Education - UB Solution

888-778-1437 Special considerations apply to some types of businesses and individuals. Recreational facilities and clubs are eligible if: The facilities are open to the general public. They have membership-only situations. Membership is not selectively denied to any particular group of individuals and the number of memberships is not restricted either as a whole or by establishing maximum limits for particular groups. Franchises are eligible except in situations where a franchisor retains power to control operations to such an extent as to be practically the same as to an employment contract. The franchisee must have the right to profit from efforts commensurate with ownership. Farms and agricultural businesses are eligible. These applicants should first explore the Farm Service Agency (FSA) programs. Fishing vessels are eligible. If seeking funds for the construction or reconditioning of vessels with a cargo capacity of five tons or more must first request financing from the National Marine Fisheries Service (NMFS). Medical facilities: hospitals, clinics, emergency outpatient facilities, and medical and dental laboratories are eligible. Nursing homes are eligible, provided they are licensed by the appropriate government agency and services rendered go beyond those of room and board. Legal aliens are eligible; however, consideration is given to the type of status possessed (e.g., resident, lawful temporary resident, etc.) in determining the degree of risk relating to the continuity of the applicant's business. Probation or parole. Applications will not be accepted from firms where a principal (any one of those required to submit a personal history statement, SBA Form 912) is currently incarcerated, on parole, or on probation; is a defendant in a criminal proceeding; or whose probation or parole is lifted expressly because it prohibits an SBA loan. Debt Financing-Guaranteed Loan Programs Lending institutions offer a numerous SBA guaranteed loan programs for small businesses. SBA does not lend the money; it does guarantee loans made to small businesses by other institutions. 7(a) Loan Program is the most flexible loan program that provides financial guarantee for a variety of general business purposes and designed for start-up and existing small businesses. 7(a) Loan Program is delivered through various commercial lending sources. This Program designed to help start-up and existing small businesses get financing when they are not eligible for business loans through normal lending channels. The program has got its name from section 7(a) of the Small Business Act, which authorizes SBA to provide business loans to American small businesses. SBA guarantees a portion of loans made and administered by commercial lending institutions. 7(a) is the most commonly used type of loan. Because financing can be guaranteed for a variety of general business purposes, including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions) it is the most flexible program. Loan terms are up to 10 years for working capital and up to 25 years for fixed assets. Many American lenders participate in the program and it makes this program widely accessible for small businesses. Participating lenders agree to structure loans according to SBA's requirements, and apply and receive a guaranty from SBA on a portion of this loan. The SBA does not fully guarantee 7(a) loans—the lender and SBA share the risk that a borrower will not be able to repay the loan in full. The guaranty is against payment default, it does not cover imprudent decisions by the lender or misrepresentation by the borrower. Yury Iofe, MBA Universal Business Structured Solution More educational resources by Yury Iofe: 888-778-1437

UB Solution is a Private Capital Advisory Firm and Direct Lender specializing in out of the box Financing.