• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Promotivia

Ideas. Innovation. Excellence.

  • Home
  • Topics
    • Construction
    • Education
    • Family
    • Furniture
    • Health
    • Pet Care
    • Swimming Pool
    • Technology
  • Ask a Question
  • Contact Us

Four Small Business Association Options for Small Business Financing

Last updated on January 2, 2012 by Sozo Staff Leave a Comment

The transportation industry covers small and big business opportunities without losing its own unique niche identity. Financing within the transportation industry is just one among a myriad of challenging actions. Another layer of difficulty surrounds financing due to the small business aspect of many transportation industry members. The Small Business Association has a number of different options for financing a small business, even in transportation. Here is a sampling of the newer options available to the struggling transportation business owner.

1. Commercial Mortgage Refinancing

Small business financing can ease the difficulties of tough economic times. Growth through financing pushes a business through an economic downturn into the future. Temporary Commercial Mortgage refinancing is currently available through the SBA through 2012. This program came to life under the Small Business Jobs Act with hopes to breathe life into many struggling small businesses who own a property that has declined in value. The loan is based on the owner putting in 10% equity, mortgage lender 50% and the SBA 40%.

2. Expanding Options for Small Companies

Small businesses in underserved communities often do not receive business loans. The SBA added the Small Loan Advantage program in early 2011 with hopes to increase entrepreneurship by allowing more lower-dollar loans. Loans of $250,000 or less should facilitate some economic improvement for lower income communities. Additionally, Community Advantage will reward not-for-profit companies who are involved with community development.

3. Goodwill Financing Receives Higher Caps

SBA goodwill financing was limited in 2009 by a $250,000 or 50% of loan amount cap. This process helps companies buy intangible assets like a well-known name or client list. Most transportation and trucking business value rests on tangible assets much could still be intangible. Like so many other things within the transportation industry, lenders may misunderstand the importance of goodwill financing. Due to unrest, the cap has been lifted to $500,000. This financing option allows anyone to think about purchasing into the transportation industry.

4. The 7(a) Loan

Many SBA programs come and go, however there is one steady option: the 7(a) loan. This is the most general and flexible plan of all the SBA financing options sustained by a wide-range of banks and lending institutions. Existing companies can also benefit from the micro-loan programs present with in the 7(a) loan. Purchasing the necessities like inventory, machinery and equipment are all possible within the micro loan program.

Entering the transportation industry during the coming 2012 year may seem daunting and uncertain. Take some advice from a few professionals who have been around the block. The Tenney Group, successful transportation business brokers, works closely with first time business owners or life long moguls for the better of a company. They can help you explore all the financing options available for your unique transportation business needs.

Filed Under: Financial, Transportation

Additional Articles

Are Car DVD Players a Distraction to the Driver?
Encourage Online Giving for Churches

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

15 − 14 =

Primary Sidebar

Swimming pools

Popular Articles

  • Expandable Children's Furniture at The Bedroom Source
  • African Mahogany Lumber vs Genuine Mahogany Lumber
  • The City Way: Taking Your Child’s Bed to the Next Level with Maxtrix!
  • Perfect Furniture for a Boy's Bedroom, Pt 1
  • Perfect Furniture for a Boy's Bedroom, Pt 2
  • How Do You Treat Reactive Attachment Disorder?
  • Ultra-Budget-Friendly Swimming Pool Upgrades
  • Why Sleep Is Important for Young Athletes
  • Why Parents Love Jackrabbit Class Management Software
  • Septic System Pumping in Mooresville, North Carolina
Swimming pools

Recent Articles

  • Helpful Tips for a Pet-Friendly Pool
  • How to Keep Your Pool Safe During a Storm
  • Tips for Staying Cool by the Pool, Part 2
  • Tips for Staying Cool by the Pool, Part 1
  • Planning the Perfect Poolside Fire Feature, Part 3
  • Planning the Perfect Poolside Fire Feature, Part 2
  • Planning the Perfect Poolside Fire Feature, Part 1
  • Growing Up with Maxtrix Kids Furniture
  • How a Hot Tub in Your Backyard Can Improve Your Life
  • Is Composite Decking or Tropical Decking Better for Boardwalk Construction? Part 3
Home automation with X10

Recent Comments

  • DSP on Pool Maintenance Tips for Salt Water Pools, Part 1
  • Zachary Tomlinson on Amazing Benefits of Pool Ownership, Part 1
  • Zachary Tomlinson on 3 Types of Pool Covers, 3 Distinct Purposes
  • Afton Jackson on Bathroom Remodeling Ideas: Can You Use Wood in the Bathroom?
  • Alice Carroll on 4 Types of Vinyl Pool Liners
  • Afton Jackson on So You’re Adding an In-Ground Swimming Pool? Here’s What You Can Expect
Swimming pools

Copyright © 2023 Sozo Firm Inc · Privacy Policy · Disclaimer · Sitemap