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Are you stuck in your business or need a financial boost? Small business disaster (SBA) loan is aimed at assisting individuals in case of a severe economic and unforeseen disaster, such as with the recently COVID-19 economic recession. There is a laid out criteria that indicate who is eligible to apply this kind of emergency fund. SBA Loan Eligibility For you to qualify for an SBA loan, you must be from a declared disaster area. A declaration from your federal state government has to be made for the credit to be effected. It's issued due to major disasters such as hurricanes, floods, earthquakes, severe storms, or even the novel Coronavirus pandemic. In other instances, some minor disaster cases such as machine breakages or fire may be considered by the SBA personnel eligible. You can obtain the loan if you run a Non-profitable organization or as an individual who has financial constraints attributed to the above factors. An assessment is made to determine your credit rating, and the loan is given upon a successful analysis. SBA Loans Accessibility during the COVID -19 Pandemic The novel COVID-19 pandemic has affected the global economy, and anyone is eligible to access our loan. You can apply for up to two million dollars. The figure might change due to the inclined rate of people who are applying for the loan. Loan agency in Bexley OH encourage you to consider the available loan package regardless of the regulations that may curb your expected figure. How to Repay Your SBA Loan Loan repayment can be made on flexible terms, on a time scale of about thirty years. If you run a business or work for your federal government, you are given seven years to make your loan clearance. If you need to venture into real estate business, you are given a margin of 25-years to pay up. The SBA loan interest rates vary with the type of loan you request. The interest rate range from 7.25% to 9.75%, but for a business loan, it's about 6%. Banks offer lower rates, unlike online lenders, and we recommend you to evaluate your best options to save you money. SBA Loan Application Process The loan application process is done online via the website. You have access to enlisted guidelines on our page to give you clarity of all the relevant information. We also have a customer care option, where you may reach us via a phone call, and our personnel will guide you through the process. You can visit a bank close to you, and make an application using hard copies and await assessment. We respond to your request via email to notify you whether you are eligible or not. We also have centers that assist you in making the application at the convenient locality. Due to the spread of coronavirus, we advise you to make applications via our online platforms, or via calls. You should avoid making visits to our centers until the situation is contained. We are confident that during the pandemic, you will readily have access to the SBA loan. We have a simplified formulation serves you and your loved ones by covering your finances on property and businesses. We are available for your needs on a 24/7 time scale, and you can apply for the loan with confidentiality. We hold all the information on a secure database, and thus personal information is reliable. You don't need guarantors to sign for you since the government takes the initiative. During such trying times, anyone can also apply for this type of loan. In case you find the loan application process rigorous, Heritage Financing is the loan agency near you. We guide you through the application process. We also enlighten you on the most attractive creditors who fit your requirements. You need to visit your bank and make the application soon. The loans are disbursed on a first-come, first-serve basis. The earlier applications are duly processed. Guidelines You Need to Follow During Your Application There are various guidelines you need to go through that enable you to have insight as you apply for the loan. It's not easy to secure collateral that qualifies you for credit. Still, with a timely application, and following the stated guidelines, you become the best-suit candidate to obtain an SBA loan. Here's a highlight:
At financial consultants, we ensure you are the right candidate for an SBA loan. You should familiarize yourself with all the SBA loan disaster requirements, and provide you with fill all the pages needed on your application for you to succeed. Avoid mistakes that may lead to automatic disqualification. We are a well-informed finance company in Bexley, OH, that knows the expectations of lenders, and we can help you increase your loan approval rates. We are willing to assist you in getting a start-up loan for your business and advice you on how to secure financial stability. Find us today and get adept assistance on your financial needs.
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