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Online businesses have never been bigger; in 2016, e-commerce alone resulted in more than $320 billion of business revenue in the United States. Even if you’re not in the e-commerce space, the amount of companies that have 100% (or close to 100%) of their employees working remotely has grown exponentially in the last few years. So, the question arises: do you need to have a physical office or sell goods and services in person to qualify for an SBA loan?

The answer is no. Online and fully-remote companies are just as eligible for SBA loans as their traditional counterparts. However, they still have to prove that they have what it takes to qualify, including a good credit score, strong financials, and that they’re in an SBA-approved industry.

SBA Loan Documentation May Be Especially Important for Online Businesses

Since online-only businesses may not have the brick and mortar presence that defines other types of companies, they’ll need to make sure that they can prove they have what it takes to repay an SBA loan. This means that their tax and accounting statements, such as balance sheets, income statements, cash flow statements, and other financial documents should be in tip-top shape. Plus, if a business has no physical presence, lenders may be slightly stricter when it comes to personal and business credit scores.

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