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Can I be eligible for a government grant?

In reality, despite the hype of the Obama Administration grants, your chances of getting business loans from the federal government are slim. Don't fall prey to the scam artists selling "government grant kits" promising you easy money! Bear in mind that starting and expanding businesses are not given grants by the federal government. Grants from the federal government are only given to non-commercial groups and/or non-profit and educational institutions or for research and development in areas like education, medicine, scientific research and energy efficient technologies. Also, these grants are not actually free money, and usually require the recipient to match funds or combine the grant with other types of financing such as a loan! Don't be mislead by outrageous claims for "free money" - come to Global Financial Services for expert service on obtaining a business loan for your company.

How long does it take to get a business loan?

The amount of time differs based on the amount of the request, the financial strength of the business verified by the lender through Dun and Bradstreet and other major business credit reporting agencies, length of time in business, credit scores and history of the principal('s) and nature of the business. Get in touch with our office for free analysis of these factors. When all requisites are met, approval of business loans would range between several days and one week. As such, you should be careful of "dignified telemarketers" who promise you 24-hours approval from your initial point of contact. The result is usually numerous credit questions, reduced FICO scores, denial of credit by numerous lenders, and the principal becomes "blackballed" from financing in the future. Ponder on this, if things were really this easy, then everyone would have enjoyed the advantages of a loan already.

Can direct lenders guarantee me a business loan?

You need to understand that brokers aren't legally allowed to guarantee any business loan. Moreover, no direct lender that we know of will guarantee a potential principal borrower or entity a loan without first reviewing the relevant financial information. Do not ever count on any guarantee of funding from a lender until there is a formal approval of the application even if some applications may be done on a "stated or projected" revenue loan without tax returns through a streamlined application.

Defining SBA (Small Business Association) Loan

The Small Business Association (SBA) works with designated lenders known as SBA lenders to make it less difficult for a business entity to qualify for a loan or credit line. Normally, the SBA guarantees 40-50% of the amount of the loan in the event the borrower or business defaults thus making the qualification process with the lender more streamlined and faster for funding. However, be careful because not every business will qualify for an SBA loan as there are restrictions which the borrower must meet. For complete details, consult the professionals at Global Financial Services for the straight facts on how the SBA works and which loan product is best for you.