SBA Loans ‘ Small Business Administration Loans

Bank of Commerce is recognized as a Preferred Lender by the U.S. Small Business Administration. Unique, and sometimes additional, Standard Operating Procedures (SOP) requirements for core export loans vs. other 7(a) loan products can confuse lenders and may require the creation of Lender Training Manuals,” more extensive lender training, and Office of Capital Access support in implementing needed SOP revisions.small business administration

Service-Disabled Veteran-Owned Business Designation – This establishes an annual government-wide goal of not less than 3% of the total value of all prime and subcontract awards for participation by small businesses owned by service-disabled veterans.

While the government strives to balance affordability with opportunity, SBA engages with agencies to continue to promote broader competitive opportunities to ensure the health of the small business industrial base is not adversely affected due to strategic sourcing or consolidating requirements and to protect small business from contract bundling.

The mission of the Office of Business Development is to execute activities authorized under Sections 8(a) and 7(j) of the Small Business Act to provide business development assistance to firms that are owned and controlled by economically and socially disadvantaged individuals.small business administration

Apart from the necessary documents, you would also need to present at the bank all the SBA requirements such as the SBA loan application, a personal financial statement, a good business plan, 3 years of business financial statements, 3 years of federal business tax returns, information about all owners and detailed information on how the business would benefit from the loan.small business administration