As a preferred SBA lender, we can make the loan process convenient, easy and, yes, even pleasant. You can even apply online.
Applying for a loan
In order to get an SBA loan, you must first be eligible. Repayment ability from the cash flow of the business is a primary consideration in the decision process but good character, management capability, collateral, and owner's equity contribution are also important considerations.
What information should I have?
First Federal Bank can expedite the SBA loan process with your business plan; your personal financial statements; your business financial statements (if already a business); collateral available to secure the loan; assumptions used in your projected earnings statements; management resumes of those involved in operating the business; and pro-forma balance sheets showing what the business would look like if the loan were granted.