The second source for unsecured financing is through the Superior Financial Group (SFG) folks, who are located in Colorado. The Maryland SBDC Network is one of the Technical Assistance (TA) providers for obtaining this financing. However, you can also directly obtain this source of financing through SFG’s website. In so doing, this is one of the options that you will encounter when applying for a loan thru SFG, per SFG’s message to me on this subject matter:
“With this access you will have a time saving tool to quickly determine whether you will qualify for a loan with SFG up to $25,000, and it only takes a few minutes to complete! Upon submission of a “Pre-Qualification” request you will receive one of three outcome screens as explained below:
- Congratulations - the applicant is pre-qualified by SFG up to the amount shown, subject to receipt of a completed loan package validating the information, and receipt of a guarantee from the U.S. Small Business Administration. Now, follow the instructions under this web page, such as completing and mailing the SFG loan app along with a copy of the “Congrats” message.
- You may qualify - although SFG is unable to pre-qualify the applicant, the applicant may still. Here, you will need to complete a loan package and submit it to SFG along with a copy of the SFG stated results screen from the pre-qualification request.
- Sorry - we are unable to qualify the request. However, if there is additional information that the applicant or the Technical Assistance believe may help to qualify you, SFG welcomes the submission of the information along with a completed loan package for review and the copy of the SFG message on this web page. (So, it may help and prove useful to apply with a Technical Assistance provider)
Please note: It is important to follow the instructions shown on the outcome screen of the SFG Prequalification Request. The outcome screen should always be printed and submitted with the loan application package.
Superior Finance Group’s Contact information is as follows:
- Phone: (925) 296-0500
- Fax: (925) 296-0510
- Web site: http://www.superiorfg.com
Summary of Benefits under the SFG Loan Program:
- Unsecured financing (e.g., no collateral required); start-up financing.
- Highly streamlined loan application process.
- An excellent source to start obtaining credit for your company (your company is the borrower and you, the owner, are the guarantor).
- Quick credit review, approval and funding process. No hemming or humming here!
- If SFG cannot qualify you for the full amount requested, you may receive partial funding. For example, if you apply for $25,000 and do not qualify, you may still qualify for $15,000, $10,000 or $5,000.
The Next Article: My third source for your unsecured financing under the SBA Community Express Loan Program— even if your credit score is under 600!
Follow-up inquiries: If you may have any questions on this program or any other source of financing, please feel free to contact your nearest Maryland SBDC office (at www.mdsbdc.umd.edu), SCORE (at www.score.org) or SBA (at www.sba.gov).
Author: Anthony Ruiz, MBA/JD, MDHCC Vice-Chairman; Regional Director, MD SBDC Capital Region [Website: www.capitalsbdc.umd.edu;
Email: aruiz@mdsbdc.umd.edu].
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