Secrets To Getting A Government Loan For Any Business

This segment provides an introduction to the interview that follows:

You will learn the significance of the interview and the background of the people being interviewed.

• Lynn Ozer, Executive VP, Susquehanna Bank.....Lender who provides SBA Loans
• Janice Presser, CEO, The Gabriel Institute.... Entrepreneur who received SBA Loan

Describes the ins-and-outs of navigating SBA loans covering specifics like:

• Why SBA Loans are good in a bad economy
• How to apply to more than one bank
• Why payments are lower than regular loans
• What are the biggest misconceptions about SBA Loans
• How to identify "eligible lenders" who can make the process quicker
• How to use a SBA Loan to buy and existing business
• Why SBA loans are good for people who cannot get good rates from a bank

The kind of information contained in the interview includes the following:

• 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.
• SBA is also good for buying a business.

The topics covered in Part #2 include:

• Lynn Ozer worked for SBA for 5 years right out of college and now is with Susquehanna Bank.
• She has been handling SBA and Dept of Agriculture loans for the past 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".
• Dr. Presser helps people decide who would be a good fit on a team.
• Her research represents 25 years of work and nearly 10 years of development.
• People visit their website 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 everyone, they will not perform well.
• Each person needs to understand how valuable they are to the team.
• Ms. Ozer 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.
• This behavioral assessment tool shows how you work with different people.
• From a human resource perspective, this tool is "Genius".
• The report is only $80; One hour with a therapist costs more than that.
• This tool is 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.