As of May 31, 2010, the SBA has approved $10,157,923,000 in 7(a) loans compared to $4,998,225,000 through the same period last year.
Average loan size was just over $258,000.
Currently, the maximum SBA 7(a) loan is $2,000,0000.
The SBA definition of a small business is net profits after taxes less than $3,000,000 and the net worth of the company less than $8,500,000.
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About Me
- Jim Ely the sbapro
- Jim Ely has been doing SBA loans since 1984 when he began working at Stultz Financial.
Index to what's here
- Current rates (125)
- SBA loan basics for borrowers (13)
- SBA weekly lending update (124)
- self-storage (7)
- tip of the week (240)
Questions?
Loan Application
To apply for a SBA loan, you will need to provide:
1) Your personal financial statement
2) Your business and personal tax returns last three years
3) A current balance sheet and income statement for your business
That's enough to let you know if you are pre-qualified for a SBA loan.
1) Your personal financial statement
2) Your business and personal tax returns last three years
3) A current balance sheet and income statement for your business
That's enough to let you know if you are pre-qualified for a SBA loan.
We are paid by the lender!
Blog Archive
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2010
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June
(15)
- SBA 7(a) Weekly Lending Update- SBA loans fall off...
- The SBA and surcease
- SBA 7(a) Rate Update
- Moody's: Commercial Real Estate Prices increase 1....
- The SBA and ending the recession ONE LOAN AT A TIME
- Senate rejects "Tax Extenders" bill, including SBA...
- SBA 7(a) Rate Update
- SBA 7(a) Weekly Lending Update
- When will the Fed raise rates?
- The SBA and vellicate
- SBA 7(a) Weekly Lending Update
- The SBA and ending the recession ONE LOAN AT A TIME
- SBA 7(a) Rate Update
- SBA 7(a) Weekly Lending Update
- The SBA and pretermit
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June
(15)