Is One Hundred percent Financing for Your Startup Business Possible with the SBA 7a Loan Program?

Is One Hundred percent Financing for Your Startup Business Possible with the SBA 7a Loan Program?

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Q: Hello! I've been researching financing options for my startup, and I came across the SBA 7(a) program. I'm intrigued by the idea of obtaining 100% financing for my business through this program. Is it really possible to secure full funding for my startup through the SBA 7(a) program? If so, what are the requirements and steps involved in achieving this? I would greatly appreciate any insights you can provide.

Thank you,
Jonas

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Timestamps:
(00:03) Question about the SBA 7A program for startup financing and the possibility of obtaining 100% funding.
(00:40) Banks may have overlays and usually prefer to see some "skin in the deal," but it's possible to structure the financing with a low down payment, like 3%.
(01:04) The SBA encourages banks to support smaller businesses, potentially allowing higher leverage, even up to 100% for startups. However, most banks still prefer some level of down payment.
(01:39) Advice to be well-prepared with a business plan, projections, and feasibility to get quick answers from potential lenders. Suggests booking a call for personalized assistance.

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