Joshua Kim will help you boost your business with an SBA loan

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Everywhere Joshua Kim looks, he sees opportunities for small businesses to snowball by raising outside capital. Whether it is a start-up seeking to start, established companies seeking to develop or entrepreneurs wishing to be supported to finance a business acquisition or a partner buyout, this expert in SBA (Small Business Administration) and M&A Entrepreneur is ready to help.

“There is a lack of education among business owners on the various financing offers, and the deployment of the COVID relief effort has highlighted this,” Josh Explain. “Most business owners were happy with their current financial institution, but never had a meaningful relationship beyond their cashier. There is now a real opportunity to educate people on how to raise capital and to help them do it.

Born to be an entrepreneur

Josh, 23, is uniquely qualified to give advice because of his experience. He started his first business selling realistic-looking Airsoft guns and equipment at the age of 14 and made a few thousand dollars in his first summer. The teenage entrepreneur has expanded this business through online outlets on Amazon and eBay. He then set up a second business by buying high-end watches online or locally and selling them for a higher price.

However, Josh soon realized that these activities had a cap and would not allow him to achieve his goals, so he increased his ambitions. He read “Your First 100 Million” by M&A entrepreneur Dan Pena and traveled to Scotland for one of the author’s events. He was the youngest there, but he was very motivated and wanted to learn how to raise capital and buy and sell businesses.

Josh’s dedication paid off. While working full time at a software technology company in Los Angeles, he made his first business acquisition – a home care business – in February 2017. He secured an SBA 7a loan for the purchase. and ended up acquiring two more companies shortly thereafter. . However, while managing, developing and leading these businesses, he learned that he had more affinity for closing deals than for managing and operating them. Therefore, he left the healthcare industry a few months ago to pursue his current financial and fintech services.

SBA financing offers incredible opportunities

Joshua Kim’s acquisition experiences have shown him how powerful SBA loans could be if businesses used them effectively. “The SBA loans are a gift from God to the green earth,” he says. “They are objectively the best financing option available in the world for a small business owner.”

The entrepreneur continues, “The US government guarantees the majority of an SBA loan, so lenders can provide you with terms they couldn’t otherwise. Also, because the government mitigates the risk, it gives them an incentive to make loans because they don’t risk their own money. For a bank, it’s like playing poker, but they know that 75% of the money they put in has an insurance policy if they get an unfavorable hand.

Josh’s latest company, 7A Accelerator, is a consulting firm that helps businesses get SBA funding. They work on a one-to-one basis helping the business owner with pre-requisition homework, such as cleaning up financial statements, breaking down additions to cash flow, or listing a potential lender’s one-time expenses before applying. . They also help businesses find the perfect lender based on their industry, location, and loan type, and then help structure the deal to save time.

Josh thinks this is a great time for businesses to take out this type of loan as there are a lot of incentives out there right now. However, he advises his clients to approach banks towards the end of the year, when they are most focused on achieving their goals.

Obtain capital to support your business goals

“To act on big ideas, you need capital,” says Joshua Kim. “And the sooner you get that capital, the sooner you can implement those ideas and grow your business. It’s a flywheel effect, and it will get worse over time.

He believes that many companies fail to obtain financing through SBA loans because they don’t know they can, don’t know enough about them, or don’t know which bank they are at. address.

“I’ve worked with clients who were making over a million dollars a year and were denied an SBA loan to buy a building for no logical reason,” says Josh. “The best lenders, contrary to what you might think, are not the big national banks. They are niche national or regional SBA lenders with experienced and knowledgeable staff. 10% of lenders make 90% of the volume.

With 7A Accelerator, Josh and his team streamline the borrower process by standardizing and simplifying the application process. As a result, they ensure that borrowers are properly matched with one or two lenders best suited to their unique capital needs, thus preventing them from unnecessary rejections from unsuitable banks.

“No one likes to be rejected,” says Josh. “If we can save another business owner weeks, if not months, in the process of raising capital, along with the heartache of being rejected, our team sees it as a victory. “


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