Turn Your PASSION Into Your LIVELIHOOD

with OSB’s Small Business Administration

by: Steve Filmer

 

Are you an SBA loan candidate?

 

What is the SBA?

 

For a business owner, it is likely the best program you’ve either never heard of or one that evokes nightmares from horror stories from friends and family that have used the program in the past.

 

SBA, The United States Small Business Administration, is a program administered by the federal government to provide a 75% guaranty on commercial loans. In short, if a $1,000,000 loan defaults, the government will pay the bank $750,000 which helps mitigate risks that would prohibit a borrower from obtaining conventional financing. I know, I lost 97.5% of anyone reading this at the mention of federal government and/or program; however, the benefits are unbeatable:

 

• 10% down or less for qualifying borrowers

• 25 Year Fully Amortizing Terms with Real Estate

• 10 Year Fully Amortizing Terms for all non-real estate transactions

• Loan does not have to be fully secured by real estate

• Perfect for riskier transactions such as Business Acquisitions and Expansions

 

Customers operating through bigger banks, especially with experiences pre-2014 routinely commiserate with their fellow entrepreneurs about how the process took 120-180 days. Procedural changes at the SBA coupled with the OSB’s small structure and experience, have reduced that time to 30-45 days, consistent with conventional financing. No client information is ever entered into a computer algorithm and for any issues that have resulted in a ‘No’ at any other bank. We work to mitigate or consult with you to fix the issue, and do our best to help turn your passions into livelihoods.

 

Contact Steve Filmer for more information on the SBA program, and get started today!