SBA Medical Practice Loans

December 14, 2009

SBA Loans for Medical Practice
SBA 7a loans are an excellent loan for physicians who need financing for any of the following:

medical practice purchase
medical building purchase
medical practice refinance
medical practice expansion
partner buyout of a medical practice
medical equipment financing

Advantages of the SBA 7a loan for Physicians:

Banks and lenders favor doctors since they are better credit risks than many other businesses and are [...]

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SBA 7a Loans

November 11, 2009

SBA 7a Loans
This blog is primarily about the SBA 504, but there is another SBA loan program that needs to be discussed - the SBA 7a loan.
At the moment, 7a loans are MUCH easier to qualify for than 504 loans and they are more flexible than the 504. 
SBA 7a loans can be used for “any legitimate business purpose” including:

real estate purchase
refinance
working capital
business debt [...]

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New (Much) Higher SBA 504 and SBA 7a Loan Limits

October 30, 2009

New (Much) Higher SBA 504 and 7a Loan Limits Proposed
Last week President Obama announced that his administration is seeking to raise the loan limits for both SBA 7a loans and SBA 504 loans.
His proposal would take the 7a loan limit from it’s current $2 million up to a rather hefty $5 million.  The 7a program [...]

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SBA Loan Fees About to Go Up

October 14, 2009

SBA Loan Fee ”Discount” About To Expire
If you are going to apply for an SBA 504 loan then you might want to act quickly because the reduced SBA loan fees are not going to last long.  
SBA loan fees were reduced with a subsidy through the Recovery Act, but when the subsidy is gone the fees go back to pre-Recovery [...]

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Incredibly Good Advice for Business Owners and Salespeople

October 7, 2009

Nothing related to small business loans in this post, but some fantastic advice from Sonia Simone…enjoy.
50 Things Your Customers Wish You New
Here are the Top 11…click the link below to see all 50:

I don’t need you to be perfect, but I do need to know I can rely on you.

Telling me what you don’t know [...]

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SBA 504 Interest Rate at All Time Low of 4.86%

October 6, 2009

Record Low SBA 504 Rates
The interest rate for SBA 504 loans has dipped to it’s lowest point ever of 4.86%*. 
The 504 loan is a 20 year fixed rate commercial second mortgage used for commercial property and equipment financing.
The program was enhanced earlier this year by the American Recovery and ReinvestmentAct (The ARRA) to include Green and Energy Efficient SBA loans for [...]

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Green 504 SBA Equipment Financing

September 19, 2009

Renewable Energy Equipment Financing
 
The SBA Green 504 loan program can be used for commercial real estate or equipment financing with maximum total project costs in the $12 to $14 million range, although larger projects are technically possible.  
 
Historically, the 504 program has been used for commercial real estate construction, but the Green 504 opens it up for the purchase of large solar or renewable [...]

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SBA 504 Loans - “True or False” Part 1

September 11, 2009

There are numerous misconceptions about SBA 504 loans.  Here are 5 biggies in True or False format:
1. You can only get an SBA loan if you can’t qualify for a “regular” loan
FALSE: SBA has what is called a “credit elswhere test” which states that if a borrower cannot get better terms “elsewhere” they are eligible.  Since [...]

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Clean Energy Tax Credit - More Power for Small & Mid-Sized Business

August 18, 2009

The US Dept of Energy and the US Treasury have just announced a $2.3 billion tax credit program for green energy equipment manufacturers.
The program provides a 30% “investment tax credit” for companies producing renewable energy equipment and it should be a big help to manufacturers of the following types of equipment: 

Solar

Wind

Geothermal energy equipment

Batteries

Fuel cells

Micro-turbines

Electric car components

Materials [...]

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Green 504 Loan: No Jobs Required

August 10, 2009

SBA 504 Loans Do Not Always Require You To Create Jobs
Whoa…what?  Isn’t the 504 loan program a “Job Creation” program?
Well, actually…yes…but, like most things, there are exceptions. 
Many business owners haven’t heard of the SBA 504 program, or if they have, they’ve only learned of it recently since it is one of the only viable commercial loan programs available [...]

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