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Five Reasons to Take a Closer Look at SBA Loans

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
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  Article Summary  
Even with improvements in the business credit environment over the last several months, it can still be challenging for Los Angeles and Southern California businesses to secure financing needed to support growth and working capital requirements.

This is especially true for start-ups and credit-challenged companies - for example, those that are dealing with financial difficulties and cash flow challenges (even if temporary) that make them unattractive to a bank from a risk perspective.

Because the U.S. Small Business Administration guarantees repayment of a portion of loan proceeds thereby reducing underwriting risk, companies with credit challenges, start-ups, and now a broader range of small businesses may be able to secure financing through SBA loans.

This article looks at enhancements to the most popular SBA loan programs - including the SBA 504 program - generated by the Small Business Jobs and Credit Act. Reviewed are specific areas that illustrate broadened eligibility and process streamlining. Also identified are the elements that should be included in an SBA loan application.

Los Angeles and Southern California executives in need of financing should take a close look at SBA loan programs as legislative enhancements to the most popular ones have expanded their appeal. An outsourced CFO services provider can help you determine the right SBA loan program for your needs, as well as offer assistance in preparing your SBA loan application package.

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