Small Business Financing New Lenox IL

Looking for Small Business Financing in New Lenox? We have compiled a list of businesses and services around New Lenox that should help you with your search. We hope this page helps you find Small Business Financing in New Lenox.

Cynthia Menker
Contour Financial
(708) 460-3800
9031 W. 151st Street, Suite 107
Orland Park, IL
Expertises
Ongoing Investment Management, Middle Income Client Needs, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA

Joseph Alotta
Open Door Investment Advisors, Inc.
(630) 390-8392 - cell
409 North Washington Street
Westmont, IL
Expertises
Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CFS, MA, MBA, Other

Mr. Dennis C. Wesel, CFP®
(815) 485-3399
100 Batson Ct. STE 104
New Lenox, IL
Firm
L & W Associates

Data Provided By:
Mr. Michael A. Scroggins, CFP®
(815) 741-2379
100 Batson Ct
New Lenox, IL
Firm
Raymond James
Areas of Specialization
Wealth Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $250,001 - $500,000

Profession: Self-Employed Business Owners

Data Provided By:
Mr. Eric M. O'Neill, CFP®
(815) 485-5200
329 W Maple St
New Lenox, IL
Firm
Financial Network Investment C
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided By:
Brian Rezny
Rezny Wealth Management, Ltd.
(800) 618-8577
2287 Foxboro Lane
Naperville, IL
Expertises
High Net Worth Client Needs, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. Philip A. Sgariglia, CFP®
(815) 485-5200
329 W Maple St
New Lenox, IL
Firm
Financial Network Investment C
Areas of Specialization
Estate Planning, General Financial Planning, Investment Planning, Long-Term Care, Retirement Planning, Tax Planning, Tax Preparation
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: Not Applicable

Profession: Not Applicable

Data Provided By:
Chad Brian Humphrey, CFP®
(815) 741-2379
100 Batson Ct Ste 102
New Lenox, IL
Firm
Raymond James Financial Services
Areas of Specialization
Comprehensive Financial Planning, Employee and Employer Plan Benefits, Investment Management, Small Business Planning

Data Provided By:
Mr. David C. Hendrickson, CFP®
(815) 717-6075
12222 W Donegal Ln
New Lenox, IL
Firm
OneAmerica Securities

Data Provided By:
Mr. John M. Pohlmeyer Ii, CFP®
(708) 478-4518
9400 Bormet Drive
Mokena, IL
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided By:
Data Provided By:

Business Financing From The SBA / Small Business Administration

The Small Business Administration is the most useful resource available to startups and established small businesses. An Independent agency of the Executive branch of the Federal Government, the SBA has the responsibility of providing assistance to American small businesses in the areas of advocacy, management, procurement, and financial assistance. The SBA financing comes in the forms of investment programs, business loan programs, disaster loan programs, and bonding for contractors. In most cases, the SBA should be the first business financing resource a small business owner looks to for their financing needs.

The SBA has three different loan programs for small business financing . It is important to know that while the SBA has these programs, they do not actually provide the business financing . The SBA sets the guidelines for these loans, then their partners, which include lenders, community development organizations, and microlending institutions, actually make the loan to small businesses . The SBA guarantees the loans, to reduce the risk to the lenders.

The first type of business loan that the SBA offers is the Basic 7(a) Loan Guaranty. When a small business is unable to obtain financing from other sources, this is the primary business loan program offered. This is the SBA's most flexible business financing program, and it is ideal for start up business financing as well as established business financing . This type of new business financing can be used for most business purposes, such as working capital, equipment, office furnishings, land and building, leases, and even debt refinancing. The maturity date of the loan varies, depending on what the loan is used for. For working capital, the loan maturity is up to 10 years, while it is generally up to 25 years for fixed assets.

There are several different variations of the Basic 7(a) loan program, designed to fill specific needs. This type of loan is the closest a small business owner can get to free business financing, because any fees that the SBA has for administration are charged to the lender. However, the lender does have the right to make those fees a part of your loan, which means that you may ultimately pay those fees.

The second type of loan that the SBA offers is the Microloan. This is known as the 7(m) loan program. These are short-term loans of up to $35,000, and are primarily for small businesses and non-profit child care centers. They are meant to provide working capital, inventory purchases, supplies, furnishings, and equipment. They may not be used to pay existing debts or to purchase real estate. This type of business financing is great for business owners who wish to expand.

The third type of small business financing available through the SBA is a Certified Development Company (CDC) loan. Known as the 504 loan program, these loans should only be sought by businesses that require brick and mortar financing . These are long-term...

Click here to read the rest of this article from GlobalBx