SBA Financing: How to Secure a Loan for Your Startup Business

SBA Financing: How to Secure a Loan for Your Startup BusinessShow more

SBA 7a Startup Financing Explained! 💡💰
🎬 In our latest episode, @BeauEckstein had a chat with a woman who wanted to know more about SBA financing for her startup. Here are the key takeaways and insights you need to know:
1️⃣ Collateral Shortfall: If you don't have enough collateral, extra collateral may be required - like a lien on a rental property. It's critical to assess your assets before applying for a loan. 💼
2️⃣ Risking Life Savings: Worried about putting your hard-earned savings at stake? A detailed business plan with feasibility and projections can help banks make a fair evaluation of your startup's potential. 🔍💡
3️⃣ Loan Proceeds: Banks usually limit loan proceeds to 80-85% of the total project costs for startups. Keep this in mind while planning your financing. 💸
4️⃣ SBA Loans: Designed to give small businesses the boost they need, SBA loans are a great option for startups. Explore this avenue to kickstart your dreams! 🚀
5️⃣ Personal Guidance: Need a deep dive into the loan process and want to understand how banks assess startup businesses? @BeauEckstein offers personalized calls to guide you through the SBA financing maze. 🗣️💼
6️⃣ Real-Life Example: @BeauEckstein shares his experience planning a venture in the education space, with estimated costs of $800k. He understands the challenges and can relate! ✍️
7️⃣ Credibility Matters: Good credit, homeownership, steady work history, and relevant experience boost your chances of securing an SBA loan. Prove to the banks you've got what it takes! 💪💼
8️⃣ Seeking Clarity: Still have questions about the loan process? Wondering how it all works? Listen in as @BeauEckstein and his guest, Bill Davis, demystify the SBA financing journey. 🎙️🔍

Ready to turn your startup dreams into reality? Explore SBA financing options, get expert guidance, and fuel your business's upward trajectory. Happy entrepreneuring! 🌟🚀
#SBA #StartupFinancing #SmallBusiness #Entrepreneurship

Are you a real estate investor or business owner looking to expand? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble

💥 Thanks for watching 💥

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.

About the Channel: Want to structure your investments in the right and secure way?

Learn great insights and make the right decisions through the Investor Financing Podcast hosted by Beau Eckstein.