SBA Loans

[daviid]

Has anyone ever gone through this process? I have some stuff coming up where I'm going to need some heavy capital. I sent off a email to my banker but I'd like to have some stuff prepped for him when he calls me back.

[ThisBitch]

What business you in? I work in the venture capital field, might be able to help, but we do tech and life science.

[daviid]

wireless telecommunications

[RandyO]

Has anyone ever gone through this process?

completely thru, no, but I spun my wheels part of the way

unless there is a woman or minority owner/partner, your wasting your time IMHO

ya wanna know how I really feel

[9secondsflat]

sba does not do start ups...you must have full tax returns completed since day one as one of the starting points for consideration, if your reporting nothing but losses you can forget it...that is unless your name is Solindra.

[ThisBitch]

you're wrong and whiney.

[Speed Demon 828]

I just went through the process. You need your tax return for the previous year showing a profit. You can expect a loan in the amount of 15% of your total sales from the previous year. It helps if you are a veteran and you made a good amount of net profit. Make sure your business is licensed with the state and have the paperwork handy. That's pretty much it. The obvious thing is to go through your current bank when applying for the loan. I can't think of anything else except it took a long time from start to finish to complete the loan process.

oh, some other things, when filling out the questionaire don't say you're trying to consolidate expenses, say you're using it for inventory management or job creation. That will help.