SBA BUSINESS PLAN
Small Business Administration (SBA) is an independent agency of federal government that provides free individual face to face and internet counseling and also serve, support, and protects the interests of small businesses. Congress created SBA on July 30, 1953, which also provide educational resources to help the entrepreneur to manage the complexity of growing business and to maintain and strengthen the economy of the United States of America.
Objectives of SBA
SBA fulfills its mission by offering loans, loan guarantees, financial and contractual assistance, government contracts, and advocates on their behalf within the government. It also provides support to America’s small business, any business that is organized for profit and has a place for business in the United States and also provides support to counseling partners, and approximately 900 small business development centers in New York, Los Angeles, Florida, Michigan, Texas, Virginia, and other places of the USA. SBA has at least one office in each U.S. state and offers amenities to more than one million entrepreneurs and business owners every year. 99.7% of all U.S. firms are made from 28 million small businesses.
SBA has created standard for every private industry or company in the U.S. and employed more than 2000 people. It does not provide a direct loan to the entrepreneur for a startup business. But, instead SBA loan is made by partners with the bank, credit union and other lenders are partially guaranteed by the federal government to help finance of the small business. Our experienced Business Plan Writers can help you for SBA Business Plan and SBA Business Plan Template for your business. Please contact us for small business administration business plan for success.
Statistics of SBA
The business which is operated for profit and its net income is not exceeded from $2.5 million after taxes for the proceeding two years is eligible for SBA loan.
Maven Biz Plans guys understand the primary aim of U.S. small business administration is to sustain and fortify the U.S. economy by the establishment of small business, and by helping the recovery of the economy after a disaster. According to U.S. SBA, there are more than 30 million small businesses in the United States in which 47.8% of U.S. workers are employed. Since 1995, Small businesses have generated 65% of the new jobs, and 52% of all small businesses are home-based. All the small businesses have played an imperative role in thriving the U.S. economy through job creation and innovation.
SBA loan Industry
The percentage of U.S. Small Business Administration loans by type of business for the fiscal year 2018 shows the number of loans to the non-food service industry ahead by a wide margin in the Cleveland market, though manufacturing is gaining ground.
We know how The Federal Government agency provides SBA loan guarantees up to 85% of the loan amount through an SBA approved lender. It provides the most crucial and the most flexible loan program with financing guarantees for the variety of general business purposes. According to SBA, loan interest rates range from 6.5 to 9%, and the long repayment terms of SBA loan is from 7 years for working capital loan to 25 years real estate loan.
Why you need a Professional Business Plan for SBA loan approval?
A Maven Business Plan is an essential requirement for any business loan application, with our stats and pros of being in any business. Because it demonstrates that you have a clear roadmap for growth, financial data, and product strategy, a clear and comprehensive business plan will also help your lenders to matches you with the right loan program based on your needs, goals, and financial projections. It plays a vital functional role in your path to success.
It is vitally crucial for startup business has organized and professionally presented business plan. A reliable and comprehensive business plan shows potential lenders about how profitable your venture is well-defined in Los Angeles. A sound, detailed business plan is a fundamental requirement of all loan programs because a business plan has a complete set of the projected financial statement including profit and loss statement.
A healthy business plan will explain:
● The summary provides an overview of your business plan
● Description of the main objectives of your business
● Your targeted customer, market, and the competition
● Sales and market plans
● Projected income and flow sheet for the first few years
● An appendix provides a supporting document for your business plan
Why choose Maven Biz Plans?
If you never had to borrow money for a startup business or have taken the loan from several different lenders, the process can still be scary. Our team is experienced and dedicated to work with you from application to processing your loan. Our staff will help you to navigate the process of closing and to service your loan. Our experience and long term lender partnership and the award-winning team will help you to fulfill all your financing needs. We have helped dozens of businesses and they are pretty satisfied with our services.
Getting a loan is too much easy by taking our services. Our team will provide you with excellent customer services so that all the questions which come in your mind are answered quickly.