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March 24, 2025

SBA 7(a) vs SBA 504 Loans: Which One Is Best for Your Business?

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SBA 7(a) vs SBA 504 Loans: Which One Is Best for Your Business?

When it comes to funding your small business, navigating the world of loans can be overwhelming. Among the most popular options for business owners in the U.S. are the SBA 7(a) loan and the SBA 504 loan. Each of these business loans offers unique benefits and is designed for specific needs such as business expansion funding, commercial real estate loans, and more. In this guide, we’ll break down the key differences between SBA 7(a) and SBA 504 loans, helping you determine which is the best SBA loan for your business. Plus, learn how Money Man 4 Business, the experts in SBA loan application help, can assist you in securing the financing you need to grow.

SBA 7(a) vs SBA 504

What Is an SBA 7(a) Loan?

The SBA 7(a) loan is the most common SBA loan program offered by the Small Business Administration. It provides working capital, equipment financing, debt refinancing, and business loans for real estate purchasing options for small businesses.

Key Features of SBA 7(a) Loans:

  • Loan amounts up to $5 million
  • Terms up to 25 years (for real estate)
  • Competitive interest rates (typically prime + 2.25% to 4.75%)
  • Use of funds: broad and flexible, great for business expansion funding
  • Requires a minimum credit score of 650
  • Personal guarantee and collateral may be required

Ideal For:

  • Businesses needing flexible capital
  • Startups or newer businesses
  • Companies purchasing or refinancing real estate
  • Working capital and equipment financing

What Is an SBA 504 Loan?

The SBA 504 loan is designed specifically for long-term, fixed-asset purchases, such as land, buildings, and heavy equipment. It is delivered through a partnership between a Certified Development Company (CDC), a lender, and the SBA. This is a preferred choice for commercial real estate loans.

Key Features of SBA 504 Loans:

  • Loan amounts up to $5.5 million (sometimes higher)
  • Terms of 10, 20, or 25 years
  • Fixed interest rates
  • Use of funds: primarily real estate, land, equipment
  • Requires a down payment of 10%
  • Typically requires strong business financials and a solid business plan

Ideal For:

  • Established businesses with solid cash flow
  • Companies expanding or upgrading facilities
  • Businesses looking for long-term real estate ownership
  • Entrepreneurs planning to build or renovate

SBA 7(a) vs SBA 504: Key Differences

Feature SBA 7(a) Loan SBA 504 Loan
Loan Amount Up to $5 million Up to $5.5 million
Interest Rate Variable (Prime + 2.25% to 4.75%) Fixed, below market rate
Terms Up to 25 years 10, 20, or 25 years
Down Payment Not usually required 10% minimum required
Use of Funds Flexible: working capital, real estate, equipment Fixed assets: real estate, machinery, renovations
Collateral Often required Collateral is typically the asset being financed

Pros and Cons

SBA 7(a) Pros:

  • Flexible usage of funds
  • Lower down payment
  • Useful for many business types
  • Easier access for newer businesses
  • Ideal for business expansion funding

SBA 7(a) Cons:

  • Variable interest rates
  • Higher interest rates compared to SBA 504

SBA 504 Pros:

  • Fixed interest rates
  • Longer repayment terms
  • Ideal for commercial real estate loans and asset purchases

SBA 504 Cons:

  • Limited use of funds
  • Requires 10% down payment
  • More complex application process

Which One Should You Choose?

The choice between an SBA 7(a) loan and an SBA 504 loan depends on your specific business goals:

  • Choose SBA 7(a) if you need flexible funding, are starting up, or want to refinance debt.
  • Choose SBA 504 if you are buying commercial real estate, machinery, or making large, long-term investments.

If you’re still not sure, speaking with SBA loan experts can help you decide which path makes the most sense.

Why Choose Money Man 4 Business Loans?

At Money Man 4 Business, we specialize in matching small businesses with the right SBA 7(a) and SBA 504 loan options. We know the ins and outs of the SBA loan application process and make it simple for you.

Here’s what makes us different:

  • ✅ Fast Pre-Approvals for SBA 7(a) & 504 loans
  • ✅ Free Credit Score Report to understand your financials.
  • ✅ High Approval Rates for eligible businesses
  • ✅ Flexible Terms and Low Rates for all loan types
  • ✅ Expert Guidance on SBA 7(a) vs SBA 504 decision-making
  • ✅ Support for Startups & Established Businesses

Whether you’re ready to expand your business, purchase new equipment, or acquire property, Money Man 4 Business is your one-stop destination for SBA loan application help.

💼 Apply now and let our experienced team walk you through the process of securing the best SBA loan for your business goals.

📞 Visit moneyman4business.com to get started or speak to our loan advisors.

February 14, 2025

SBA 504 Loan Program

SBA 504 Loan, Real Estate Financing, Equipment Loans
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SBA 504 Loan

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Fund is the main concern of today’s business world. Due to a shortage of funds, several companies and recent startup are not able to grow. They are considered un-fundable financial status. (Startup business are business less than 24 months in operation). Money man 4 Business has a customized solution & can offers of the SBA 504 & other Microloan for independent companies.  Additionally, SBA 504 Loan for business loans is a very good resource for businesses & allow the business to grow through the acquisition of commercial land, refinance existing Commercial Business Mortgage, Heavy Commercial equipment, various manufacturing machinery equipment & limited to 20% of Commercial appraisal amount can be cash out for business cash flow at the time of loan closing.

Benefits

  • Low Rates for 10, 20- and 25-year term
  • Multiple loans can be consolidated and/or refinanced
  • Cash out available up to 90% LTV &
  • Up to 20% of the appraised value can be cashed out for working capital

504 Loan Structure

  • 50% Bank – First position. Approved SBA Lender
  • 40% CDC – Second position. Approved CDC in your State.
  • 10% equity from borrower
    • Borrowers can refi up to 90% of the current appraised property value. The refinancing may also include eligible business expenses
    • Other Assets can be used as collateral to get to 90% LTV
      • If the real estate is for special use, it will require an extra 5% borrower injection

Eligibility

  • Business at least 24 months old
  • Debt being refinanced must be a commercial loan.
    • Refi the loan is at least 24 months old at the time of 504 Refi application.
    • 85% or more of the existing loan was used to obtain a 504 eligible fixed asset
    • Secured by a 504 Fixed Asset
    • Borrower has been current on loan payments for the last 12 months
  • 51% or more owner-occupied

Expand Your Possibilities

The U.S. Small Business Administration 504 Certified Development Company Loan program conserves your working capital by requiring only a 10 percent borrower contribution. If you do not qualify for conventional financing, the SBA-backed 504 loan may be right for you.Certified Development Companies (CDCs) are nonprofit corporations that promote economic development within their communities through 504 loans. The SBA authorizes CDCs to provide financing to small businesses with the help of third-party lenders (typically banks).Maximum SBA loan amount: Loans are generally capped at $5 million. Certain eligible energy-efficient or manufacturing projects may qualify for more than one 504 loan up to $5.5 million each.


SBA 504 Loan Interest Rate
Below-market fixed interest rates for the life of the loan. The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). Small businesses can now apply for the lowest interest rates since July 1, 2018 as the program is now allowing 20 and 25-year interest rates current Prime + 3% variable rate.

Required equity
A low down payment (10 percent in most cases) conserves your working capital

Terms

10, 20- or 25-year terms

Use of proceeds

Long-term, fixed assets for expansion or modernization (usually real estate or large heavy equipment with life expectancy of more than 10 years). Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.

Advantages of the Loan

There are always advantages and disadvantages of loan and borrowing projects. It depends upon the usage and requirement. The needy business owners may back up to 40% of the expense of a venture at a fixed loan cost over a 10 or 20-year maybe 25 years in some cases range putting down as meager as 10% in value. (Organizations under activity for two years are viewed as new businesses by the SBA and require the borrower to set up at any rate 15% of absolute undertaking costs.) The advance additionally permits borrowers to fold qualified delicate expenses into venture financing.

How it Works?

SBA 504 works uniquely and simply so that you can easily access the loan. As it’s known that SBA 504 Loans are pair credits, their endorsement depends upon cooperation from more than one moneylender. Money man 4 Business works with different moneylenders to help fund up to 90% of the venture’s all-out expense. Does it sound unrealistic?

The SBA’s objective with the 504 programs is to create provincial territories, hoist poorly represented business people (ladies, minorities, and veteran entrepreneurs), and improve regions needing monetary turn events. The 504 loan additionally attempts to loan LEADING guaranteed ventures and ecologically economic development, decreased vitality utilization, and helps communities affected by government spending reductions.

The objective of 504 fundraising consists of current policies to fund US Higher quality business applicants. These are to uphold ladies, minority, and veteran-possessed organizations, renew monetary improvement territories, give help to communities affected by Federal spending reductions, advance LEED affirmed activities, and backing ventures that decrease vitality utilization by at any rate 10 percent.The CDC will coordinate and structure the financing package between the parties. The 504 loan consists of a conventional first mortgage, typically for 50 percent of the project cost, from a third-party lender. The SBA –backed portion of the 504 loan will be a second mortgage, financing up to 40 percent of eligible project costs. The remaining 10 percent will be your small business owner contribution. Under certain circumstances, you may be required to contribute up to 20 percent of the total project cost.Startup (in business less than 24 months) and special-purpose properties may require an additional contribution from the borrower.

What Is a Certified Development Company?

Those who have investigated financing option have probably seen reference to Certified Development Companies (CDCs). They may not be fully aware of what a CDC is or what role they play. Nonprofit organizations certify CDCs, but independent of the Small Business Administration (SBA). There are 230 CDCs around the country, each with a specific regional focus. They work in conjunction with conventional financial institutions to provide funding for businesses that would otherwise have less access to high-quality financial resources. Money Man will locate & interview CDCs offices & Financial institutions in your local business community and promote your entire application to develop a CDC office & financial institutions that will agree to participate in your SBA 504 loan CDCs administer SBA 504 loans, which borrowers can use to acquire land, buildings, equipment, or renovations and business upgrades. They also help applicants for SBA 7(a) loans to purchase or construct real estate, acquire equipment, work capital, or Inventory. Most importantly, CDCs improve community economic development, stimulating small businesses’ growth and expansion, and helping local communities thrive.

Ineligible Businesses

  • Nonprofit (beneficent, strict, government substances)
  • Real Estate venture firms
  • Firms engaged with theoretical exercises
  • Dealers of uncommon coins and stamps
  • Firms engaged with loaning exercises
  • Businesses engaged with pyramid deals plan
  • Passive organizations
  • Private clubs and organizations that limit participation
  • Businesses essentially occupied with advancing religion
  • Businesses essentially occupied with political exercises

Ineligible Use of Funds

  • Requirement of Liquid fund or Working Capital (minimum amount can be approved)
  • To manage the Inventory
  • The assets which have the Goodwill
  • Several fees i.e., partnership fees
  • Tenant growth
  • Mostly for consolidating existing business debts

The Bottom Line

Finally, an SBA 504 fund availability or opportunity is a BLESSING for small business owners; this loan is right for several purposes and running the business. The SBA loan option is an excellent option in the current scenario. Everybody needs a fast process in the present world and taking a loan soon for the required purposes. If we see, in the event that you need quicker subsidizing or don’t figure you can meet all requirements for the SBA 504 loan, you’ll need to investigate elective wellsprings of financing – like momentary loans, business credit extensions, or different sorts of business loans.

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February 14, 2025

SBA 7(a) Business Loan Program

SBA 7(a) Loan, Business Financing, Small Business Loans
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SBA (Small Business Administration) 7(a) LOANS

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Financing options in the current scenario for the small business owners is a blessing. Small scope businesses are those in which the expense and amount of labor are less. Small scope businesses make a significant function in the whole modern economy of the nation. One can undoubtedly get an loan from the bank to begin work. With regards to small business financing, you will see that Money man 4 business is your ally. We’ve taken since quite a while ago and made it easy for applying for an SBA 7(a) loan and made it more reasonable through our smoothed-out application measure and committed group. Our best financial experts are always with you from the beginning of the application.

Also, if an SBA loan is not the ideal for you, we will assist you with finding the best program for your business.

SBA loans: The basics

A business advance can be a well blessing for the development of your company, yet there are couple of things you do not want to deal with, for an example, If your business is less of deals If the period runs or your receipt is postponed, the advance can be troublesome. In this manner, there are a few things that you should consider before applying for business credit.

What is an SBA loan?

An SBA credit is a legislature ensured private company advance that has a long run and a low-financing cost. The Small Business Administration (SBA) is the administrative organization that somewhat ensures SBA credits and is established in 1953 to help entrepreneurs over the United States.

The most well-known misconception about these Commercial Real Estate loans/advances is that the agency lends money directly to companies. The agency usually does not do direct loans. The SBA gives a guarantee on loan, promising to repay the bank for a specific level of your loan percentage if you default on that loan.

Where can I apply for an SBA loan?

Small business owner had only one option when they were looking for an SBA loan in the past that is going to a bank and many owners doesn’t know that some banks might say NO and some can say YES to the same Business owner. But things have been changed, now we have technology which can help Small Business owners to get an SBA loan easier from home those who are eligible. Money Man 4 business has created a network to help business owners to get an SBA Loan easily if they are eligible. Even if they are not good fit for SBA loan, they will recommend for other best business loan programs they are eligible for. For SBA loan our application can help checking eligibility with multiple banks with varying credit requirements very easily. We have helped many business owners to get an SBA loan with the best Interest who were previously rejected by their local banks. Like we said the technology which we have help connecting business owner’s requirements with multiple banks/lenders and compare to get the best out of it. So rather walking or calling banks to banks. Call us directly or apply online on our website to get your SBA loan in a quite simple & efficient process.

What can you use your SBA loan for?

SBA 7(a) loans credits from $30,000 – $5 million from banks via Money man 4 business network and can be utilized for debt refinancing and working capital. Working capital can be operational costs, advertising, employing, and so on. SBA loans can be utilized to purchase new equipment also.

Existing Business debt refinancing can also be done by using an SBA 7(a) loan which are not secured by real estate for example, loans, business cash advances, and existing equipment leases.

SBA Commercial Real Estate capital from $400,000 – $5 million from banks using Money man 4 business network and can be utilized for the buy or renegotiate of business land that is 51% owner occupied.

What did SBA loans cost?

Presently for the great stuff: How much is an SBA business loan going to cost you? The news here is positive—it’s hard to beat the low financing costs and long repayment terms for these business loans. SBA business loans, in general be the most affordable financing that is available for all small business owners.

SBA business loans available many different rates varying from bank to bank or lenders to lenders you work with. however, the SBA decided the maximum interest that can be charged for these business loans. SBA business loans from banks in the Money man 4 business network have variable financing interest rates and very much dependent upon the amount you required. For SBA Commercial Real estate the interest rate is current Prime + 3% variable rate with loan amount $400,000 – $5 million and for SBA 7(a) with loan amounts $30,000 to $350,000 respectively.

Personal and business requirements to apply for an SBA Loan

SBA Loans through Money Man 4 Business is for healthy borrowers. Usually businesses operated for at least 18 months with good credit score of 650+, no bankruptcy or foreclosure and having good cashflow that is sufficient for repayment of the loan till the loan closing date will be qualified. Your cashflow, credit score and business revenue will be very much dependent for your business loan approval And Different lenders might have different criteria to get approved.

Even after that if you do not get approved by any of the lending company no worry. Our advisors will recommend you procedure to increase credit score/financial health or recommend any other best programs upon your requirement. Remember we are here to help your business growth.

Documents required:

  • Personal & Business Tax Returns
  • Personal Financial Statements
  • Profit & Loss Statement
  • Balance Sheet
  • Collateral

Other Documents can be like business location proof, license, incorporation certificate.

Get Started Here!

It is quite easy for you to apply with us. Just visit our website moneyman4business.com. Look for SBA 7(a) loan program or SBA commercial real estate loan program or any other programs you like to apply. At the top of the page you will find Apply online button, Just hit it and fill the application and you are good to go or else just call us at 888.882.2741 Ext-0.

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February 14, 2025

SBA 7(a) Business Loan Program

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SBA 7(a) Loan Program
From Money Man 4 Business

Check your eligibility in less
than 3 minutes with our Eligibility survey.

3 MINUTES ELIGIBILITY SURVEY

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Best for small to medium size business owners

SBA 7(a) can be very useful for small to medium size businesses due to their longer and flexible repayment period. We at Money Man 4 Business make sure you get the best program at best rate for your business growth and success. And we have made this easier for your business to check their eligibility for our business loan programs with our 3 minutes eligibility Survey. Just visit our website moneyman4business.com and click on 3 minutes eligibility Survey.

What is SBA 7(a) loan program

An SBA credit is a legislature ensured private company advance that has a long run and a low-financing cost. The Small Business Administration (SBA) is the administrative organization that somewhat ensures SBA credits and is established in 1953 to help entrepreneurs over the United States.

SBA business loans available many different rates varying from bank to bank or lenders to lenders you work with. however, the SBA decided the maximum interest that can be charged for these business loans. SBA business loans from banks in the Money man 4 business network have variable financing interest rates and very much dependent upon the amount you required.

Features:

  • Amounts up to $5 million
  • Tenure up to 25 years for real estate
  • Tenure from 10 to 15 years for non-real estate debt
  • Interest rate Current Prime + 3% variable rate
  • Longer amortization
  • No Collateral required depending upon cases
  • Closing costs can be included in loan

Use of Proceeds:

  • Cashflow and Working capital
  • Business acquisitions
  • Business expansion
  • New Franchise financing
  • Machinery & equipment acquisitions and refinancing—up to 100%
  • Line of credit restructuring and lease refinancing
  • Real estate acquisitions or refinancing—up to 90% financing available (51% owner-occupied)
  • Construction loans—up to 90% financing available

Speak with our CFOMr. John Guillory.

It’s very simple to make an Inquiry online or take a 3 minutes eligibility survey at our website or just call us at 888.882.2741 Ext.0 (888.88.CASH.1 ext-0) and ask for Mr John Guillory.

Recent Fundings 

Recent Funding 1: Amount $350,000, Monthly payment of $4,821 for 10 years.

Recent Funding 2: Amount $275,000, Monthly payment of $3,788 for 10 years.

Recent Funding 3: Amount $100,000, Monthly payment of $1,378 for 10 years.

SBA 7(a) Advantages

SBA 7(a) loans credits from $30,000 – $5 million from banks via Money man 4 business network and can be utilized for debt refinancing and working capital. Working capital can be operational costs, advertising, employing, and so on. SBA loans can be utilized to purchase new equipment also.

Existing Business debt refinancing can also be done by using an SBA 7(a) loan which are not secured by real estate for example, loans, business cash advances, and existing equipment leases.

SBA Commercial Real Estate capital from $400,000 – $5 million from banks using Money man 4 business network and can be utilized for the buy or renegotiate of business land that is 51% owner occupied.

Eligibility

  • Must be a US Based business
  • Must be in business for at least for 13+ Months (2 years business tax return)
  • Must have credit score 650 or above
  • Minimum Gross Annual $30K+

Required Documents:

  • Six months of bank statements, current month to the date Bank statement
  • Two to Three years of Business tax returns.
  • Three years of personal tax returns for each owner of the business.
  • 2024 Current Year to Date P&L / Balance Sheet dated within the last 30-60 days.
  • Schedule of Liabilities (download) Loans like SBA EIDL
  • Color copy of US government-issued identification. If State Drivers License must have both sides in color
  • Copy of your Experian credit report https://www.experian.com/
  • Money Man 4 Business application (LINK)

Call us today we will assist with any questions or application requirements. Loans are Pre-Approved within 2 business days and complete funding within 5 to 15 business days.

Get Started Here!

It is quite easy for you to apply with us. Just visit our website moneyman4business.com. Look for SBA 7(a) loan program or any other programs you like to apply. At the top of the page you will find Apply online button, Just hit it and fill the application and you are good to go or else just call us at 888.882.2741 Ext-0. We are always here to help, If for whatever reason it goes to voicemail, We will call you back as soon as possible.

We are here for you

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February 14, 2025

SBA Disaster Loan, EIDL, SBA Disaster Assistance Texas

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SBA disaster loan by Money Man 4 Business in Houston, get eidl relief assistance to apply with reconsideration application for SBA emergency loans for your small business effected by disaster.

Due to the outbreak of many hazardous situations like earthquakes, flood, pandemic or more such like, the small businesses are seeking financial help, and their best hope is the loan from SBA disaster loans. The low-interest long-term SBA disaster loan is a viable option for small businesses suffering from the economic downturn or the business that wishes to grow but cannot secure loans from non-government finances.

SBA emergency loans are working capital loans available to small businesses and most private non-profit organizations. Currently, all small businesses in all U.S. states and territories are currently eligible for small loans with low interest due to the pandemic.

However, to do so, the governor of the state has to declare that the state is an economic emergency and also the country where the business is headquartered declares economic emergency so that the business is entitled to apply for the loan. While most of the businesses are eligible to apply for the SBA disaster assistance, some businesses like the marijuana shops, casinos, racetrack, etc. are not eligible for such loans.

In the month of March’20, the U.S. Federal Reserve signed the Corona Virus Aid Relief and Economic Security (CARES) act, which is a big corona virus relief bill, the sole purpose of which is to support the small business during this uncertain time due to the pandemic. One of the actions in the bill is the Paycheck protection program. 

The program has been originated from the CARES act, which was initially set up to provide SBA disaster assistance to American small businesses with eight weeks of cash-flow. In this program, small businesses are eligible, with the loan having a maturity rate of two years at an interest of one percent. There is no security or personal guarantee required against the loan; also, a loan can be forgiven and basically turn into a non-taxable grant.

These program loans are more extensive than the SBA disaster loan assistance; even small businesses having sole proprietorship, self-employed individual, and freelance workers are eligible for the loans through this program. But there are conditions; at least sixty percent of the loan needs to be used for payroll and employee benefits.

The balance forty percent needs to be used to mortgage interest, rent, lease, and utility payment. The loan is not directly paid by the SBA, but they back the lenders. The purpose of the program is to protect the paychecks of the employee.

How to get SBA disaster loan assistance?

In recent years, the USA’s small business has suffered a number of major disasters like wildfire, earthquakes, hurricanes, flooding, and droughts. But the major crisis has been the Covid 19 pandemic. As a small business or a startup, if you seek relief, your business might be eligible for the SBA disaster loans in Texas. They will provide you a low-cost business loan that will help you rebuild your business keep you in operation.

The SBA disaster loan has a low fixed interest rate and generally carries fixed, low monthly repayment. It has a fixed interest rate for the entire loan life, and the formula is set as per the law, and it may depend upon the type of disaster and the market condition. For instance, the interest rate due to the pandemic Covid 19 for-profit business is fixed at 3.75%, and for non-profit business, it is fixed at 2.75%.

For small business disaster loans, both physical and economic disaster loans are available in the disaster area. To avail of this loan, the business must be a small business which is located within the declared disaster area. A business that is owned independently and doesn’t dominate its operation is deemed a small business. But the business which racks their one-third revenue through legal gambling activities like casinos and racetracks is not considered eligible for such loans.

The SBA disaster loan assistance can be used to replace or repair the damaged property owned by the business, which might include the real estate, supplies, machinery, inventories, etc. They can also be used as the capital that is designed to meet the financial obligation for the business.

February 14, 2025

PPP Loan Forgiveness Application, SBA PPP Loan Forgiveness

PPP Loan Forgiveness, SBA PPP Loan, Loan Forgiveness
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SBA PPP Loan Forgiveness Just Got Simpler with Money Man 4 Business

Use our professional team to make your SBA PPP loan forgiveness application process simpler.

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We do all the paperwork just at $499, and you run your business. Any query call us at 888.882.2741 Ext 0 or Make an Inquiry below.

How to Apply for SBA PPP Loan Forgiveness?

To apply for SBA PPP Loan Forgiveness, we need to understand what is a SBA PPP program and how it works and what are the eligibility criteria to Apply for PPP Forgiveness? So just learn few basics of SBA PPP loan program.

Why SBA PPP also called as Grant or What is SBA PPP Forgiveness?

SBA PPP is a forgivable loan program which is meant to keep small business owners and their employee working for 8 weeks period from the time you received the loan. This loan also can be used to pay mortgage interest, rent and utilities bills for 8 weeks from the time you have received the loan. These are the cases where you can use the loan for and have the loan(principal + Interest) forgiven which means you don’t have to pay it back which effectively makes it a grant to you by SBA.

What else you can use the SBA PPP loan?

You can also use this loans for any other categories just like any other business loan but those usage of loans will not be forgiven.

What is SBA PPP (Paycheck Protection Program) loan?

It was a SBA Business loan program passed into law as part of the cares Act which was signed on March 27th 2020. This program has been authorized up to $349 Billion dollars to provide loans to small businesses across the Unites State.

Rates & Terms

There is no guarantee or collateral required for this loan. The loan amount is calculated as two and half times of your average monthly payroll and the maximum loan amount per business is $10 Million Dollars. It has a fixed interest rate of 1% and term is 2 years for the loan amount that has been used in non-forgiven category. It has monthly repayment. To avoid higher interest, you can pay it back before 2 years as well and there is no prepayment penalty for doing that.

Businesses Eligible & Rules for Loan Forgiveness as below:

Use of proceed: Payroll costs, mortgage interest, rent and utilities.

Entity Type: All businesses including non-profit, veterans organisations, tribal concern, self-employed individuals, sole proprietorships and independent contractors with 500 or fewer employees. In some cases, Even if you have more than 500 employees also eligible if they meet industry specific size standard.

Citizenship is not required but must have Tax ID number (EIN/SSN).

All Owner must have 20% minimum ownership need to be on the loan.

No Minimum credit score Required

No Minimum Revenue Required

No Minimum time required although must be in operation in February

How to get your paperwork ready to apply for SBA PPP Forgiveness?

To get a full loan forgiveness or a part of it, you must follow the process with complex rules and calculations. Any small size Error on PPP Forgiveness application or with documents will leave your application on the table.

If you or your Business has received SBA PPP. We are here to help with all the paperwork for the PPP Forgiveness application to get a error free Application with our help of Professional CA. So what are you waiting for ?

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February 14, 2025

SBA EIDL Loan Increase, EIDL Loan Increase Request and Re-consideration

SBA EIDL Loan, Loan Increase, Reconsideration
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Apply For EIDL Reconsideration or Loan Increase

COVID-19 Economic Injury Disaster Loan

EIDL Loan increase Request / EIDL Re-consideration program

The United States Small business administration is putting more effort into tripling the maximum amount that non-profit organizations and small businesses can borrow under this COVID-19 Economy Injury Disaster (EIDL) Program.

Starting from the first week of April 2021, i.e. from April 6, 2021, onwards, The Small Business Administration (SBA) is increasing the loan limit for the EIDL program from a maximum loan amount of $150,000 to up to a maximum loan amount of $500,000.

Many existing EIDL loans which are approved prior to the week of April 6, 2021 will be eligible for an increase according to the new maximum loan amount announced on March 24, 2021. So if you already have received your EIDL, there are possibilities that your loan amount can be increased.

So here, Money Man 4 Business’s Chief financial officer John Guillory has 29+ years of experience with govt ensured and govt funded loan program. Money Man 4 Business expertise that have helped business owners with over hundreds of thousands of business financial transactions since 2007. So, we are ready to take your application further for a loan increase if SBA EIDL did not offer, approved, or funded your business with enough capital for SBA EIDL loans. We can also help with a reconsideration on your EIDL Loan program from SBA if it is denied. So just call us at 888.882.2741 Ext. 0 today or Hit the Inquiry button below to submit an Inquiry form.

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EIDL Loan Increase Application has Expired

Targeted EIDL Advance

The EIDL Program has a grant program, and it is designed to provide the coronavirus impacted business with fast funding of up to $10,000 to meet the immediate business needs. The SBA has started providing this grant money to small businesses right after congress approved fresh funding for the program. In the first round of EIDL grants back in March 2020, the funds were exhausted quickly, and many small businesses received only $1000/employee or nothing at all.

Early this year, back in February 2021, The SBA Announced its new Targeted EIDL advance program in which Small businesses applying for EIDL could get a $10,000 cash grant whether or not they received the EIDL loan approval.

So To learn more on Targeted Advance & if your business qualifies for additional monies coming to you or how to apply for the first time, frequently asked questions, and more information. Request here your Free copy of the U.S. Small Business Administration pdf namedTargeted EIDL Advance published by the SBA on February 1, 2021.

 

We at Money Man 4 Business ready to take it forward towards every possibilities of success of your business in this hard time. As a Small Business we know how hard it can be these days. Not only you but also 3.7 million businesses out there who needs help with their financial needs and confused how to apply for EIDL or EIDL rejected!! What to do? Or Do not know how to apply for $10,000 grants? Or else received only few thousands which is insufficient to run the business. All questions can be answered here at Money Man 4 Business. Just call at 888.882.2741 Ext. 0 today or Hit the Inquiry button below to submit an Inquiry form.

Just call us at: 888.882.2741 Ext 0

Or

Make an Inquiry right now.

February 14, 2025

SBA GRANT FOR EATING & DRINKING ESTABLISHMENTS

SBA Grant, Restaurant Financing, Bar Financing
0

While you take care of your business, we will take care of packaging your Grant!

This program has been created to help restaurants and other eligible businesses keep their doors open during these hard times. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Business owners can apply since April 3rd 2021 until funds are completely allocated.

Eligible entities who have experienced pandemic-related revenue loss:

  • Any Restaurant related business that was established between January 1st 2019 and March 10th 2021 can Apply.
  • Credit Score (FICO) is not an eligible criteria.
  • Restaurants
    • Food stands, food trucks, food carts
    • Caterers
    • Bars, saloons, lounges, taverns
    • Snack and nonalcoholic beverage bars
    • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
    • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
    • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
    • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
    • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
    • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

(After received we will Calculate Possible Grant Amount)

  • Our online e-Application completed from https://moneyman4business.com/the-new-eapplication/
  • Color Copy of Driver License (Front & Back)
  • Copy of Voided Check
  • 2019 Business Tax Return Including All Pages and All Schedules
  • 2020 Business Tax Return, if not available POS
  • Sales Reports or P&L and Balance Sheet
  • 3 most Recent Business Bank Statements
  • Page 1 of your PPP Contract (If funded for PPP1 or PPP2)

Resolution: Speak directly with Money Man 4 Business, Chief Financial Officer John (JJ) Guillory at 281.763.2294 ext. 0. To determine if your business may qualify for SBA EIDL Loan increase. John Guillory has over 28+ years’ experience working with Government insured &/or funded Loans.

When an applicant applies for SBA Economic Injury Disaster Loan, the economic injury is not substantiated based on the initial application. On the basis of information provided by you on your loan application, it has been determined that your economic injury cannot be substantiated. The decision has been arrived on the basis of the following two reasons.

The economic injury faced by you is less than the amount received from EIDL advance. Based on this, SBA cannot substantiate any additional claim at this point in time.

Because of information provided by you, SBA cannot determine any economic injury to your business.

Many applicants did not seek professional or experienced help completing the application & incorrect figures were used on the initial application.

Resolution: Money Man 4 Business can request your application to be reconsider for up to $150,000 which is the current CAP amount for SBA EIDL loans. If your figures were reported incorrect. Money Man 4 Business will revise any portion of the application that may had been incorrectly report at the initial application.

If you had late payments in the past and might be caused by you are struggling with low cash flow, reduced business revenue because of the Pandemic or you made all payments on time but you are over leveraged because you have depend on your personal credit to support your business cash flow requirements.

Resolution: You can submit your current Experian Credit report to Money Man 4 Business. We will review the entire Credit report with you and develop narrative report to explain how problems & economically issues in the past has hurt your credit while you were building your business. In the past 10 years in the US Business Owners has been depending on personal credit & financing that has taken away from the business profit margins. We recommend you obtain current credit report for only $1 from the LINK below. After you submit the Current Experian credit report. We will review in detail with you and help compose narrative report that we will submit on your business behalf for your application to be reconsidered for SBA EIDL loan. Link to IQ: https://www.identityiq.com/sc-securepreferred.aspx?offercode=4311491X

When the SBA did certain types of verification of various data of information regarding the Legal Entity. Certain Information could not be verified such as Business Banking Information, Your Federal EIN, Legal Entity Status, Taxes or other financial Information could not be verified.

Resolution: We have list of various items to use to verify Business Financial & Entity information. That information is submitted using IRS & SBA required Government forms. The process is manged by our SBA Specialist Team to ensure compliance and accuracy. The most consumed time currently is ordering the Business prior years Federal Tax return information. Files are getting funded. Patience and Accuracy is important, Money Man 4 business has the knowledge.

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888.88.CASH.1 ext: 0 (888.882.2741)

Cash@moneyman4business.com

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February 14, 2025

Targeted EIDL Advance, SBA EIDL Advance, EIDL Grant 2021

targeted eidl advance
0

Targeted EIDL Advance

Many commercial real estate investors and small businesses had been hit very hard by the covid-19 situation. Many countries are severely impacted, and some businesses also have received the small business administration targeted loan application.

On this page, I will be discussing about the SBA advance loan and the step-by-step process to get the loan.

Overview

Applicants for the covid-19 economic injury disaster loan are eligible to receive approximately $15000 from SBA with its imperative factors is that, it does not need to be repaid to the SBA. The agency has already sent more than 800000 emails to businesses that have already applied for EIDL loan.

To receive an advance payment, you first have to apply for covid-19 SBA EIDL advance. No need to accept or approve the loan. You can simply apply for the loan and SBA will automatically invite you through email to get your advance payment.

The agency have approved 3 million 83 lakhs of disaster loans of about $300 billion.

EIDL grant 2021 loan for non-taxable expenses, non-reduce expenses, and also non-reduced PPP forgiveness.

Eligibility for EIDL targeted advance

Prior to applying, make sure your location is under the low income area.

  • This is identified under the section 45(D) of the Internal Revenue Code. In order to identify whether you qualify, check for the SBA EIDL Map.
  • There has to be at least 30% reduction in revenue within the 8 weeks time frame. This begins from Mar 2, 2020 or post.
  • Applicable for those who have applied prior to Dec 27th, 2020 but didn’t received the Advance because of insufficiency in fund raising.
  • Business owner must possess 300 or less number of employees

Targeted EIDL advance

The targeted economic injury disaster EIDL loan advance provides up to $10000 to applicants those who:

  • Are in a low-income community: To help every applicant who comes under the low-income area is provided with a mapping tool and is defined in section 45D of the internal revenue.
  • Can demonstrate more than 30% reduction in revenue: On 8 March 2020, if any applicant gets into the low-income area then they will be added to that criteria also it will be necessary to provide monthly revenue proof for a 30% reduction.
  • Have 300 or fewer employees:

The applicants who are eligible for the ideal program are mainly business entities. They include contractors’ private organizations, enterprises, proprietors, or any non-profit organization.

All the details from SBA will be directly sent from SBA’s official email account which ends with @SBA.gov.

Do I qualify for the eidl grant 2021?

The supplemental EIDL targeted advance gives a supplemental payment of $5000 that does not have to be paid again. No matter if you have previously received the ideal advance still you are eligible for getting the advance again.

Prior to applying for the loan one need to ensure that your business meets these criteria:

  • Is located in a low-income community
  • You can easily use any mapping tool to check if your business comes under a low-income community as stated in section 45d of the internal revenue code. Also, don’t forget to check the business address which must be in a low-income community to get qualified to apply for a loan.
  • Can prove more than 50% economic loss
  • During 8 weeks, applicants are required to provide gross monthly revenue in every current month.
  • Has 10 or fewer employees

Supplemental targeted advances are easily available to sole proprietors, independent contractors, private organizations, non-profit organizations, and others that may also qualify for the ideal loan program.

The main difference is that in supplemental targeted advance farmers and ranchers are not eligible to take loans so they can apply for covid-19 EIDL advance 2021 loan program

SBA advance funds returned by banks

When Bank returns the loan amount to SBA, the loan do not immediately re-disburse.

SBA is working to fix this issue.

Information for applicants

After applying for a loan check the status of your application through the covid-19 EIDL loan 2021 applicant portal. If you cannot see your status, you can directly contact the customer care of SBA disaster at 800-659-2955 or through email at TargetedAdvance@SBA.gov to request a new invitation.

Keep in mind that this loan process may take several days. If your application is declined due to any issue then you can send an email to TargetedAdvanceReevaluation@SBA.gov.

No need to worry if your application was denied, you still have a 45-day window to appeal the SBA determination but still, before you begin the loan process you must consult an advisor.

What information should a company include for applying for the loan?

  • Full name of the company
  • Mobile number, name address email of your business
  • Business location and branches
  • Business statement
  • Company gross profit and loss
  • Reason for loan
  • Statement of the relief
  • Signature of the business owner

How to apply for the new $2 million loan?

If you haven’t applied for any loan in the past then you have to do a new application.

  • Go to the SBI website and scroll downs where it says EIDL.
  • Now just click on “Apply here” red colored button
  • Now one can be redirected to the application, fill the application and start the targeted EIDL advance

Even if you have already applied for a loan and received it, you can still apply for a new increase in the loan.

  • You should sign in to SBA portal account
  • There is a blue button that says “request more funds”
  • Just with your mouse click on that and it takes you to the page that says if there have been any change of ownership or bankruptcy in the business you have to tell them and if there are no changes just leave it and click on submit.
  • Then after applying you will receive an email and get your loan fund.

The Bottom Line

The small businesses that are normally in a low-income area and have seen a significant drop in the revenue in the covid-19 pandemic can easily be eligible to get the loan.

You can pay the loan after 6 months or even you can get compensation so, no need to pay the loan back to targeted EIDL grant which will be better for your business.

You can send your appeal by email and once your application is accepted you will get an email from the official SBA. You just have to provide the above-mentioned details for applying and successfully getting a loan.

No need to worry as it will be a government-based loan.

February 14, 2025

How to apply for SBA PPP Loan Round 2 or PPP2?

SBA PPP Loan, PPP2, Business Financing
0
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(Money Man 4 Business Do Not Charge Any Fee For The Application.)

Sorry. PPP 2 Application form is no longer available as the Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

President Biden has made changes to the PPP loan program.

Notes:

A common challenge many self-employed individuals face is that they may not have yet to file their 2020 taxes. You can provide your lender a draft of your 2020 Schedule C that you will file with the IRS.

New Paycheck Protection Program (PPP) rules that allow eligible self-employed individuals who file Form 1040, Schedule C, to calculate their maximum loan amount using gross income instead of net profit. This may increase the amount of funding most eligible self-employed individuals can qualify for.

Only Five Steps if you want to use 2020 information for your PPP loan application prior to filing your 2020 taxes. March 31, 2021 PPP2 ends for new applications.

  • Now New Changes. More funding for PPP2, You may qualify for PPP2 for more funding.
  • No longer using Line 31, Use Line 7, Gross Income, Schedule C
  • Use Gross Income, divide in to 12 months, multiply by 2.5 = Your Benefit.
  • Self-Employed, Independent Contractors, and Gig Economy Workers can Apply for PPP Loan Prior to filing 2020 Taxes.

There was a problem with your submission. Please review the fields below.

    Submit

    The Paycheck Protection Program remains open for First and Second Draw PPP loans until March 31, 2021, as set forth in the Economic Aid Act, or until Congressionally appropriated funding is exhausted. The maximum amount of a Second Draw PPP loan is $2 million.

    Eligible Entities Have a Second Chance to Receive a PPP Loan

    There are many businesses who were not able to receive the first round of PPP loan and many businesses also requested for a 2nd round of PPP loan. So, the new proposed bill allows new and old business to receive 2nd round of PPP loan only if they meet the required eligibility.

    Eligible Entity: Schedule C or F, income and expenses from a sole proprietorship, or bank records (not a schedule F farmer or Schedule E landlord), An LLC or other entity treated as a partnership or an S Corporation that meets following requirements:

    • Businesses at least have a 25% reduction in gross receipts in a quarter in 2020 compared to same quarter 2019. The gross receipt will include all revenues of the business including expenses from the business normal operation for the purpose of this 25% rule.
    • Business must have less than 300 employees or meet an alternative size standard.

    Were you not in Business in 1st, 2nd or 3rd quarter of 2019?

    If a business was not in operation during the 1st, 2nd or 3rd quarter of 2019 which is from 1st January 2019 – 30th September 2019 but were in operation during 4th quarter of 2019 which is between 1st Oct 2019 – 31st Dec 2019, they can compare the 1st, 2nd or 3rd quarter gross receipt of 2020 which is between 1st Jan 2020 – 30th Sep 2020 with the 4th quarter of 2019 gross receipt to calculate the 25% reduction in gross receipt.

    Not in Business in 2019 but were in Business by February 15th, 2020?

    If a business was not in operation during whole 2019 but was in operation by February 15th, 2020, then such businesses can compare their gross receipt of 1st quarter of 2020 (January 1st, 2020 – March 30th, 2020) with 2nd or 3rd quarter of 2020 (April 1st, 2020 – June 30th, 2020) to see the gross receipt reduction.

    Are you a seasonal business? or a New Entity? Or a business with multiple physical location?

    Seasonal Business:

    If you are a seasonal business, then the maximum amount of PPP round 2 loan is explained below:

    The Loan amount will be calculated based on the average monthly payroll cost for a 12 week period selected by the loan applicant. The date must begin from February 15th, 2019 or March 1st, 2019 and ends on June 30th, 2019. If the above dates do not fit for you then alternatively the business may elect any consecutive 12 weeks (any 96 consecutive days) period starting from February 15th, 2020 and ending before January 1st, 2021 multiplied by 2.5. But the loan amount cannot exceed more than $2 million.

    New Businesses:

    For new businesses, the loan amount can be calculated based upon average monthly payroll costs up through the date the business applies multiplied by 2.5. Again, loan amount cannot exceed $2 million.

    Multiple Physical Location Businesses:

    For businesses with multiple physical locations, the maximum loan amount for 2nd round of PPP loans is stated as follows:

    Maximum $2 million can be the total amount of all covered loans and the Administrator shall not substitute ‘not more than 300 employees per physical location’ for the term ‘not more than 500 employees per physical location’ in paragraph (36)(D)(iii).

    Businesses owned 20% or more by Chinese entities are not eligible to receive the 2nd round of PPP loan.

    Publicly traded businesses and entities affiliated with the People’s Republic of China are on the list of entities that cannot qualify for a new PPP loan.

    PPP Loans Which are Forgiven Will Be Deductible

    The IRS has issued a series of Revenue Procedures and Notices that alarmed many PPP borrowers by stating that expenses paid for with forgiven loans will not be able to be deducted. This was against Congress’s intent, and the proposed bill clarifies their position.

    PPP Forgiveness Eligibility: Apply here

    • 60% of the PPP loan amount must be used for Payroll costs.
    • Existing Business mortgage Interest amount can be eligible for forgiveness.
    • Business Rents and Utility bill payments also eligible.
    • Operations expenditures including office support functions, software and computing costs and processing fees of payrolls.
    • Supplier cost which are especially required for business operations.
    • Covid-19 safety precaution equipment’s for employees.
    • Property damages, vandalism or looting due to public disturbances which are especially not covered under any insurance or compensation.

    What is SBA PPP2 (Paycheck Protection Program) loan or PPP round 2 loan?

    On December 21st, 2020, Congress passes a long waited Covid-19 relief bill and government funding bill which includes $284 billion for a second round of Pay-check Protection Program (PPP) loan.

    Key points:

    • Interest rates of 1%
    • Maximum Loan Amount $2 Million
    • Eligible for Forgiveness or Free money -> Apply here
    • No Collateral or Personal guarantees required.
    • Business Expenses paid with PPP loans are tax deductible according to CARES Act.
    • Business have taken the first round of PPP loan can also apply for second round if eligible.
    • 8 weeks to 24 weeks loan forgiveness covered period. 10 months after you can file for forgiveness.

    Businesses Eligibility for PPP round 2:

    Entity Type: All businesses including nonprofit, veterans’ organizations, tribal concern, self-employed individuals, sole proprietorships, and independent contractors are eligible for forgiveness under below conditions:

    • Business must be in operation on February 15th, 2020.
    • Small size businesses with 300 or fewer employees.
    • First Draw PPP loans- for those borrowers who have not received a PPP loan before August 8, 2020. Are not required to demonstrate a 25% reduction in gross receipts.

    OR

    • Second Draw PPP loans- for eligible small businesses with 300 employees or less and that previously received a First Draw PPP loan. These borrowers will have to use or had used the full amount of their First Draw loan only for authorized uses and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

    Documents Required:

    CARES Act Report

    This report is generated straight from your payroll provider like Gusto, Sure payroll, Paychecx, ADP etc. By using this report, the loan processing can be quicker. So, contact your payroll provider and ask for a Cares Act PPP2 Report.

    Tax Documents for 2019

    Voided Check

    You will need to submit a photocopy of voided check front and back from your business bank checking account.

    Driver’s License or Passport

    You will need to submit a photocopy or scanned copy of your Driver’s license or Passport front and back.

    How to apply for SBA PPP Loan?

    To Apply for PPP loans, you must follow the process with complex rules and calculations. Any small size Error on PPP application or with documents will leave your application on the table.

    If you or your Business has received first round of SBA PPP loans and wants to apply for the second round. We are here to help with all the paperwork for the PPP to get an error free Application. So, what are you waiting for? Use our 29+ years of expertise to do the PPP loan application for you while you run your business smoothly without any worry.

    Just call us at: 888.882.2741

    Or

    Make an Inquiry right now.

    Frequently Asked Questions:

    Will I eligible for 2nd round of PPP loan if I have already taken in 1st round?

    The Answer is YES; you may qualify for 2nd round of PPP loan even after taken the first round of PPP loan and used it completely. Although there are few new eligibility criteria your business needs to meet for the second round of PPP loan. Check eligibility in above article.

    Is there any guarantee that I will receive 2nd round of PPP loan after applying?

    There is no guarantee of approval of PPP loan as it is completely depending upon SBA eligibility criteria. But you will surely receive a brief explanation of hold or rejection of application within certain time.

    I have applied for 1st round of PPP using my bank or using any other lender so can I still apply for the 2nd round of PPP loan with the help of Money Man 4 Business?

    Yes, it does not matter if you have applied with another lender, we can still help you with the round 2 PPP application.

    Why PPP loans are also called as a Grant? Because this loan amount can be a Free money for you if you follow the Forgiveness Eligibility criteria mentioned above on this article. Yes, that means you do not need to pay the money back just like any grant.

    How would I apply for PPP Forgiveness?

    Just like PPP application, Money Man 4 Business can also help you with the paperwork for PPP Loan Forgiveness application with a one-time upfront charge of $499. You can inquire for PPP Forgiveness program by visiting PPP Loan Forgiveness and fill the inquiry form.We will call you back and explain the rest of the procedure.

    Related Programs

    Just call us at: 888.882.2741 Ext 0

    Or

    Make an Inquiry right now.

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