My American Benefits Plan - How To Get An SBA Loan

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Web Service Assessment That Helps
Choose Right Team Members Gets SBA Loan
How To Get An SBA Loan

Dr. Janice Presser
CEO
The Gabriel Institute
Philadelphia, PA
https://www.thegabrielinstitute.com/

Lynn Ozer
Executive Vice President
Government Guaranteed Lending
Susquehanna Bank
Pottstown, PA
www.susquehanna.net

Interview Highlights

Lynn Ozer worked for SBA for 5 years right out of college and is now with Susquehanna Bank.

She has been handling SBA and Dept of Agriculture loans for the last 30 years.

Dr. Janice Presser has created a online behavioral assessment tool for teaming relationships

She started 35 years ago with the idea of How People Work Together

She helps people decide who would be a good fit on a team

Its taken 25 years of research and 9½ years of development

People visit their web site and it helps them understand the relationships of people in the team and how to use them better, or how to build a team

How you understand people should drive how you respect them

If you don't have respect for them they won't perform well.

Each person is able to understand how valuable they are to the team

Lynn also took the test and when she saw the results she said, "How In The World Did They Know That? - Only people who really, really know her would know those things

It shows how you work with different people

From a human resource perspective this is "Genius"

The report is only $80

One hour with a therapist is more than $80

It's great for job seekers and for employers

The manager gets an interpretation of the report and the person taking the test also gets a report

THE BIGGEST MISCONCEPTION ABOUT SBA loans is that it takes a million years and lots of paperwork

You should make sure that you are working with a bank that has an SBA specialist

You can go to a local SBA office a get a list of the top 10 lending institutions in your area

Certain banks prefer to lend to certain industries, like certain banks don't do start ups, some don't do smaller than $100,000, some will do real estate and some will not, etc

Janice went through 3 banks before she found a good one

IF ONE BANK TURNS YOU DOWN, it does not mean you cannot get an SBA loan

The National Association of Government Guaranteed Lenders http://www.naggl.org/ can also get information on banks that can help

Find someone who has an SBA loan and ask their experience

Information on people who get SBA loans is public information

There is more SBA lending when the economy is bad

SBA LOANS ARE FOR PEOPLE WHO CAN NOT GET REASONABLE RATES ELSEWHERE

The payments are lower than regular loans

If the loan is bad the bank covers 25% and the government covers 75%

Look for lenders that are "PREFERRED", they are able to get the "guarantee" directly which makes the process shorter

The information you need depends on if you are a start up or on-going business

They help complete the government paperwork for you