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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.

Related Programs

888.88.CASH.1 ext: 0 (888.882.2741)

Cash@moneyman4business.com

Or

Inquiry Now
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
Trustpilot

(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.

    February 14, 2025

    WANT TO START YOUR SMALL BUSINESS – GRAB SBA 7(A) LOAN INSURED BY THE SBA

    SBA 7(a) loans, small business loans, low-interest rates, government-backed loans
    0

    Little to know about the SBA 7(a) before you start

    Small Business Administration (SBA) is a government agency in the U.S. that assists the small business owners and their small businesses by providing small business loan. SBA aims at strengthening the US’s economy by helping a small business to grow. Small business loan refers to an amount given to an aspirant who wishes to start a small business. Business owner can use the small business loan for an existing small business, to start a new small business or to finance an existing small business and for the activities that may require cash in the future. In other word we can say that entrepreneurs need capital for conducting day to day business.

    SBA 7(A) loan –Make your dream come true

    There are different SBA loan programs out of which SBA 7(A) is the prime one that offers small business loan to the existing small business or to start a fresh small business. SBA 7(A) loans can be used for variety of purposes and the SBA is responsible for setting the upper limit of the interest rates that can be charged on the SBA 7(A) loan by the banks. Maximum interest rate on the SBA 7(A), in turn, depends upon the market rates. It changes as the market rate changes. Upper interest rate on SBA 7(A) loan is majorly dependent on 3 factors-the base rate or prime rate or SBA peg rate, duration of the term of the loan, which may be lesser or greater than 7 years and the size of the loan.

    Who can approach SBA for SBA 7(A) loan?

    To gain the benefit of acquiring SBA 7(A) loan, a business must be small as according to the definition given by the SBA, should do business in the U.S., should have reasonable equity investment, must have used the other financial resources plus the personal assets before obtaining financial help and should be able to present the need for the SBA 7(A) loan. Also, person seeking the loan must not be default for any existing debt obligation to the U.S. government. The loan applied must be used for the right business purpose.

    Are You All Set: Quick check on the documents

    A loan applicant is probably asked to furnish his/her personal details as about his/her background, his/her address, names that he/she uses his/her educational background and criminal record, if any. Prior criminal history is not necessary disqualification. Special committee make the final decision. He/She also has to produce his/her business experience to assess his/her efficiency in the business he/she has suggested and acquiring loan for. He/She should be able to submit prior years business financial statements. projecting the financial statements, profit and loss, cash flows and balance sheet. Most of the time, applicant is required to produce his/her personal and business income tax returns from last 3 years. Other documents may include business credit report, financial and bank statements and some other legal documents like business licenses and registrations required for to conduct business, Articles of Incorporation, copies of contracts with any third parties, commercial leases and franchise agreements.

    What is the typical cost for SBA 7(a) Loan

    • $70,000 to $350,000 are the typical SBA 7(a) Loan size.
    • Loan amount for typical of $350,000.
    • For 10 years for Interest & Principal repayment term,
    • Monthly payment $3,929.80, Interest rate 6.25% APR including fees 7.73%.
    • The most typical rates are 6.25% to 7.25% interest rate is variable and based on Prime Rate plus 2.75% to 3.75%.

    Your SBA resource Specialist can advise and suggest the various other options and exceptions are available.

    So Are you ready to choose between 44 business loan programs ?

    APR starting from 5.49%

    Pre-approve your loan now

    Inquiry Now
    February 14, 2025

    SBA EIDL Reconsideration Business Loan Program

    SBA EIDL reconsideration, business loans, fast funding, additional funding
    0

    SBA EIDL Reconsideration Program

    Apply Now

    If your SBA EIDL loan application was denied or you need additional funds from EIDL. You still have an opportunity to submit an explanation, provide updated information utilizing SBA & IRS forms. Request your application to be reviewed again. Money Man 4 Business offer Loan Packaging services have been very successful with the EIDL reconsideration.

    SBA EIDL did not offer, approved or funded your business with enough capital less than the current $150,000 CAP for SBA EIDL loans.You may qualify for additional capital especially if you can prove intend of use of the funds for Hiring more US-based employees & investing into USA made inventory.

    Resolution: Speak directly with Money Man 4 Business, Chief Financial Officer John (JJ) Guillory at 281.763.2294 ext. 0. John Guillory has over 32+ 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.

    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 $2 million 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 disaster 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 a FREE current “Experian” consumer credit report from here. 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.

    Related Programs

    888.88.CASH.1 ext: 0 (888.882.2741)

    Cash@moneyman4business.com

    Or

    Inquiry Now
    November 18, 2024

    SBA 504 Loan Program

    SBA 504 Loan, Real Estate Financing, Equipment Loans
    0

    SBA 504 Loan Program
    From Money Man 4 Business

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

    3 MINUTES ELIGIBILITY SURVEY

    OR

    Best for small to medium size business owners

    SBA 504 loan program can be very beneficial for small to medium size businesses due to their longer repayment period and fixed interest rate. 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.

    Why SBA 504 loan program

    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, Restaurants, Bars, Retailer Build-out floor plans, all the business fixtures, equipment, furniture and many more fixed assets, start-up inventory,  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 and many more use of proceeds for  you and your project to be successful.

    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). SBA loan amount: Loans are generally from $1.5 million and $10 million.

    Features:

    • Amounts up to $10 million
    • Tenure up to 25 years for real estate
    • Tenure up to 10 years for Machinery and Equipment
    • Commercial real estate 90% LTV
    • No Minimum credit score required
    • Multiple loans can be consolidated and/or refinanced
    • Interest rate Current Prime + 3% variable rate
    • Backed by US Govt.

    SBA 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

    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.
    • Commercial real estate 90% LTV for Refinance, Purchase & Construction loans

    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 $1,100,000, monthly payment of $10,782  for 25 years Loan.

    Recent Funding 2: Amount $1,600,000, monthly payment of $15,682  for 25 years Loan.

    Recent Funding 3: Amount $3,200,000, monthly payment of $27,875.44 for 25 years Loan.

    Eligibility

    • Business at least 24 months old
    • Debt being refinanced must be a commercial loan.
      • Refinance the loan is at least 24 months old at the time of 504 Refinance 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

    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

    Required Documents:

    • Six months of bank statement & current month to the date Bank statement
    • Three years of Business & Personal tax returns.
    • Current Year to Date P&L / Balance Sheet date.
    • Schedule of Liabilities (download)
    • Money Man 4 Business application (LINK)
    • Schedule of Real estate assets. (Link)
    • Information on the collateral will be used to secure this 504 Loan. (if you selected the property).
    • Experian Credit report  https://www.experian.com/

    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 504 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

    APPLY NOW

    Need Help?

    888.882.2741 Ext. 0

    Cash@Moneyman4business.Com

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