonfunds@fastservice.com Phone Number: +1(315) 309-5179 SMS ALLOWED call for details. Sincerely, Mr. Meyer Nitt. Loan Officer / C.E.O

Pages

Leave a Comment

You must be logged in to leave comments. If you already have an SBA.gov account, Log In to leave your comment.

New users, Register for a new account and join the conversation today!