The SBA’s flagship 7(a) mortgage program also provides financing that borrowers can use to begin companies. But 7(a) loans are robust to get. They usually go to established businesses that can present collateral — a physical asset, resembling actual property or equipment, that the lender can promote if you happen to default. The qualifications are strict, and even for those who qualify, the method can take a number of months.
Therefore, the driving power behind the two business models is different: The Intent of the startup founder is to disrupt the market with a scalable and impactful enterprise model; whereas the intent of the small enterprise owner is to be her personal boss and safe a place in the local market. For extra information about the competitors (eligibility, functions, vital dates, and so forth.), please go to the Business Startup Challenge web site provided by Blackstone LaunchPad. They eliminate the … Read more