Great Basin Federal Credit Union - PowerPoint Presentation

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Great Basin Federal Credit Union

is honored to help you and yourbusiness prosper with our

Member Business Loans.

Great Basin Member Business Loans

Business Lines of Credit

Provides your company with flexibility for temporary and ongoing working capital needs. Allows you to re-borrow and repay as often as you require.Business Real Estate Loans

Whether you’re purchasing, constructing or renovating commercial real estate, we can provide longer terms. Asset Acquisition LoansTo help you purchase inventory, furniture, machinery, equipment, vehicles, business buyouts or other fixed assets for your business.Debt RefinancesDo you have existing business debt youwould like to refinance or consolidate?

What you’ll need to get started:

Business

Loan ApplicationPersonal Financial Statement Please

complete for all owners, principals and officers, signed and dated within the last 45 days. Management Resume(s) Please provide complete resumes on all individuals referred to in #2. History of Business FormThese forms are provided by Great Basin.

A feasible business plan

Monthly pro-forma income statement for 12 monthsPersonal tax returns for the most recent three years on all owners, principals and officersAdequate equity investment in the form of cash

Count on 25% of the total project (minimum)Can come from the business owner

or an investorThe investor is subordinate to lenderNew Businesses (0-3 years)

Established Businesses (3+ years)

Business tax returns for the most recent three years

Personal tax returns for the most recent three years on all owners, principals and

officersInterim financial statement signed and dated within the last 45 daysBusiness debt schedule This must be dated the same as the interim financial statement.Business pro-forma financial

statements

balance

sheet

Aging

of

accounts

r

eceivable

and

payable

as of the date of the interim financial

statement

All

loans will require a personal guarantee.All owners must guarantee the loan personally.  If there are personal assets, they may be taken as

collateral.The

applicants must have a positive credit history.No foreclosure or bankruptcy filings in the last 3 years.No losses on any government guaranteed loan.Other Things to Know

Financing for Small Businesses

SBA’s Primary Loan ProgramsSBA 7(a) Guaranteed Loan Programs

Rural Lender Advantage, SBA Express, Patriot Express, export loan programs, CAPLines

SBA 504 Guaranteed Loan ProgramThree participantsLender Financing 50%CDC Financing – SBA up to 40%Borrower cash down – at least 10%Use of fundsLandPurchase, improve, or expand existing buildingsNew building constructionMachinery & equipment

A Nevada Counseling Network

Nevada Small Business Development Center (NSBDC) 775-784-1717Ansari Business Building, UNR, Room 411

www.nsbdc.orgOne-on-one business counselingWorkshops/Training schedules online

A Nevada Counseling Network

SCORE Counselors to America’s Small Business To make an appointment with a counselor,

775-784-4436 One-on-one business counseling for existing businesses and start-ups4-part ‘First Steps’ classes for existing and prospective business owners Orientation classes for start-ups

www.score-reno.org

www.sba.gov/services/training

Online coursesDirect access to electronic counseling

and other forms of technical assistance

Training anywhere, any time with computer and Internet access.Online Training from SBA

For more information about your local SBA resources go to:

www.sba.gov/nv

Great Basin Federal Credit Union

Main Branch: 9770 S. Virginia St., Reno, Nevada

89511www.GreatBasin.org

775-333-4228