There are always going to be tough times when engaging in a business. Business is not like a walk in the park. It will always have its ups and downs. When the going gets rough, though, and when the business owner is plagued by problems, then he tends to lean on loans – take for example the Small Business Administration Program.
Small Business Administration program
This program is a national project which gives off loan guarantees for its lending partners, in order to eliminate some of the risk for the lending partner. It also makes the loans indirectly. There are a number of SBA loan guarantee programs, all dealing with specific circumstances as established by the SBA. The lending partner, which is normally a bank, structures a commercial loan according to government requirements, in order to qualify for the SBA guarantee.
The Sba Bridge Loan Program
This financing program by Rapid Advance exists to assist the business owners in resolving obstacles that arise from the SBA approval process. The fact is that when the bank has approved the loan request, and the business owner has obtained a guarantee, this guarantee authorization often includes that the owner should meet certain requirements before the bank can fund the loan. One of the requirements is paying past due taxes so that a lien can be released.
By definition, a tax lien is a lien imposed by law upon a property to secure the payment of taxes. It may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes. It may also arise in connection with any kind of federal tax such as income tax, estate tax or gift tax.
How The SBA Bridge Loan Can Help You Pay Tax Lien
A business owner makes use of this program to access capital to resolve the outstanding issues and receive a reduced payoff when the SBA loan is approved. It can also be used as financing for day to day management of your business. The lump sum amount of money that you can get from this program will surely help you replenish the extra cash you had to spend while applying for the loan.
Other Benefits Of The Program
Rapid Advance reviews all the qualifications of the business and not the credit score of the business owner. It cares mostly about the cash flow and tries to see the potential. Moreover, this financing program from Rapid Advance is calculated using your gross sales and business cash flow as the basis. The automated repayment scheme makes paying simple. Also, it does not make use of the fixed assets as collateral. They have also higher approval rates than most banks and, the decision is given in a span of three days, with minimal paper work and hassle. Indeed, business owners seeking to expand their business will definitely benefit from this. They have proven track record, a network of lenders and excellent customer service. Indeed, it is a one-stop place for financing needs.
SB is a financial consultant working with a Mortgage Firm. He is an avid twitter user who tweets regularly. Recently he read on twitter about rapid advance reviews and how they help business grow when they are stuck financially. He is now following them on twitter.