In the current 2009 economy, many small business owners find themselves in need of additional funds to help grow their business. The Obama government has stepped up with 100% SBA backed loans for companies in business less than 24 months. The obvious question is; what is the catch?
Online PR News – 26-May-2009 – – There is a limited amount of time and a finite amount of funds available so a smart small business owner can’t afford to wait or make mistakes when applying to the bank. Business owners have until December 31, 2009 or the funds run out. Not much time and no room for second chances.
QT Enterprises, a Southfield Michigan credit approval specialist, is determined to help as many small business owners as they can. Promptly after President Obama launched the 100% SBA backed loans, in Spring 2009, QT Enterprises went to work. Today QT launched their ‘New Business Loan’ marketing campaign, specifically to attract small business owners looking for a fighting chance at getting a loan. The campaign outlines the opportunity for small business owners, the QT process and their timely services.
Small business owners typically go to a lender unprepared to ask for a business loan and therefore often get turned down or receive only a portion of the funds requested. The SBA is guaranteeing up to 100% of a loan, but only for properly prepared requests from credit worthy businesses under 2 years old.
“We make sure our clients are completely prepared for the loan approval process.” said President of QT Enterprises, Tina Williams. “Our team has years of experience getting loans approved.” she added.
There is no reason for a credit viable business owner not to apply for a bank loan now. Assuming they have a good use for the funds and a well thought out Business Plan to grow their business now is the time to go for it.
The QT Enterprises process covers 2 key components necessary for getting approved.
1. Owners must meet these minimum qualifications:
• 700 credit score on all owners of the business.
• Business is under 2 years old and operating in Michigan.
• Have collateral to pledge i.e. accounts receivable, equipment with realistic estimated value, personal property (home equity or investment properties).
• Current Debt to Income is less than 45%.
2. QT Enterprises prepares a loan package including 4 elements:
• Purpose of the Loan
• Full Disclosure of Debts
• Complete Business Plan including a Marketing Plan, Management / Organization Chart and Financial Statements.
• Loan Application
Eric Gilboord, QT Marketing Chief, adds “Who better to have on a business owners’ team than an ex bank Loan Officer and an ex Underwriter when getting ready to meet with a bank Loan Officer and an Underwriter.”
The management at QT is so confident in their abilities to help new business owners secure loans they are offering a 50% Money Back Guarantee. Just meet their qualifications and if you don’t successfully receive a loan they will refund 50% of their fee.