DRDA/CPA’s Know the Latest Lending News in Texas

We’re all trying to find ways to maximize our savings and minimize our expenses in these difficult economic times. DRDA/CPA’s knows that the changing policies for small business financing can be confusing for anyone. That’s why the DRDA P.C. professionals attend seminars and conferences to stay on top of these changes, so they can help you make the best choices for your small business.

The DRDA CPAs have attended two recent conferences for lenders: The International Business Brokers Association ® (IBBA ®) Annual Conference in Denver, CO on June 1-7, 2008, and the America West SBA Lenders Conference in Spokane, WA on June 9 -11, 2008. Both of these conferences ensure that the DRDA financial wizards stay on top of the latest changes that affect your small business.

The International Business Brokers Association ® (IBBA ®) is the largest international non-profit association made up of people and firms engaged in the various aspects of business brokerage and mergers and acquisitions. At their bi-annual conferences, members are briefed on topics such as seller financing, recasting and innovative business coaching practices. By staying abreast of all the changes in mergers and acquisitions, DRDA CPA’s can provide you with the best possible financing options to help you reach your highest potential.

The America West SBA Lenders Conference was in Spokane, WA on June 9 through the 11th and DRDA/CPA’s were there as well, continuing their ongoing commitment to learning all the latest developments in Small Business Association (SBA) loan policies and regulations.

Attending these conferences keeps the financial advisors at DRDA/CPA’s informed of the most current options for small business financing so they can continue helping small business owners like you lock in the most favorable financing options available. One opportunity that DRDA/CPA’s specialize in is the BORSA plan.

With a BORSA plan, you use the funds from your 401(k) plan to create a Business Owners Retirement Savings Account. These BORSA funds are then used to purchase a franchise, start up a new business or purchase business properties without taxes, penalties, distributions and without using the loan provision. A BORSA Plan will work with an SBA loan, in order to help small businesses secure the necessary capital to become successful faster and stay successful longer.

The SBA has long been a guarantor of loans. Having the backing of the SBA guarantee substantially lowers the risk to banks and other lenders, so they can provide more small business loans. The SBA has several programs that can help you acquire the capital you need to start your business. The basic 7(a) loan program certifies a portion of your small business loan. The criteria for qualification is set up to make it as easy as possible for you to be accepted and it is the most popular loan program the SBA has. The CDC/504 loan program provides financing security on a community-wide basis to help renew and restore small business consumerism for communities. The SBA also has disaster recovery loans and microloans to meet other financial needs for small businesses. When an SBA loan program is used along with a BORSA plan, you have the best opportunity to get the most financing options available.

To find out more about how you can use a BORSA plan, contact the experts at DRDA/CPA’s at www.drdacpa.com or www.borsaplan.com or call 281-954-6040 today.