A Nevada LLC creates a corporate veil, helping protect your personal assets from business liability. Nevada also has the lowest taxes in the country when it comes to your business!
With business credit, you’ll be able to secure business loans without having to use your personal assets as guarantee or collateral. If you have bad personal credit, but proper business credit, you’ll still get approved!
When a professional CPA prepares your taxes, they can look for commonly missed tax breaks, as well as red flags that may trigger an audit. 90% of businesses will overpay their taxes by over $1 billion dollars, so don’t lose out on a chance to save money.
We have been working with Fordham for a couple years now, and they have been... read moreKC6/07/2021
A team of Professionals who did what they said .Customer6/07/2021
This is my second time dealing with Fordam. They have always treated me with respect... read moreCustomer6/07/2021
Howard and Rob have helped us numerous times with funding when we desperately needed it!... read moreJackson6/07/2021
Rob Winston and Fordham Capital is an absolute true and consummate professionals , when he... read moreCustomer6/07/2021
the process was very professional at the same time personableRIIO Group LLC6/07/2021
Howard was amazing to work with from the beginning. We were a “tricky” case and... read moreJennifer L.6/07/2021
Second round of funding was as easy as the first. Great service and people highly recommended.Rice Brothers Construction6/07/2021
Small Business Loans In Lake Forest
Advantages of an SBA Loan for Your Tarrant County Business
Whether you’re a seamstress who is thinking about opening a custom fashion shop, you’re a hairstylist who wants to expand your salon, or you run a successful restaurant and you’re thinking about opening up a new location, if you’re thinking about taking out a Lake Forest, TX small business loan, contact Fordham Capital, LLC. Since 2015, our funding specialists have been helping the entrepreneurs of Tarrant County secure the financing they need for their business ventures. From SBA loans to business grants, we can help you get instantly approved for immediate working capital. We have successfully helped countless business owners access the funds they need to start new companies, expand existing organizations, restructure their existing debt, or just get through financial rough spots. No matter what your situation may be, if you’re thinking about taking out a Lake Forest, TX small business loan, get in touch with the team at Fordham Capital, LLC.
What Is An SBA Loan?
If you’re looking into securing funding for your business, you’ve probably come across a lot of jargon and terminology that you might not be familiar with. “SBA loan” has more than likely been one of those terms, and it’s something that every Tarrant County small business owner should be familiar with.
So, what is an SBA loan? The acronym “SBA” stands for “Small Business Administration” and an SBA loan is a type of Lake Forest, TX small business loan. This type of loan is issued by a private lender but is partially backed by the United States federal government. In short, the SBA works with a network of financial institutions that lend money to small business owners. The SBA offers several different loan programs. Examples include:
- SBA 7(a). Provides up to $5 million, and the funds can be used as working capital, for business expansion, or to purchase new equipment.
- SBA Express. Offers up to $1 million (which will decrease to $500,000 on October 1, 2021). The purpose of this type of Lake Forest, TX small business loan is to provide fast funding that can be used for working capital, real estate, expansion, and equipment purchases.
- SBA 504. This type of SBA loan provides up to $5.5 million, which can be used to invest in property, equipment, machinery, and other types of fixed assets.
- SBA microloan. Offers up to $50,000 that business owners can use for working capital, or to purchase inventory, supplies, and equipment.
- SBA disaster loan. This type of SBA loan offers up to $2 million that Tarrant County businesses can use to repair physical damages to their commercial properties as a result of a declared disaster, as well as to cover any operating expenses.
And those are just a few of the different types of SBA loans. A business owner applies for an SBA Lake Forest, TX small business loan via an approved lending institution, such as a bank or a credit union. Then, the lender applies for a partial loan guarantee with the SBA, which can cover up to 85% of the amount of the loan. If the business owner defaults on an SBA loan, the US federal government will repay the guaranteed amount to the lender. Terms on SBA-backed Lake Forest, TX small business loans vary; for example, the SBA 7 (a) loan has a 7-year term, while on an SBA 504 loan, the terms can be up to 25 years.
Benefits of An SBA Loan for Your Tarrant County Business
If you’re a Tarrant County business owner who is thinking about taking out a Lake Forest, TX small business loan, an SBA-backed loan could be the right option for you. Some of the most notable benefits include:
- Competitive rates. As per the rules that have been established by the US federal government, lenders that participate in SBA loans must base interest rates on the prime rate, as well as a markup rate, which is referred to as the spread. Generally, the rates are comparable or even lower than Lake Forest, TX small business loans that aren’t guaranteed by the US federal government.
- Low fees. Typically, the fees that are associated with an SBA loan include an upfront guarantee fee, which is determined by the amount and maturity of the loan, as well as an annual service fee, which is based on the guaranteed portion of the outstanding balance. Each year, the SBA reevaluates the fee structure.
- Longer repayment terms. Longer terms are another key benefit of an SBA loan. With an SBA-backed Lake Forest, TX small business loan, you’ll have more time to repay the amount you borrowed. In turn, you will have access to more funds that you can put toward your Tarrant County business. The term of the loan depends on how you intend on using the money you borrow. Currently, the maximum maturities on SBA loans are as follows:
- Flexibility. With a lot of small business loans, the terms dictate how the funds can be used; for example, you might only be able to use the money to purchase real estate, not equipment or inventory. SBA loans, on the other hand, are a lot more flexible. Working capital, real estate, equipment, supplies, inventory, machinery; you can use an SBA loan to fund a myriad of business-related expenses. For instance, if you secured $50,000 in funding with an SBA microloan, you can use part of the funds to purchase inventory and supplies, and use the rest as working capital. Thanks to the flexibility that an SBA loan provides, you can really enhance your business and improve your success.
Contact a Leading Lake Forest, TX Small Business Loan Advisor
With so many benefits, it’s no wonder why so many small business owners rely on SBA loans for their financing needs. If you’re interested in taking out an SBA loan for your Tarrant County organization, get in touch with Fordham Capital, LLC. Our funding specialists will guide you through the process of securing government-guaranteed Lake Forest, TX small business loan. Call 1-800-755-9284 or visit https://fordhamcapital.com to find out how we can help you secure the funding you need to achieve the success you deserve.
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- Lake Forest, TX is located in Tarrant county in Texas State