SBA Loan Application Processing
SBA Loan processing
Many businesses, especially those smaller companies, need that extra boost of working capital.
The SBA-backed microloan program may be the perfect fit. Get quick access to business funding, up to $50,000, without the hassle of dealing with a bank.
The registrations group has expanded services beyond certifications to assist small business get access to working capital through the government.
Eligibility To Become An 8(a) Certified Company (as of July 15, 2020)
- Be a small business as determined by NAICS size standards
- Business must be at least 51% owned and controlled by a socially disadvantaged individual (African American, Native American, Asian Pacific American, Sub-Continent Asian American, or Hispanic American.
- There has also been occasions where women and veterans have been able to prove a social injustice in order to be considered for the 8(a) program.
- Have a personal net worth that does not exceed $750,000, adjusted gross income that does not exceed $350,000 or less than $6 million in assets
- In the past two years of business sales, no more than 70% of that revenue can be from one single client.
- Business must demonstrate potential to perform on contracts