LOS ANGELES, CA (PR Newswire) January 25, 2017: How much can I borrow with an SBA loan to buy a business? How much can I borrow to expand my company? How to use an SBA loan to buy a business? How to buy out your partner with an SBA loan? How to buy a building with an SBA loan? Now, you can easily find out.
YourSBA.com introduces a new suite of SBA Loan Calculators to help borrowers easily determine how much they may qualify for in order to buy a business with an SBA loan. The calculators help potential buyers determine how much they can borrow under the Small Business Administration’s 7(a) loan program for the purpose of buying a business. All new calculators let business owners know how much they can borrow to expand their business with an SBA loan.
The original SBA loan calculator became very popular with SBA borrowers, business brokers, commercial real estate professionals, loan brokers, business consultants and banks in 2014. Today, a completely new suite of calculators is available on the YourSBA.com website here.
“We’ve been watching how people use our popular SBA loan calculator and we completely updated our legacy calculator and added two new calculators,” says Michael Baumann, CEO and Founder of YourSBA.com, Inc. in Los Angeles. “We want business buyers to be able to quickly and easily determine if they are eligible to buy a business with an SBA 7(a) loan based on the capital sources available to them. We also want current business owners to know how much they can borrow based on cash flow and other sources.”
The new suite of powerful, mobile-friendly calculators includes:
Complete SBA Loan Calculator — Enter the proposed project details such as amounts required for buying the business, or goodwill; real estate; inventory; furniture, fixtures and equipment; working capital and other costs to receive a complete report of possible loan scenarios including terms, interest rate, monthly payments and even seller participation suggestions. This is the most sophisticated, complete, easy-to-use SBA loan calculator available. The complete SBA 7(a) loan funding calculator can be found here.
Simple SBA Loan Calculator — Simply enter the loan amount and receive an instant monthly payment amount with the ability to adjust, with mobile-friendly sliders, the default interest rate and terms. This easy-to-use loan calculator can be found here.
Total Funding Calculator — Enter the available down payment sources to determine the entire amount a business buyer may qualify for from the use of retirement funds, such as 401(k) and IRA, in addition to an SBA 7(a) loan. The total funding calculator can be found by business buyers here.
“We started offering a free retirement plan rollover program in 2017 for the users of our free SBA Lending Platform, YourEdge™, so it became necessary for us to develop a calculator which allows a borrower to determine the total amount they may qualify for when buying a business using both an SBA 7(a) loan and the proceeds from a retirement fund rollover, or ROBS, plan,” says Dr. Chet Skamiera, M.D., Director of Operations for YourSBA.com, Inc. in Los Angeles.
How Much Can I Borrow Calculator — As the name implies, this calculator will give current business owners an idea of how much they can borrow to expand their business, buy the building they’re in, buy out a business partner, buy a competitor or start a new location. This handy loan calculator can be found here.
About the SBA Loan Calculator Initiative: YourSBA.com maintains a suite of business funding calculators. The SaaS calculator platforms allow a buyer to determine the amount of down payment, or equity injection, required to buy a business using the US Small Business Administration’s 7(a) Loan Program. The calculators are the only of their kind in the industry. They calculate various scenarios based on the availability of cash and other down payment sources by the business buyer in addition to other equity injection sources such as a seller participation note. A new calculator, How Much Can I Borrow, determines the amount a current business owner may borrow to expand their company, buy out a business partner, buy the building they’re in or even buy a competitor.
About YourSBA.com, Inc.: The least expensive, easiest and highest approval rate starting place for SBA 7(a) loans over $350,000 starts here. YourSBA.com, Inc. is a registered California software company offering a tightly-integrated suite of SaaS (software as a service) platforms for SBA borrowers, business owners, business intermediaries, business professionals, loan brokers and banks. Their mission is to make the entire SBA lending process more secure and efficient for the borrower or business owner.
About Aspire for Business YourSBA.com Education Initiative: The mission is to educate potential business buyers how to get a loan to buy a business using the SBA 7(a) Loan Program. An SBA loan provides the ability for someone to buy a business with almost no money down or purchase an existing business with less-than-average credit. Aspire for Business teaches prospective buyers about the SBA loan and the down payment, or equity injection, choices and sources.