Question & Answers

No, we are not loan lenders. We just prepare your business documents for you to use for all of your loan submission needs.

Yes, our team of finance experts can provide all of your business tax documents.

According to guidelines, If you started a new business in 2020, can you still get a PPP loan? Yes: but only if you were operational on February 15, 2020.

According to guidelines, Contractors in operation on February 15, 2020 can apply for the PPP using a completed Schedule C for 2020. Your Schedule C does not need to be filed, but should still be reviewed by a tax professional for accuracy and completion. 1099-MISC forms for 2020 may need to be provided as supporting documentation.

SBA loans cannot be used for businesses in which the primary source of income is real estate investment. In fact, SBA loans can only fund real estate that is owner-occupied, and will be used primarily by the business that is taking out the loan. However, in most cases, a business only needs to occupy 51% of the property it has purchased. This means that they may be able to rent out the rest of the property to other tenants in order to supplement their income. Businesses that are getting financing to construct a new building for their business are often held to a higher standard; in most cases, at least 60% of the building must be occupied by the borrower, meaning that 40% or less of the property can be rented out to other tenants.

Yes, you will need a business bank account for all loans to be deposited with in your account. In some cases some banks may allow a non business bank account for self employed owners.

Many 501(c)(6) nonprofits who did not qualify for a sba loan last year are now eligible under certain guidelines.

Previously EIDL loan amounts were calculated using 6 months of 2019 gross revenue. The calculation was: 2019 Gross revenue divided by 2 (2 representing 6 months of injury) = Loan Amount Currently EIDL loan amounts will be calculated using 24 months of 2019 revenue.

Though the Small Business Administration doesn't set specific SBA credit score minimums, approved SBA lenders will almost always have SBA loan requirements, credit score minimums often being one of the most important. Generally speaking, SBA loan credit score minimums typically fall somewhere around 620-640+

Yes, Land and real estate are two of the biggest expenses you can have as a small business owner. Whether you're hoping to buy your current location (owner-occupied) or expand to a new building, the SBA 7(a) standard loan is a great option for financing for business owners. We can assist you in processing and applying for this loan.

Independent contractors and self-employed individuals like day traders can apply for merchant advances as well as bank loans.