Startup
Home Up Startup Real Estate Existing Acquisition

 

Start-up Loans

Please note that our minimum loan requirement is $250,000.

While many commercial banks shun loans for start-up operations it is the SBA's mission to assist such ventures and to help grown the number of successful small businesses in the United States.

When it comes to Start-Ups, there are several requirements for qualification:

The borrower must have experience in the line of business;
The borrower's cash injection must be at least 33% of the total project cost; and
The borrower must provide some collateral for the loan portion of the total project cost.

Business start-up loan funds can be used for the following:

Building;
Building improvements;
Machinery and Equipment;
Furniture and Fixtures;
Inventory; and
Working capital.

The SBA terms for a start-up loan vary according to use of funds and my be blended.

Key Benefits

Fully Amortized Term -- Blended based on use of funds
No Prepayment Penalties
No Balloon Payments

Application Form

Please fill out the following Application Form and submit to us.  We will determine loan feasibility within 24 hours.  If it looks good we will submit the request to our lenders and let you know within a week.

We suggest that you print this form prior to filling it out so that you can collect necessary information before you begin.  We know this form is detailed, but this is the information necessary to determine your loan qualification, so please stick with it.

Important Note:

We share information submitted to us only with banks we represent and only in accordance with strict internal security standards, confidentiality polices and applicable laws. We do not share client information with other companies except in order to conduct our business, comply with applicable law, and to protect against fraud. For privacy and security reasons, we do not keep any information you submit to us tied to the Web. All such information is stored in our corporate computer files which are off line and only accessible to SBA e-loans personnel.

Note that you can <tab> from field to field.

Business Data

Applicant Borrower Name:
Applicant Business Name:
Type of Business
Is it a Franchise? yes  no
Name of Franchise
Do you have experience in this line of business? yes no
Please give details:
How is the business to be organized?

Loan Request

Total Start-Up Cost
(less) Your Cash Injection
(less) Other Financing
Total Loan Amount Requested

Real Estate Information (Fill out only If the Start-Up Cost includes Real Estate Acquisition, Improvement or Addition)

Property Size and Business Use (indicate total square footage after any addition):

Please indicate property size in sq.ft.
Please indicate business use in sq.ft.

Purchase of Existing Property Details

Property Purchase Price
Any Improvement Costs
Any Addition Costs

Construction of New Property Details

Land Cost
Construction Cost

Collateral

Do you have collateral to offer? yes  no
Please Describe:
Can you offer Real Estate collateral? Yes  No
Please provide details, including any equity:

Lease Information

Term of any Business Facility Lease years
Years Remaining on such Facility Lease years

Principal Owner Personal and Financial Data

Who will be the principal owner of the new business, and at what ownership percentage?

Name:   %:

Financials

Personal Assets Value/Balance
Cash (checking, savings, escrow) before any cash injection into current project
IRA & Other Retirement Accounts
Notes Receivable
Life Insurance (cash surrender value only)
Stocks and Bonds
Autos

Real Estate

IImportant Note:  We use the annual payments/expenses you enter below to calculate how much you need to draw from the business, so take care to ensure that these figures are accurate.  They must be verified before final loan approval.  Enter as Annual amounts.

Item Property 1 Property 2 Property 3 Property 4
Type of Property
Street Address
Property Value
Current Loan Balance
Annual Loan Payments
Loan Status
Annual Property Tax
Annual Property Insurance
Any Other Annual Expenses

Important Note:  We use the annual payments you enter below to calculate how much you need to draw from the business, so take care to ensure that these figures are accurate.  They must be verified before final loan approval.  Enter as Annual amounts.  If your are married, please enter combined household payments/expenses.

Personal Liabilities Current Balance Annual Payments
Accounts Payable
Non-Real Estate Notes/Loans Payable*
Car Loans
Car Leases
Tax Payable
Living Expenses, including food, utilities, etc.

*Real Estate is covered separately above.

Personal Residence

Do you own or rent your residence? 

If you rent, what is your Annual rent? 

Other Personal Income Sources

Important Note:  We use the annual income from other sources you enter below to calculate how much you need to draw from the applicant business, so take care to ensure that these figures are accurate.  They must be verified before final loan approval.  Enter as Annual amounts.

Any Annual Salary/Draw from Other Businesses
Any Annual Real Estate/Rental Income
Any Annual Spouse Salary
Any Annual Interest & Dividend
Any Annual Other Income (please describe below)

Please describe any Other Income:

Other Necessary Draw from Applicant Business

Are there other owners that need to draw salary from the applicant business?  If so, what is the total Annual amount to be drawn?  

Other U.S. Small Business Administration Related Questions:

What is your position with applicant business?

Are you a U.S. Citizen?  Yes No

If No, are you a Legal Resident?  Yes No

Do you own or have controlling interest in any other business?  Yes No

If Yes, please provide detail:

Name of Busines Last Year's Annual Sales Number of Employees

Have you ever been involved in bankruptcy or insolvency proceedings?  Yes No

If Yes, please provide detail:

Are you involved in any pending lawsuits?   Yes No

If Yes, please provide detail:

Do your or your spouse or any member of your household, or anyone who owns, manages, or directs your business or their spouses or members of their households work for the Small Business Administration, Small Business Advisory Council, SCORE or ACE, any Federal Agency, or the participating lender?  Yes No

If Yes, please provide name and address of the person and the office where they are employed:

Are you presently under indictment, on parole or probation?   Yes No

If Yes, please provide detail:

Have you ever been charged wth or arrested for any criminal offense other than a minor vechicle violation?  Yes No

If Yes, please provide detail:

Have you ever been convicted for any criminal offence other than a minor vechicle violation?  Yes No

If Yes, please provide detail:

Your Contact Information

Name
Title
Company
City   State Zip
E-mail
Phone
Thank you very much for sticking with it.  Now, please press Submit.  The form may come back to prompt for and return you to any missing fields, or fields with incorrect type of data.  If so, please correct, then press Submit again.