New SBA Loans are still BANK APPROVED...

SBA stimulus sounds good, but unless it is money directly from the SBA it still has to get the bank's approval and that is the real problem here.  If banks won't lend, then the SBA process is not going to work well.  This is not to say that ALL banks wont participate, but certainly a lot are out of the lending business entirely or are being very selective.

 

I would compare this money hunt being done by the small  business community to something along the lines of a treasure hunt or a scavenger hunt.

Everyone has nearly the same map to find the treasure, but like any map, there is misinformation and misdirection. If the borrower can read past the misinformation and misdirection, (see my free report on SBALOANSTORE.COM about credit culture) then they  may find the treasure, but not as much as they had hoped for.  Plus, if someone else taps the funds allocated, the next borrower gets none.

 

Another analogy is the  scavenger hunt.  We all get directions and clues to what to get along the way and where to find it.  We need all these items to get to the goal of winning the loan race.  If you can't find one or more of the items as you pursue the clues and ask for those items ( READ THIS AS HAVING GOOD CREDIT, A HOME WITH EQUITY, BUSINESS SKILLS, CASH FLOW, DOWN PAYMENT, ETC.), you will never get to the goal of having a loan funded.

 

I read about this all the time for many sources including WSJ, business mags and pubs, emails, the Coleman report, etc.  The snipe hunt leaves the borrowers unsatisfied and chasing illusive loans when they are told by the Obama Admin and SBA that the loans are available (like the ARC loan). Good luck in getting one.  Finding a lender, even with a perfect package, can prove to be an impossible task.

We are faced with lenders being told not to lend and not to make 'bad loans' (completely undefined of course), but to lend to the most risky of borrowers - the Small Business Owner.

 

But this does not mean that a person who needs capital should not work the system. SBALOANSTORE gives the clients unlimited access to lenders on a local, regional, and national level.  The key is using my system, a scanned package, and the list of all the lenders, plus using the SBA itself as the team to help you.  It does not guaranty that the loan will be approved, but it is infinitely better than doing nothing.

Craig Francis is the creator of  SBALOANSTORE.com and is one of top 10 commercial USA real estate brokers nationally, with over 27 years of business development industry experience. He has personally produced a BILLION DOLLARS for small business, and was a top producer for Dun & Bradstreet, Bank of Commerce, and Local Development Corporation. Visit SBALOANSTORE.com for more information. Craig Francis is also available to work directly with businesses in the Southern California area.