Small Business Financing Richmond KY

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

Melody Townsend
Townsend Financial Planning
(859) 299-2020
2716 Old Rosebud Road, Suite 180
Lexington, KY
Expertises
Hourly Financial Planning Services, Ongoing Investment Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Cash Flow/Budgets/Credit Issues, Insurance Related Issues, including Annuities
Certifications
NAPFA Registered Financial Advisor, CFP®

Ralph Scearce
Cambridge Financial
(859) 269-3104
1089 Chinoe Road
Lexington, KY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Mr. Kristoffer D. Arnold, CFP®
(859) 626-3400
306 Highland Park Dr
Richmond, KY
Firm
LPL Financial Services

Data Provided By:
Mr. Harvey Roy Little Jr., CFP®
(859) 625-2824
115 Cherry Road Ct
Berea, KY
Firm
Harvey R Little, JR Financial Services
Areas of Specialization
Asset Allocation, Banking, Budget Development, Charitable Giving, Comprehensive Financial Planning, Debt Management, Disaster Recovery
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Self-Employed Business Owners

Data Provided By:
Mr. David B Short, CFP®
(859) 543-8188
1795 Alysheba Way Ste 7104
Lexington, KY
Firm
Investments & Financial Planning, LLC
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Management, Retirement Income Management, Social Security Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000



Data Provided By:
Scott Neal
D. Scott Neal, Inc.
(859) 254-3036
1999 Richmond Road
Lexington, KY
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, Planning Issues for Business Owners, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, M.Div., MBA

Mr. Mark D. Van Leeuwen, CFP®
(859) 626-3400
306 Highland Park Dr
Richmond, KY
Firm
Van Leeuwen & Assoc

Data Provided By:
Mr. Douglas T. Hawkins, CFP®
(606) 271-0529
409 Worthington Pl
Richmond, KY
Firm
Precision Financial Group Inc
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management, Elder Care, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Legal Professionals

Data Provided By:
Mr. Charles K. Buckley, CFP®
(859) 223-6333
105 Wind Haven Drive
Nicholasville, KY
Firm
Spectrum Financial Alliance
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided By:
Mr. Mehrdad Bidarian, CFP®
(859) 271-8694
176 E Reynolds Rd Ste 200
Lexington, KY
Firm
MoneyLine Financial Services
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000

Profession: Business Executives

Data Provided By:
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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...

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