The Small Business Administration works with thousands of local banks around the country to offer loan products to small businesses including:
- Express Loans
- 504 Loans
- 7(a) Loans
In 2011, the SBA 7(a) loan program provided $19.6 billion in loans to small business through nearly 38,000 loans. If you are applying for an SBA 7(a) loan you will be required to provide the bank, at least, a 12 month profit and loss financial projection.
There are a number of Excel spreadsheet templates available on the internet that are meant to help you create a 12 month profit and loss projection, but after reviewing dozens of templates, I believe that spreadsheet templates are fundamentally limited, and will never be the best way to create financial projections. So, my brother and I created ProjectionHub.
If you are small business owner looking to apply for an SBA 7(a) loan, then I encourage you to give our application a try. You can create your projections and download a completed Excel Spreadsheet file. Get started today.