Guaranteed Business Loan

Guaranteed business loan is one of the loan from various loan packages insured by federal government through SBA (Small Business Administration). There are 3 main benefits from the loan :-

1) Low interest rate

2) Fixed rate option, enable borrower to manage the debt easier.

3) The requirement of down payment is very low.

In order to get the loan, business plan play a very important role in the process. To prevent writing a wrong business plan, you must

1) Visit the SBA website, review the plan structure from "Small Business Planner". Follow the guide and make it according to the requirements of SBA. If you are not confident to prepare it by your own, engage a professional business plan writer to helps you. There are many forms provided by SBA website, you must fill in the form prior to submit your business plan. They might ask for additional information pertaining to your business.

2) The most important resources of the plan are marketing and financial research. Clearly stated your projected income and expenses. Define your projected income for the following 3 years.

3) Show your experience and abilities regarding to your business into the business plan. If you lack of experience or do not have, bringing a partner who have such experience.

4) Use SBA service center to refine your plan, any comments and criticism will increase the chances of getting the loan. Optimize the plan and resubmit again.

5) After submission all relevant documents, now is await the lender to go through the loan process. At the moment, lender might call you up for some question, so be alert of your phone call.

For more advice, please check out guaranteed small business loans or check out Business Loan Guide instead of Guaranteed Business Loan

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