The SBA just released stats on small business debt. They report is a 25 percent increase in outstanding loans for business loan amounts under $100,000. This is for all business financing, not just SBA loans and covers the period between June 2004 and June 2005. They attribute the increase to credit card use, mainly small business credit cards. For loan amounts between $100,000 and $1 million there was a small increase (5 percent).
For the full report from the Small Business Association:
http://www.sba.gov/advo/research/sbl_05study.pdfPeople who want to buy a small business often face difficulty in getting quick access to credit. Most have to get a
small business loan like an
SBA loan. Each lending institution is different. They often have distinct preferences for the types of businesses they like to fund. They may have biases against certain small businesses. For that reason, it’s important to work with a
business broker. They can quickly match you with the funding source that best fits the business you’re planning to buy.
Search for a business broker To learn more about SBA loan financing, BizBuyFinancing offers free comprehensive webinars through the
Business Online Academy. You can listen over the phone and access helpful outlines of what you need to do to prepare.
Click here for a schedule.
http://www.bizbuyfinancing.com/education/
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