#sba certified companies

[ryanshtech]

8(a) Streamlined Technology Application

Elevate your business with Ryansh Tech's advanced 8(a) Streamlined Technology Application. Streamline your processes, improve productivity, and stay ahead of the competition with our user-friendly interface and comprehensive functionality. Experience the power of technology at your fingertips.

Click Here: https://ryanshtech.com/

[tsmom1219]

Small Business Administration expands clean energy loan program

Read the full story from the Associated Press. The SBA wants to bring in lenders ranging from hyperlocal microlenders to nationally oriented financial institutions. Lenders can apply to become a microlender — offering loans up to $50,000; a Certified Development Company, which is a nonprofit focused on economic development of its community; or Community Advantage Small Business Lending Company,…

[amsnetworks]

Empowering Growth: The Advantages of Being a SWaM Certified Business

Becoming a SWaM (Small, Women-owned, and Minority-owned Business) certified business is a powerful step for entrepreneurs looking to expand their market reach and boost their business credibility. This certification is particularly valuable for small businesses owned by women and minorities, providing them with numerous opportunities and resources. In this blog post, we will delve into what it means to be a SWaM certified business, the certification process, and the myriad benefits it offers.

What is a SWaM Certified Business?

A SWaM certified business is one that has been recognized as a Small, Women-owned, and Minority-owned Business by the relevant certifying authority. This certification is aimed at promoting the growth and success of these businesses by providing them with better access to state and local government contracting opportunities. To qualify, a business must meet specific criteria, including being independently owned and operated, and meeting the Small Business Administration (SBA) size standards.

The process of becoming a SWaM certified business involves a detailed application and review process. Applicants must provide comprehensive information about their business operations, ownership, and financial status. This thorough evaluation ensures that only eligible businesses receive the certification, thereby maintaining the program’s integrity. For businesses that successfully obtain SWaM certification, the rewards are substantial, including increased access to government contracts and enhanced market visibility.

The Certification Process

The journey to becoming a SWaM certified business begins with understanding the eligibility requirements. The business must be at least 51% owned and controlled by one or more women, minorities, or individuals who qualify as economically disadvantaged. Additionally, the business must meet the SBA’s size standards, which vary by industry.

Once eligibility is confirmed, the application process involves gathering and submitting extensive documentation, such as business licenses, financial statements, and proof of ownership. The certifying authority will conduct a thorough review of these documents, which may include site visits and interviews to verify the information provided. Although the process is rigorous, it is designed to ensure that only businesses that genuinely meet the criteria receive certification. For those who succeed, the benefits can be transformative, offering a competitive edge in the marketplace.

Benefits of Being a SWaM Certified Business

Obtaining SWaM certification offers numerous advantages. One of the most significant benefits is increased access to government contracts. State and local governments have procurement goals that include a percentage of contracts awarded to SWaM certified businesses. This gives certified businesses a better chance of securing lucrative contracts that might otherwise be out of reach.

Another key benefit is the enhancement of the business’s credibility and reputation. Being SWaM certified signals to potential clients and partners that the business meets high standards of reliability and integrity. This can lead to increased business opportunities, not just with government entities but also with private companies that prioritize diversity in their supply chains. Additionally, certification can open doors to networking opportunities through various programs and events designed to support SWaM certified businesses.

How SWaM Certification Can Drive Business Growth

SWaM certification can be a catalyst for significant business growth. With greater access to government contracts and enhanced credibility, SWaM certified businesses can experience substantial increases in revenue and market presence. Moreover, certification often comes with access to a wealth of resources and support services, such as business development programs, mentoring, and financial assistance.

These resources are designed to help SWaM certified businesses improve their operations, expand their capabilities, and compete more effectively in the marketplace. The growth opportunities provided by SWaM certification can be profound, laying the foundation for long-term success and sustainability. For many businesses, certification represents not just a mark of distinction, but a strategic tool for driving growth and achieving their business goals.

Conclusion

In conclusion, achieving SWaM certification is a valuable step for small, women-owned, and minority-owned businesses. The certification process may be detailed and rigorous, but the benefits, including increased access to government contracts, enhanced credibility, and growth opportunities, make it well worth the effort. For businesses like AMS Networks LLC, SWaM certification is more than just a recognition; it is a gateway to unlocking new opportunities and fostering long-term success.

[504capital]

Buying a commercial property can be a big step for your business, especially if it's a unique property that doesn't quite fit the mold. SBA 504 loans can be a great option for financing these "special purpose" properties, often with lower down payments and attractive fixed interest rates. This SBA 504 Loan for Your Special Purpose Property program allows you to combine financing from a bank, a certified development company (CDC), and your own investment. Read our blog for a more detailed breakdown of SBA loans for commercial property and special purpose properties. Curious if an SBA 504 loan might be right for your special purpose property or what are the commercial real estate loan requirements? Contact us today to discuss and get started!

[mcommercialcapitalgroup]

Fueling Small Business Success with SBA 7a and 504 Loans

In the ever-evolving landscape of small business financing, securing the right loan can be a game-changer for entrepreneurs looking to expand, invest in new equipment, or simply keep operations running smoothly. Two loan programs that have played a pivotal role in fueling small business success are SBA 7a and 504 loans. These loans provide the financial foundation that small business owners need to thrive in today's competitive market.

Loans for Small Business: Small businesses are the backbone of the economy, and they often require financial assistance to pursue growth opportunities. That's where SBA (Small Business Administration) loans come into play. SBA loans are specifically designed to support small business owners in various ways. Two of the most popular options are the SBA 7a and 504 loans.

SBA 7a Loans: SBA 7a loans are versatile and can be used for a wide range of business purposes, making them a top choice for entrepreneurs. Whether you need to finance working capital, purchase equipment, or expand your business, the 7a loan program has you covered. These loans are backed by the SBA, which means lenders are more willing to extend credit to small businesses that may not qualify for traditional bank loans. With favorable terms and competitive interest rates, 7a loans provide a lifeline to small business owners, helping them achieve their goals.

SBA 504 Loans: On the other hand, SBA 504 loans are a perfect fit for entrepreneurs looking to invest in long-term assets such as equipment, real estate, or even construction. These loans are a partnership between a Certified Development Company (CDC) and a traditional lender. The SBA guarantees up to 40% of the loan, which significantly reduces the risk for lenders, leading to lower interest rates and more favorable terms for small business owners. SBA 504 loans are a powerful tool for small businesses with a vision for growth, as they offer substantial financing while preserving working capital.

Both SBA 7a and 504 loans share the common goal of empowering small businesses with affordable financing solutions. However, they cater to different needs, providing small business owners with the flexibility to choose the option that aligns with their specific requirements.

Small business owners can access these loans through experienced financial service providers, such as the M Commercial Capital Group. These professionals specialize in assisting businesses in obtaining SBA loans, simplifying the application process, and increasing the chances of approval. Their expertise ensures that entrepreneurs receive the right loan for their needs, whether it's the versatile SBA 7a or the asset-focused SBA 504 loan.

In conclusion, SBA 7a and 504 loans are invaluable resources for small business owners seeking financial support. These programs not only fuel small business success but also contribute to economic growth. By partnering with experts like the M Commercial Capital Group, entrepreneurs can navigate the world of SBA loans with confidence, knowing that they have the financial support they need to achieve their business goals. Small businesses are the backbone of our economy, and SBA loans play a crucial role in ensuring their continued success.

[pncinc]

Our PCB assembly Illinois firm has been providing IPC-610-compliant, high-quality, on-time, affordably-priced circuit board assemblies for the better part of the last fifty years. We are also AS9100D certified and SBA and ITAR registered. New certifications and approvals for the business include MIL-PRF-55110, MIL-PRF-31032, ITAR, and ISO-9001D. Not only does PNC employ people who have certifications like IPC-A-600 and IPC-A-610, but the company also has an in-house trainer who helps other employees get certified as well (J-STD-001, for example).

[andrewpdoro]

Why Veteran-Owned Businesses Are Beneficial to the Economy

Veteran-owned companies are a significant economic force in a more competitive world than ever. Their success is a result of the abilities and leadership they hone while serving in the military and their commitment to the local community.

They are a fantastic illustration of what can be done when residents work together to support local companies and communities. This simple act can have a big effect and strengthen our nation.

Small business communities are at the forefront of economic development and employment creation. In actuality, they account for 44% of all economic activity in the US.

Leadership qualities and a feeling of the mission are just two of the many skills learned in the military that are transferable to the business world—these qualities, combined with focus, aid veterans in overcoming various difficulties as business owners.

These abilities are crucial for creating a successful, flourishing company. Additionally, they help soldiers compete more successfully in the job market.

Veterans face some particular difficulties, but they also offer a wealth of knowledge and experience to the small business world. They achieve success and outlast other small companies because of this.

Businesses run by veterans tend to be more successful than other companies, which benefits the economy. They are typically more dependable and have a superior track record for handling government contracts.

They also have a higher probability of having a solid support structure. They also command the public's regard and are adept at completing tasks.

You might be qualified to become certified as a VOSB regardless of whether you're a veteran looking to launch a company or have a small business you'd like to expand. You will be able to use this certification to obtain funding and contracts from the government that is only available to veteran-owned companies.

The SBA has set a target of giving small companies owned by service members with disabilities 3% of federal contracts. (SDVOSB). This implies that numerous government agencies have committed to purchasing from these businesses a portion of their work each year, creating many opportunities for those who meet the requirements.

The federal government spends billions of dollars on goods and services provided by private businesses. Veteran-owned companies have access to this purchasing power and may have a higher chance of winning government contracts than non-veteran-owned firms.

One of the biggest buyers in the globe, the Department of Veterans Affairs, spends about $3 billion annually with veteran-owned companies.

You must prove your veteran status and fulfill additional requirements to be eligible for government contracting opportunities. Fortunately, you can navigate the verification process with the VA's helpful website and personal assistance counselors.

Additionally, you can seek to be recognized as a Service-Disabled Veteran-Owned Small Business Enterprise (Veteran-Owned Small Business, or VOSB). (SDVOSB). You must own at least 51% of the business and be able to manage day-to-day operations and make strategic choices to be certified.

Access to government assistance is one of the veteran-owned companies' most important advantages over non-veteran businesses. Some examples are access to money, resources, and lucrative government contracts designated just for them.

The Small Business Administration (SBA) provides various support options for veteran-owned companies. These include specialized curricula, live workshops, and online programs instructing entrepreneurship basics.

Through its Opens in new windowLender Match Tool, the SBA also offers funding options for veterans. Another fantastic opportunity for veterans is the Military Reservist Economic Injury Disaster Loan Program (MREIDL), which provides loans to businesses if a key employee is called to active service in the military and is lost.

[ryanshtech]

SBA Certified Companies | Ryansh Tech

Ryansh Tech is a trusted provider of IT solutions for SBA certified companies. Our cutting-edge technology and personalized approach help small businesses thrive in today's competitive market. With our expertise and dedication, you can count on us to deliver top-notch services tailored to your unique needs.

Click Here: https://ryanshtech.com/

[directpeakaccountants]

How Much Should It Cost to Hire an Accountant for a Small Business?

Do you feel like you're getting ripped off by your small company accountant's fees? Determine what the appropriate costs are and whether or not you are spending too much.

Hiring a competent accountant can allow you to save time and effort while organizing the financial aspects of your start-up or small business. They will take care of the necessary financial obligations, allowing you to concentrate on building your business. It is essential that you are aware of the cost of an accountant for a small business prior to employing one in order to guarantee that you are getting a fair bargain.

Accountants that specialize in working with small businesses provide assistance to millions of business owners in starting, operating, and expanding their fledgling companies into profitable enterprises. An accountant is valuable to the operations of your company because of the wide range of activities that fall under their purview, including the provision of skilled financial advice.

It is not difficult to just agree to and pay the accounting costs that they want, regardless of whether they are assessed on a weekly, monthly, quarterly, or annual basis. On the other hand, if you have never worked with accountants in the past, you could be concerned that you are paying an excessive amount. This article will assist you in determining whether or not the costs charged by your small company accountant are excessive.

How much does it cost to hire an accountant?

It is possible for the hourly rate of a certified public accountant (CPA) to range anywhere from $150 to $450, depending on the nature of the work that is being performed 1. You should expect to pay anywhere from $30 to $90 per hour for bookkeeping services performed by a professional with less-than-ideal experience.

The price that an accountant will charge your company often depends on a number of criteria, including the types of services they offer, their level of expertise, where they are located, and the requirements of the project. It may also depend on how they charge, which is one of the most crucial topics to ask your tax professional because it might be an hourly rate, a monthly rate, or a flat price.

Researching your competitors to find out how much they pay in legal and accounting costs is an excellent method to estimate the typical cost of hiring an accountant for a small business. This is also a good technique to determine the average cost of hiring an accountant. Because no two companies are exactly the same, the prices that you charge will differ depending on aspects such as the sector in which your company operates and the particular requirements of your company. However, knowing the averages might provide you with a cost range that you can use as a guide.

SCORE, a resource partner of the Small Business Administration (SBA), determined the annual amount of money spent by small business owners on accounting. The information that they discovered in 20153 is as follows:

23% of small business owners have annual revenue of $1,000 or less.

$1,000 – $5,000: 31%

$5,000 – $10,000: 18%

$10,000 – $20,000: 12%

or more than 20,000 dollars: 16%

This information includes the amounts that proprietors of small businesses spend on:

Expenses associated with accounting administration

Internal expenditures

Legal expenses

The majority of owners of small businesses reported spending between $1,000 and $5,000 monthly. If your accounting costs are more than this, you may want to reconsider your requirements in this area.

What Kinds of Accounting Duties Do You Require?

As your company expands, the process of handling the accounting for your small business may become more difficult and time demanding. Evaluate the responsibilities that an accountant will need to do for you. Some aspects of bookkeeping require more time and money than others to complete. It's possible that your accounting rates will increase depending on the specific expertise you demand from your accountant.

Accountants are able to assist with a wide variety of responsibilities relating to your company. The following are some common ones:

Managing your books

Budgeting

deciding what kind of organization to set up

The process of financing your company

The planning of taxes

71% of small businesses, according to research compiled specifically for small enterprises, outsource at least one accounting task4. Whether it's payroll issues, cash flow problems, or tax problems, the costs associated with each vary depending on the intricacy of the situation and the amount of time it takes to resolve it.

In-house accountants are employed by certain owners of small businesses who require the services of accountants to manage all of their accounting responsibilities. Depending on your needs, an in-house accountant might work either part or full-time, which would imply that they would be added to your payroll and get a salary from your company. For some people, it may be more cost-efficient to hire an outside accountant and collaborate with them on an as-needed basis, typically paying them on an hourly basis.

When exactly do you require the services of a bookkeeper?

If you only need assistance with basic accounting responsibilities, hiring a bookkeeper may be the best option for you. Their primary responsibility is to maintain an accurate record of everyday business transactions and financial activities rather than to provide the kind of analysis and guidance that an accountant would. The following are examples of common responsibilities bookkeepers have:

Keeping track of, as well as managing, the payroll, bills, and invoices

Keeping an eye on the flow of cash

Budgeting

Processing financial dealings with customers and vendors

Data entry

The rate of pay for a bookkeeper normally ranges from $30 to $50 per hour5. Since the cost of this service is far lower than that of a certified public accountant (CPA), it can be a better choice for a small business that merely needs its financial transactions recorded.

How are the Fees for Accountants Serving Small Businesses Structured?

There are typically three primary pricing systems that accountants utilize when dealing with small firms, and these are as follows:

A rate per hour is what your accountant will charge your company for each hour that they spend working on any accounting chores that have been agreed upon.

Your accountant will provide you with an estimate of the amount of time it should take and the overall cost before beginning work on a single or several projects. This estimate will be presented to you in the form of a flat fee.

A monthly payment plan is referred to as an ongoing rate. If you utilize the accountant throughout the year and pay their fees on a monthly basis, you are using an ongoing rate. This might make it simple to consider while calculating your overhead costs.

It might be difficult to compare the rates charged by different types of small business accountants because they each structure their fees differently. Consider all of your alternatives and make a rough estimate of the fees you will have to pay an accountant by comparing the various pricing structures; some accounting firms even provide initial consultations at no cost. Do some comparison shopping if you believe you might be able to find a better deal with another accountant.

Is It Possible to Decrease Your Accounting Fees If You Do Some of the Work Yourself?

Doing part of the accounting work yourself is, indeed, one of the most effective strategies for a small business to save the expense of hiring an accountant. Because of this, you will be able to delegate fewer responsibilities to them, which will result in reduced service costs. This is how many owners of start-ups and small businesses get their businesses off the ground, but as your company expands, it can eat up your valuable time.

There are a lot of good reasons to get a professional accountant, but there are some accounting activities that you might be able to handle on your own. These can include more fundamental tasks in bookkeeping, such as:

Taking care of overdue invoices

Tracking bills

Keeping an eye on the flow of cash

Keeping track of both your payables and your receivables

Budgeting on a monthly, quarterly, and annual basis

Using accounting software is one approach to achieving this goal. Accounting software is used by around 65 per cent of all small businesses6. This is commonly used as a tool to assist in the management of books, the tracking of expenses and income, the creation of invoices, and other similar tasks. It is possible that your accountant's fees will be reduced as a result of the elimination of some of the work that is required of them.

The software can perform the task of determining figures for you at a fraction of the cost of hiring an accountant or bookkeeper to do so. Then, when you need someone to handle the more sophisticated tasks, you can give your books over to your accountant and let them take care of it. You may save both time and money by automating and streamlining your accounting procedures with software.

Is It Excessively Expensive to Employ an Accountant for Your Small Business?

It is highly dependent on the number of costs for small business accounting services that you are already paying as well as the particular financial requirements of your organization. Some companies require the services of accountants to manage a greater proportion of their financial affairs than others. You should regularly examine your expenses in light of the possibility that your requirements will shift.

If the hourly or project rates that you pay for legal and accounting services are on the higher end, or if your accountant accounts for the majority of your spending, you may be paying more than necessary. Shop around and compare the prices of different accountants; also take their level of experience, pricing structure, and expertise into consideration. When you compare the fees you pay to those charged by other businesses in your sector, it becomes clear whether or not your own charges are excessive.

Utilize accounting software to handle as much of your accounting chores as you possibly can. Because of this, the number of jobs that require the assistance of an accountant will decrease, which will result in cost savings for you.

If you need the expertise of a competent small business accountant, look no further than Direct Peak Accountants We are a team of professional and experienced accountants dedicated to providing you with quality, affordable services. With our guidance and support, anyone can navigate the complexities of running a successful business. We guarantee that our services will help you maximize your profits and minimize taxes. Our team of talented accountants can provide you with comprehensive financial advice and strategies, tailored to your unique situation. Contact us today to find out how we can help your business succeed!

[iplook-networks]

Interview with the 1st AWS Certified Solutions Architect — Associate in IPLOOK

Congratulations to the first AWS Certified Solutions Architect - Associate in IPLOOK! Max Guo, Technical Support Engineer, is qualified for designing resilient, high-performing and cost-optimized cloud network architectures. In this interview, Max shares what he prepared for receiving the certification of AWS SAA and how he believes AWS cloud’s strengths lie in the telecom market for telcos.

Q: Could you please introduce your job in IPLOOK?

Max: My role in IPLOOK is a technical engineer of the Global Technical Service Department. We provide professional service and managed service to customers, including technical solutions, implementation, maintenance, and technical training.

Q: Do you have any projects or experiences with AWS cloud platform?

Max: IPLOOK’s core network can be deployed on AWS perfectly. Therefore, even though I have more project experience on X86 server than AWS Cloud, I have opportunities to study a lot of core network practices on cloud platforms and do experiments.

Q: What’s your purpose or motivation for AWS Certified Solutions Architect? What enhancement do you think this recognition will have on your capability and work?

Max: As a technical engineer, it is necessary to understand the latest technologies. Furthermore, cloud computing technology can fit well with our core network products. Personally, I am also interested in learning cloud computing. These factors motivate me to take the AWS SAA certification. This recognition proves that I can undertake related cloud network deployment. During the preparation, I learnt the principles, applications, and extensions of cloud computing, which enable me to provide better technical services for customers with cloud platforms in the future.

Q: How can you receive the certification? Is that difficult for a core network engineer?

Max: That’s easy for me! The exam mainly covers high-performance computing, networking, storage, security, and best practices on the cloud platform. To receive the certification, I list following steps for your reference: Step 1: Create your own AWS account, so you can enjoy its free package of 700 hours per month. It contains more than enough services for the usual experiments. Step 2: Explore resources on the internet, and follow the guide for practical exercises, which will make you more impressed. Step 3: Do simulated exams to test your learning results and get ready for the exam! The knowledge you gained from this process is the most dazzling badge.

Q: As we know there are some companies are providing 4G or 5G core networks on cloud. What's your opinion on that?

Max: Actually, 5G carries the gene of cloud computing from its inception. The SBA architecture allows the 5G core network (5GC) to focus more on the services. Speaking of services, we must figure out one of the most important concepts of cloud computing - software as a service (SAAS). The core network is essentially a software service, and cloud computing or traditional servers are just a way to implement the service. From market perspective, we will tend to choose the option that creates more values. Compared to traditional servers, cloud core network has following advantages: 1. Lower CAPEX and reduce time-to-market: · Deploy cost-effective core networks with the pay-as-you-go model · Achieve on-demand replication · Enhance the resource utilization · Reduce the cost of O&M with the cloud hosting model 2. High reliability: Multiple backups provide up to 99.99999999999% reliability 3. High performance: Large bandwidth, low packet loss, low latency (end-to-end latency <20ms in most regions). 4. High security: Cloud platform has richer security measures and stronger encryption capabilities.

Q: How to combine IPLOOK’s core network with AWS cloud platform? What will the combination bring to customers?

Max: There are excellent cases in the industry where the combination of core network and cloud platform has been used. IPLOOK’s core network elements have been tested and validated on all major cloud platforms. We can provide carrier-grade core networks on cloud. Depending on the customer's requirements we can deploy the core network control plane on the cloud, and sink the data plane to the customer's local area. This architecture ensures a cost-saving solution for low latency user experience.

Q: As for deploying core network based on AWS cloud services. What aspects do you think can be improved for cloud-network convergence, to better meet both the commercial and technical demand from telcos?

Max: Deploying IPLOOK 5G core on AWS offers a simplified and faster 5G network deployment at a lower cost. To better satisfy customers' needs, two main aspects should be noticed in the future: · Enhance the network capabilities, especially the capability of network elements in the data plane to forward data in core network. · Enhance the unified operations and maintenance between cloud platform and local network. Regarding the cost caused by massive data transfer out for cloud network deployment, we hope that AWS will optimize the pricing policy in the future.

Q: If AWS is not a good choice for small FWA providers, why do big operators choose AWS?

Max: Well. The big MNOs can choose different solutions on AWS. For example, DISH in the US is using Outpost for 5G core network. The AWS Outpost integrated virtualized computing, networking, security and orchestration. That’s excellent! Between different sites we can use AWS Wavelength as DCI. The data throughput between core network and eNodeB/gNodeB could be carried by local optical or microwave transportation networks. I hope we can deploy IPLOOK’s core network with AWS Outpost for customers soon.

[petnews2day]

How Long Do You Have To Wait For SBA Loan Approval? – Forbes Advisor

New Post has been published on https://petnews2day.com/pet-industry-news/pet-financial-news/how-long-do-you-have-to-wait-for-sba-loan-approval-forbes-advisor/

How Long Do You Have To Wait For SBA Loan Approval? – Forbes Advisor

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.

The U.S. Small Business Administration (SBA) helps business owners access the funds they need to get their businesses off the ground, expand and succeed. These loans are often easier to qualify for than some traditional loans. Still, SBA loan approval and funding can take much longer than most loans—often anywhere from 60 to 90 days. For that reason, SBA loans aren’t the right choice for business owners who need cash quickly.

Here’s what you need to know about SBA loan approval times and how they compare to other business financing options.

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$5,000 to $250,000

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$5,000 to $500,000

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Overview of SBA Loans

The SBA doesn’t lend money directly to small business owners. Instead, the SBA guarantees up to 85% of the loan amount, depending on the loan program and amount. This reduces the risk of loaning money to applicants and encourages SBA-approved lenders to work with small business applicants they might not otherwise approve. That said, there are several SBA loan programs, each with unique eligibility requirements and terms:

SBA 7(a) loans: The SBA 7(a) program offers several types of loans up to $5 million available for various business purposes. Standard 7(a) loans and small 7(a) loans come with SBA turnaround times between five and 10 business days, but the process takes longer.

SBA Express loans: SBA Express loans are available for up to $500,000, with repayment terms of up to 25 years for real estate and five to 10 years for other loan types. Express loans fall under the 7(a) umbrella; however, the program offers accelerated approval times. Individual lenders make eligibility decisions, but the SBA turnaround time is just 36 hours.

Certified Development Company (CDC)/504 loans: CDC/504 loans can be used to purchase equipment and real estate. Loans are available for up to $5 million, with 10- and 20-year repayment terms.

SBA microloans: Microloans max out at $50,000, though the average microloan is just $13,000. The minimum repayment term is six years, and interest rates range from 8% to 13%.

While SBA loans can be easier to qualify for than other types of business financing, the application process is extensive. You must provide comprehensive documentation, including a business plan, copies of business and personal tax returns, business balance sheets, profit and loss statements and a list of current business debts.

How to Get Approved for an SBA Loan

The SBA loan approval process takes 30 to 90 days from application to funding. However, this time frame varies by lender and loan type. The exact steps for getting an SBA loan can also differ from lender to lender, but there are a few general stages in the approval process:

Loan application. The SBA loan application process is more demanding than traditional lenders, and prospective borrowers must submit extensive supporting documents. For this reason, application preparation can take as long as 30 days. However, you can complete an application more quickly if you have already gathered the necessary documentation.

Application review and underwriting. After an application is submitted, the lender will review your credit score and financials. This process typically takes between 10 and 14 days, including the underwriting process, but can take longer for lenders that aren’t in the SBA’s Preferred Lenders Program. Likewise, if collateral is required, the lender may order an appraisal during the underwriting process. Based on this review, the lender determines the loan amount and interest rate you qualify for.

Loan agreement. Following approval, it typically takes 10 to 21 days for the lender to prepare the loan agreement and commitment letter. During this time, you should review the loan agreement to ensure that all terms are acceptable.

Closing and funding. Closing and funding generally occur seven to 14 days after finalizing the loan amount, repayment term and interest rate in the commitment letter. If the lender contacts you with questions or additional requests during this period, respond quickly to keep the process moving.

How Will I Know If My SBA Loan Is Approved?

If your loan is approved, the SBA will send you an email with loan details. Contact the SBA directly if you have not received an email and want to check your application status. Depending on your lender, you may also be able to check your application status online or by contacting your loan officer.

How Long Does It Take to Get SBA Loan Funds After an Approval?

After an SBA loan is approved, it usually takes around five days for the lender to disburse loan funds—but it can take up to 14 days. That said, the actual amount of time it takes for you to receive loan proceeds depends on the lender and the business’ bank.

SBA Loan Process vs. Other Business Loans

Lengthy SBA loan approval times do not align with every small business owner’s borrowing needs. Other business loans can provide funds more quickly and, sometimes, with less stringent application requirements. Here’s how the SBA loan process compares to some other common financing options:

Business lines of credit. A business line of credit lets you draw on funds as needed and only pay interest on the amount borrowed. Approval times are shorter than for an SBA loan, with funds sometimes available in as few as 24 hours after submitting an application. Business lines of credit generally have lower borrowing limits than SBA loans, but they’re revolving so you can access the money again after the balance is paid off.

Online loans. Several online lenders offer business loans with quick approval times—sometimes as soon as the same day. These lenders often work with businesses that may not qualify for financing from a traditional bank. However, online loans tend to have higher interest rates and shorter repayment terms than SBA loans.

Equipment financing. Equipment financing is a type of business loan business owners can use to purchase equipment or machinery. These loans typically have shorter repayment terms than SBA loans and may also have higher interest rates. Financing may be available in just 24 hours or take up to several weeks.

Alternative loans. Alternative loans are another type of financing that can have quick approval times, some with same-day approval. These loans are available from many online lenders and are used for a variety of purposes, including working capital, equipment financing and expansion. However, alternative loans also tend to have higher interest rates than SBA loans.

Personal loans. Getting a personal loan can be much faster than getting an SBA loan, as the application process is generally more straightforward and approval times are shorter. However, personal loans typically have shorter repayment terms and higher interest rates than SBA loans. Plus, some lenders restrict the use of personal loans for business purposes.

Find the Best Small Business Loans of 2022

[texaswexasnews]

How to obtain certification for minority-owned businesses ?

How to obtain minority-owned businesses certification?

Governments and businesses all around the country frequently reserve a portion of their contract budgets solely for minority-owned enterprises. These organisations want to make sure they are contributing to the effort to support a diverse range of vendors who more accurately reflect all communities.

However, a company should look to obtain an official certification if it wants its operation to be publicly acknowledged as a minority-owned corporation or firm. This demonstrates both that the company is credibly founded and that it is prepared to collaborate with significant public and private organisations.

Learn how to become certified as a minority-owned businesses certification in the sections below, along with how having this certification can help a company land more contracts with big businesses and the government.

A minority-owned firm may seek certification from additional organisations in addition to the NMSDC, such as the Small Business Administration (SBA) or certain towns and states where it is located.

The SBA gives a certification specifically referred to as 8 (a). The federal government aims to give at least 5% of contracting dollars to companies with the 8(a) classification, making them eligible to obtain federal contracts that are designated for "small disadvantaged firms." Federal laws state that any enterprises with 51% minority ownership are likely qualified, even though 8(a) businesses are not required to be minority-owned.

Ohio is an illustration of a state that has its own certification procedure for minority business enterprises (MBEs). Once

It's a good idea to get certified as a minority-owned business if you run a business. Being certified immediately boosts your company's appeal because certification is a requirement for doing business with and purchasing from minority-owned businesses certification by government organisations and corporations.

Companies seek to work with minority-owned firms because they recognise the significant purchasing power of minorities in the United States. And it goes without saying that they must support their businesses in return if they want minorities to buy their goods and services.

Because they understand that by doing so, federal officials will contribute to the development of a sustainable economic environment in the nation.

Now that you are aware of the advantages of having a minority-owned firm, it is time to consider how you might obtain formal The Department of Transportation (DOT) mandates that contracts awarded to minority-owned enterprises must account for at least 10% of their budget. As a result, state agencies as well as departments that receive funding from the DOT must create initiatives for disadvantaged businesses. Every DBE must set annual objectives that cover contracting out work as well as particular subcontracting objectives.

You must go via your state's department of transportation to be recognised as a DBE. There is a DBE Site for each agency. The websites for all state departments of transportation and the DBE Program are listed below. Your company will be placed on the DBE directory once you have been authorised as a DBE. If you are a minority business owner, it is a good idea to obtain certified as a DBE.

Minority business owners are helped by the U.S. Department of Commerce's Minority Business Development Agency (MBDA). Minority enterprises have received contracts worth an average of $49 million thanks to the MBDA. The organisation works with companies that have received National Minority Supplier Development Council certification. For minority business owners looking to connect with government contracting opportunities, the MBDA provides a wealth of resources.

The MBDA has offices all around the nation. The commercial hubs are situated in locations with a significant minority population. A list of business centres is available here. You must first sign up for the MBDA Online Business Applications in order to access MBDA opportunities. By creating an account on their website, MBDA.gov, you can access the tool.

Minority-owned firms are not certified by the Small Business Administration. However, their 8(a) Business Development Program helps minority-owned enterprises access possibilities for government contracting. Contracts worth up to $4 million for products and services and up to $6.5 million for manufacturing are available to recipients. The ability of individuals chosen for the programme to form joint ventures with one another in order to submit bids for contracts is a huge advantage. Minority business owners receive assistance from the Department of Commerce's Minority Business Development Agency (M… In order to guarantee supplier diversity in the business sector, the National Minority Supplier Development Council (NMSDC) is regarded as the gold standard. For companies looking to collaborate on contract projects with private corporations, this certification programme is excellent.

A Minority Business Enterprise is typically defined as a company that is at least 51 percent owned and operated by an individual who is a U.S. citizen and is at least 25 percent of African American, Asian American, Pacific Islander, Latinx or Hispanic, or Native American descent. In addition to the MBE certification, the NMSDC offers opportunities for you to access financial and educational resources and broaden your professional networks. If the business is publicly listed, t… The Women's Business Enterprise National Council (WBENC) is a nonprofit organisation that offers the most well-known certification for women-owned businesses in the nation, despite the fact that the NMSDC lacks credentials particularly for these enterprises.

Similar to the NMSDC programme, certification has advantages like access to a network of other private-sector businesses and the chance to connect with procurement executives at significant corporations. Additionally offered are marketing support and assistance with education.

Women-owned businesses still need to meet the SBA 8(a) program's requirements to qualify as being economically disadvantaged. To determine if you are eligible, look at the examples in this part of the Code of Federal Regulations.… Minority business owners have historically had trouble obtaining business funding and landing significant contracts. The Paycheck Protection Program's initial round during the epidemic also had problems with equal distribution of PPP monies to minority small firms.

You will have access to advantageous contract opportunities, marketing support, and other beneficial resources like business training and mentorship if you are a qualified MBE.

While the NMSDC doesn't have certifications specifically for women-owned businesses, the Women's Business Enterprise National Council (WBENC) is a non-profit organisation that offers the most well-known certification for women-owned businesses. If you're looking for more information on funding for minority-owned businesses, be sure to check out our guide to business funding for minorities.

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What is the minority-owned business certification cost in Texas USA

A minority business enterprise: what is it? Any company that is at least 51% owned and operated by a person who is also at least 25% of African American, Asian American, Pacific Islander, Latino, Hispanic, or Native American ancestry is considered a minority business enterprise.

Additionally, it must be a for-profit business with a physical presence in the United States or one of its territories. The organization's day-to-day management and operations must also involve the minority owners.

What Motivates Minority Business Enterprise Certification? There are many reasons why you would wish to think about getting an MBE certification. You can benefit from them if you get one, also the minority-owned business certification cost is very low you can get it easily whosoever is eligible for it.

Build a Larger Network You can collaborate with other minority-owned companies and take advantage of partnership and joint-venture opportunities. You may take your company to the next level by doing this.

Enhance Your Skills and Knowledge You understand the value of information as a small business owner. You are eligible to take part in technical training and mentorship programs as an MBE in professional development initiatives.

Federal Land Contracts A certification can enable you to compete for contracts because government organizations are required to award MBEs a specified number of contracts. This may result in fresh, rewarding opportunities.

Safe Financing There are numerous initiatives aimed at providing funding support for MBEs. Grants and company loans may be available to you, giving you the funding you need to be successful.

How to Obtain a Minority Business Enterprise Certification There are numerous ways to get an MBE certified. You might want to think about the most popular programs, which include:

The Council for the Development of National Minority Suppliers (NMSDC) State and local initiatives run by the Small Business Administration (SBA)

You must submit a number of documents to be considered for certification, including:

Constitutional documents ownership contracts Bylaws evidence of each owner's U.S. citizenship evidence of broad liability coverage Security deeds or lease agreements copies of each owner's principals' driving records, resumes, and licenses void commercial checks

Become a certified minority-owned business, in summary.

There is no reason not to apply for certification as a recognized minority-owned business if you match the requirements. You have nothing to lose because the application process is simple and the cost is reasonable. You can benefit from a variety of benefits and position your company for unrivaled levels of success by becoming certified. Cocolevio is one of the best companies which helps to get minority-owned business certification in the USA at a low cost.

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How and Why to Support Veteran-Owned Businesses

You should consider purchasing from and supporting veteran-owned companies, whether you are a veteran or just someone who wants to help your neighbourhood. Doing this has a lot of advantages. Supporting the veteran community by shopping at veteran-owned establishments is a terrific idea. These companies were established to aid veterans in their transition from active duty to civilian life and offer them various educational and spiritual assistance. Additionally, you may help in promoting these companies.

A Michigan-based startup, Ugly Dog Distillery, makes vodka and gin in tiny batches. The business also provides odd tastes like Michigan Cherry Bourbon and Bacon Vodka. A former Navy Seal and his wife own the company. They contribute a percentage of their earnings to organizations and military charities that seek to stop veteran suicide.

A veteran-owned company called Pressed - A Creative Space first opened as a physical location in the heart of Fayetteville, North Carolina. The shop sells jewellery, accessories for the house, and other goods. The business now offers an online store in addition to its physical presence. Additionally, a participant in the Veteran-Owned Business Project is Pressed - A Creative Space. This effort, which the National Veteran-Owned Business Association started, enables veteran-owned firms to display the Certified Veteran-Owned emblem.

You probably haven't heard of it unless you work in the military industry. While there are many veteran-owned businesses, the great majority are run by individuals fortunate enough to serve their nation by serving time in the military. Rumi Spice is one such organization. The business is skilled in locating and showcasing high-quality, small-batch spices and herbs worldwide. The company transports its products often and operates roasting plants all around the nation. Rumi is the official spice of the military, and for a good reason. I would like to understand more about this excellent business. The National Veteran-Owned Firm Association also performed a modest study in the form of a poll. The results showed that around 70% of all respondents would favour a veteran-owned business over its competitors.

The survey's use of a sample size of more than 220 veteran-run firms is its strongest feature. Several statistical tests were used to assess the data. The findings showed that while a tiny fraction of all veteran-owned enterprises were top-notch, a significant majority were less than stellar.

Obtaining the highly sought-after business cards is no easy task, but the SBA has your back with programs, including loans, insurance, and microloans. Its members include experienced small business owners recently coming home from the front lines. The icing on the cake of a prosperous entrepreneurial enterprise has the SBA as your sponsor. Applying for a business loan or a loan from your neighbourhood credit union is easy, but preparing ahead is essential. This is particularly true for startups and small companies seeking to understand the credit card market or grow. Your banker may also be a useful source of advice because they are skilled at many other things.

Several programs and services are available to assist you in launching a business, whether you are a veteran or not. For seasoned business owners, the Small Firm Administration (SBA) provides various services, including certification of your small business. It also keeps track of a list of needed paperwork. You can also benefit from other initiatives like the Veterans Entrepreneurship Program. These programs are intended to assist you in starting and expanding your business.

Registering with the SBA is one of the first steps to starting a veteran-owned business. Your application and any accompanying materials can be submitted online. Once your application has been accepted, you must recertify your status at least once a year. Additionally, you must keep track of your company ownership in writing and your active duty. Public ownership must be at least 51% of a company's total ownership. ZenBusiness is one of the services you may use to launch and expand your business.

You can participate in the VA VIP Verification Program if you are a veteran. This program is intended to ensure that you give the SBA accurate information. You must pass an exam and disclose any changes to your circumstances to participate in VIP. There are two parts to this process.

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