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Are you Business Loan Ready? – 7 Great Business Loan Providers

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Do you think you have everything you need to get a business loan? Specifically an SBA loan?

Have you checked your SBSS? Have you built your business credit? 

First things first, make sure to keep track of your business records as you go about building your business credit. 

Good records can help you minimize losses, manage cash, meet legal, regulatory, and tax obligations, and improve financial analytics. Our bookkeeping partner, Bench Accounting, will help you clean up your DIY books by maintaining clear records and prepare you for proper tax filing to avoid deadline penalties. 

If you have all these things checked off, then test yourself by filling out our BP Framework (for logged in SBO members), if you feel comfortable answering all the questions in the framework, and have everything needed, then head over to one of the following Small Business Loan Providers. 

Keep in mind that all of these business loan providers have their own requirements.

NAV is one of the most extensive networks of financial solutions for small businesses. Build a business’s credit, improve your credit scores, and get the best financing solutions for your small business with NAV.

Smart Biz – the leading AI-powered financing platform connecting small businesses with SBA, bank term loans, and flexible financing options. Consider SmartBiz and gain a soft credit pull on your personal credit. Create a single online SmartBiz Loans account to pre-qualify. There are currently no charges, no fees, or commissions for using SmartBiz.
With over 16,000 ratings, SmartBiz has a 4.6 out of 5 rating on Trustpilot. Many Trustpilot reviews highlight the excellent service offered by SmartBiz customer service representatives as well as the simple application process.

SBA Lender Match – Let the loan offers come to you.  SBA’s lender match process allows you to put your information in a portal for lenders to reach out to you, should you qualify for a loan.  You must have a business plan for this process, or lenders will not take you seriously.  Having a financial projection is very helpful as well.

Accion Opportunity Fund – a great small business loan platform for business owners with excellent credit.  They will conduct a soft credit pull on your credit for pre-qualification.  However, we’d suggest speaking to one of their business coaches before you apply.

UHEDC – a great non-profit SBA lender.  They will conduct a soft credit pull on your credit for pre-qualification.

United Midwest Savings Bank – Voted as one of the top 25 SBA Lenders Nation Wide.  They will conduct a hard pull for pre-approval, so make sure you are ready to apply.

Giggle Financea great online lending platform that helps small business owners and gig economy workers who earn 1099 income get quick access to up to $5,000.

Business Loans 101 - Are you SBA Loan Ready?

A&M Business Coach Note: The short list above is not in preference order, it is in alphabetical order.  There are many companies offering business loans for micro businesses, but we’ve found the ones mentioned as being straightforward with the most streamlined processes.

If you’d like to know which one would be best suited to your business status, feel free to reach out to a business coach. If you need info on Business Credit building, search “business credit” in the Ask Addy search bar. 

Well, that’s all for now! We hope this information is valuable to you. Come back in the future for updates on this and other topics.

Don’t forget to sign up for an Addy & Mark SBO membership to have access to all business resources. These include; coaches, rewards, new business owner resources, exclusive info sessions, webinars and more. 🏆

You can also schedule a 15-minute consultation to learn more about our services for your specific needs.🚀

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More business knowledge reads are available on our blog 📝

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Disclaimer: This article is for information purposes only hence not directly related to Addy and Mark in any way. Always check the official website for updated information.

Last Update: March 20th, 2024

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