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Money feels manageable when you can actually see where it’s going. Instead of guessing at the end of the month, a personal budget template gives you structure, clarity and a simple way to stay in control. Whether you’re planning weekly spending or mapping out long-term savings, the right tool turns scattered numbers into a clear financial picture. What Is a Personal Budget Template? A personal budget template is a structured spreadsheet designed to help someone record income, track expenses and compare the two over a specific period of time. It organizes financial information into categories such as housing, groceries, utilities and discretionary spending, allowing you to see how money flows in and out on a daily, weekly or monthly basis. By laying everything out in one place, it becomes easier to identify spending patterns, adjust habits and maintain financial balance. Why Use a Personal Budget Template for Excel Using a personal budget template for Excel makes the budgeting process faster and more accurate because much of the calculation work happens automatically. Built-in formulas total income, sum expense categories and instantly show the difference between what you earn and what you spend. The following personal budgeting templates are fully customizable, you can adjust categories, timeframes and formatting to match your financial situation, turning a basic spreadsheet into a practical, personalized budgeting system. 5 Personal Budget Templates Some people want a simple split they can follow every month, while others need a personal budgeting template with a tighter breakdown that shows exactly what’s left after spending. These five personal budget templates make that process easier by turning your income into clear spending limits and then tracking how your real expenses stack up. 1. 50/30/20 Budget Template To use this personal budget template for Excel, start by filling in the small table at the top with your name and monthly income, then let the spreadsheet do the heavy lifting. As soon as that income number is entered, the template automatically divides it into three preset buckets: 50% for needs, 30% for wants and 20% for savings. With those targets set, you enter your actual expenses under each category. /wp-content/uploads/2025/03/50-30-20-template.png Once the expense lines are filled out, the template automatically totals spending for needs, wants and savings, then calculates the difference between the amount allocated to each bucket and what you actually spent, revealing your remaining balance for each category. 2. 70/20/10 Budget Template This personal budgeting template for Excel follows the exact same workflow as the 50/30/20 version, but it uses a different split to reflect a more expense-heavy or goal-driven budget. You begin by entering your name and monthly income in the top table, and the spreadsheet automatically allocates that income into three categories: 70% for living expenses, 20% for financial goals and 10% for fun and lifestyle spending. /wp-content/uploads/2026/01/70-20-10-Template-featured-image.png After that, you input your expenses under each bucket. The template then adds up the expenses per category and calculates the difference between each category’s income allocation and its total expenses, so you can immediately see the balance remaining for living expenses, financial goals and fun. 3. Weekly Budget Template Everything begins at the top of the sheet, where you enter your name and monthly income. As soon as that monthly figure is added, this personal budget template for Excel automatically divides it by four to calculate your available weekly budget. Just below, you define the four specific weeks you’re planning for by entering date ranges, such as “Week 1 (1/4/2026 – 1/10/2026),” so each period is clearly framed. /wp-content/uploads/2026/02/weekly-budget-template-scaled.png From there, the weekly amount is automatically divided by seven to determine your daily available budget. That daily limit is structured using a 50/30/20 split for needs, wants and savings. Once you begin entering daily expenses, the spreadsheet compares them against the calculated daily and weekly targets, making it immediately clear whether you’re staying within limits or gradually exceeding them. 4. Zero-Based Budget Template Every month starts from zero with this zero-based budget template, which helps you assign your entire income to specific expense categories before spending begins. Simply enter your monthly income and planned expenses, and built-in formulas automatically total your spending and calculate the balance. Adjust allocations until income minus expenses equals zero, ensuring every dollar has a clear purpose. /wp-content/uploads/2026/02/Zero-based-budget-template-600x509.png How to Make a Project Budget with ProjectManager A personal budget template for Excel is a useful tool for personal finance management, but if you’re interested in making a budget for your personal or professional projects, use ProjectManager instead. ProjectManager is designed to create detailed project budgets. Simply make a list of project tasks using the list, sheet or Gantt chart view, allocate resources such as people, materials or equipment and estimate their costs. Then, establish a budget amount. Once the project starts, enter actual project costs and ProjectManager will automatically calculate the difference between estimated costs and actual costs and will display this information in real-time dashboards and reports so you can check whether the project costs are exceeding the budget at a glance. Watch the video to learn more! Related Personal Budgeting Content How to Make a Budget Plan for Personal Finance Management How to Prioritize Tasks With Personal Kanban Boards 4 Steps to Personal Time Management 18 Budget Templates for Business & Project Budgeting Project Budget Tracking: A Step-by-Step Guide What Is a Budget Report? Purpose, Components & Benefits Manage a Project Budget with Project Budgeting Software What Is a Business Budget? Business Budgeting Basics The post 5 Personal Budget Templates for Excel (Free Download) appeared first on ProjectManager. View the full article

A House subcommittee hearing discussing the future of the government-sponsored enterprises, noted both are still severely undercapitalized. View the full article

The company formerly known as Ocwen confirmed that a deferred tax asset valuation helped boost net income to common shareholders despite servicing challenges. View the full article

If you're an Apple fan who closely follows tech news, you might have been looking forward to Siri's big AI overhaul for some time now—specifically, since the company initially announced it at WWDC 2024. But despite delay after delay, rumors have strongly suggested that the next generation of Siri is set to launch with iOS 26.4. And seeing as Apple just released iOS 26.3 this week, AI Siri is closer than ever, right? Wrong. As reported by Bloomberg's Mark Gurman, Apple has once again kicked Siri's big updates down the road. According to Gurman, the company really did intend to release AI Siri with iOS 26.4, which is reportedly planned to release sometime in March. However, due to testing "snags," the company is instead planning to break up Siri's major updates and distribute them across several iOS updates. Gurman notes that likely means iOS 26.5, which could launch in May, and iOS 27, which will likely release in September, if it follows Apple's usual release dates. But looking at Apple's track record here, don't hold your breath. AI Siri's upcoming features are a struggleAccording to Gurman's sources, Apple is struggling to get Siri to "properly process queries," or to actually respond fast enough, both of which would defeat the purpose of using a smart assistant. Apple is reportedly pushing engineers to use iOS 26.5 to test these features, particularly the ability for Siri to use your personal data to answer questions. Users may be able to flip a switch in Settings to "preview" these features, and may treat the rollout as a beta. Engineers are also struggling to get Siri's app intents to work, or the feature that lets Siri take actions on your behalf. You could ask Siri to open an image, edit it, then share it with a friend, but only if the feature itself actually works. This, too, may roll out with iOS 26.5, but it's unclear due to reliability issues. Siri is also cutting off user prompts too soon, and sometimes taps into ChatGPT instead of using Apple's underlying tech—which would look pretty bad for the company. Apple is also testing new AI features for iOS 26.5 that we haven't heard of yet. One is a new web search tool that functions like other AI search features from companies like Perplexity and Google. You ask a question to search on the web, and it returns a report with summaries and links. The other new feature is a custom image generation tool, that builds on Image Playground, but that too is hitting development hurdles. Looking even further ahead, Apple is planning more Siri advancements—namely, giving the assistant chatbot features, à la ChatGPT. (That said, it will reportedly use Gemini to power these features.) This version of Siri may even have its own app. What's going on with AI Siri?It seems Siri really is Apple's albatross. Despite arguably popularizing smart assistants for the general population, Siri quickly fell behind compared to the likes of Alexa and Gemini (née Google Assistant). Now, the latter have fully embraced modern generative AI, offering features like contextual awareness and natural language commands. While Amazon and Google users can ask their assistants increasingly complicated questions, Siri still feels designed mostly to handle setting alarms and checking the weather. That was going to change with iOS 18, alongside Apple Intelligence as a whole. Apple's initial pitch for AI Siri was an assistant that could see what's on your phone to better understand questions you ask, and take actions on your behalf—i.e., app intents. You could ask Siri to edit an image you have pulled up on your Photos app, and because the assistant is contextually aware, it would know what image you mean, and apply the edits you ask for. Or, you could ask when your friend was set to arrive, and the assistant would be able to scan messages and emails to know that, one, your friend is visiting town this weekend, and two, that they sent you their flight itinerary that gets them into the airport at 3:55 p.m. This Siri has never launched, however. While the company has rolled out iterative updates to Siri with some AI-powered features, its overhaul with these ambitious features have been a trial for Apple's AI team. It all stems from Apple's issues with AI in general: The company was caught off guard by the generative AI wave kicked off in late 2022 by OpenAI's ChatGPT, and following some resistance from corporate leadership, have been scrambling to keep up ever since. Apple Intelligence launched half-baked with issues of its own, but rather than launch a half-baked AI Siri, the company has been struggling to build up the assistant internally. Part of the problem is privacy-related: Unlike other tech companies, who have no problem hoovering up user data to train their models with, Apple still wants to preserve privacy while rolling out AI features. As such, that complicates their situation, as they need to ensure both the hardware and software involved meet those standards. You can't have Siri pull user data into the cloud without strict security measures if you want to ensure your users' data remains private. The company is also focused on building its own hardware for cloud-based AI processing, rather than focus on simply buying up GPUs as many other companies have. Apple is the second most valuable tech company in the world, but a host of factors—including with software, hardware, and leadership—have made it so even Apple can't magically produce an AI assistant. Though, I'm not sold that an AI Siri will move units for Apple in the first place. I can't imagine Gemini moves people to Android, and you can download ChatGPT on any device you own. It's even now built into your iPhone. View the full article

Think about how many emails you receive each day. Then how many of those include the phrase “please find attached” in the body. One X user has made a plea to retire the phrase, a relic leftover from a time when business communication relied on typewritten letters posted in envelopes, which actually included attached documents to be found. The post quickly went viral, gaining nearly 15 million views since it was posted earlier this week. While the user doesn’t elaborate why exactly they personally take issue with the phrase, or what to say instead, the post had the desired effect, with many weighing in with their own takes on modern email etiquette. Some agreed that the phrase is stuffy and outdated. “‘Please find attached’ adds zero information, sounds robotic, and does not respect the reader’s time,” one wrote. “‘Here’s the file’ does the job better than a sentence that adds zero information,” another added. It’s true, these days email attachments are instantly accessible, clearly marked, and don’t require a physical search. While young workers have no qualms including memes, emojis, slang, and abbreviations in their emails, and despite nearly one in four employees now using AI to help write emails, “please find attached” has somehow slipped through the net. Others staunchly defended the use of the tried-and-tested phrase. “But if I don’t type those magic words, how will Outlook know to warn me when I inevitably forget to actually attach the file?” one wrote. “Baby, no,” another added. “The people are stupid.” Many of us are trapped in a terminal cycle of “reaching out” and “circling back”, with dozens of corporate buzzwords and phrases that some argue make smart people sound less intelligent. But if you’re in the market for some more creative ways to signal there’s a PDF attached that needs attention, the replies to the X post is a goldmine. “Behold, the attachment,” one X user suggested as an alternative. For a sinister edge, “‘There are attachments in this email with us right now’,” another put forth, or “‘Watch out for the attachment below’.” Feeling pumped about the PDF attached? “Get a load of this MF attachment,” is another option. Or alternatively, feeling deflated? “Find attached, if you even care” works here. And if you’d rather the receiver doesn’t open the attachment, you could simply put: “‘Please don’t find attached’,” one wrote. “‘It’ll only be more work for us both’.” View the full article

Over the years, we’ve had many letters about animals at work. Here are some of them. my employee doesn’t think we’re doing enough about bears at work (and the update) people only ask me about the ducks I work with (with a video in the update!) the pumpkin-eating cat my office got us turtles to take care of and bring home on weekends my office is infested with wasps our building is full of bats, sewer smells, moths, and more an unexpected office bird how much can I pet my cat on video calls? (and the update) my colleague is allergic to me because of my cats actual llamas head of HR is waging a pressure campaign to make me adopt a puppy my VP of HR says my service dog is too small (and the update) I bring my dog to work — but an anonymous note asked me not to my company wants to sponsor me for a service dog, but I’m not sure I should accept (and the update) my boss’s dog rampages through our work gatherings the secret goat, the geese vs the CEO, and other stories of animals at work here are animals taking over home offices here are your animal coworkers (and part 2) the cats of AAM And we’ve had so many letters involving dogs at work (not all included above) that I created a whole new tag just for them. The post animals at work appeared first on Ask a Manager. View the full article

China moved on Thursday to curb a fierce price war among automakers that has caused massive losses for the industry, after passenger car sales dropped nearly 20% in January from the year before, the fastest pace in almost two years. The State Administration for Market Regulation released guidelines for manufacturers, dealers, and parts suppliers aimed at preventing a race-to-the-bottom price war. They ban automakers from setting prices below the cost of production to “squeeze out competitors or monopolize the market.” Violators may face “significant legal risks,” the regulator warned. The rules also target deceptive pricing strategies and price fixing between parts suppliers and auto manufacturers. Passenger car sales in China fell 19.5% in January from a year earlier, according to the China Association of Automobile Manufacturers. That was the biggest percentage drop since February 2024. The 1.4 million passenger cars sold in January compared with 2.2 million units sold in December, CAAM said. Weakening demand reflects a reluctance of cash-strapped buyers to splash out on big purchases. Sales also have suffered from a cut in tax exemptions for EV purchases, coupled with uncertainties over whether trade-in subsidies for EV purchases will continue after some regions phased them out, auto analysts said. The aggressive price war in China’s auto sector has caused an estimated loss of 471 billion yuan ($68 billion) in output value across the whole industry in the past three years, Li Yanwei, a member of the China Automobile Dealers Association, wrote recently. Analysts expect domestic demand to dip this year. S&P has forecast sales of light vehicles, including passenger cars, in China will fall up to 3% in 2026. However, Chinese automakers are gaining ground in global markets. China’s exports of passenger cars jumped 49% year-on-year to 589,000 in January. “We don’t foresee a loss in momentum for the Chinese auto industry this year,” said Claire Yuan, director of corporate ratings for China autos at S&P Global Ratings. Chinese automakers such as BYD — the country’s largest and one that overtook Tesla as the world’s top electric vehicle maker — are targeting markets in Europe and Latin America as they confront intense competition in both prices and lineups at home due to oversupply. Analysts at Citi expect China’s car exports could jump 19% this year driven by exports of electric vehicles and plug-in hybrids. BYD is targetings around 1.3 million of overseas car sales in 2026, up from the 1.05 million last year. Other major Chinese automakers have also set ambitious sales targets with a focus on exports. Last month, Canada agreed to cut its hefty 100% tariff on China-made EV imports in a move welcomed by Chinese carmakers. China also recently reached a deal with the European Union that could allow more of its EVs to enter the European market. Earlier this week, the European Commission accepted a request by the German auto group Volkswagen to exempt import tariffs for one of its China-built EV models under the CUPRA brand — as long as those vehicles are sold at or above an agreed minimum import price — in a first of such exemptions. China’s commerce ministry said Thursday that it welcomed the move and that it hopes to see more such exemptions. —Chan Ho-Him, AP business writer View the full article

Adam Mosseri, the head of Meta’s Instagram, testified Wednesday during a landmark social media trial in Los Angeles that he disagrees with the idea that people can be clinically addicted to social media platforms. The question of addiction is a key pillar of the case, where plaintiffs seek to hold social media companies responsible for harms to children who use their platforms. Meta Platforms and Google’s YouTube are the two remaining defendants in the case, which TikTok and Snap have settled. At the core of the Los Angeles case is a 20-year-old identified only by the initials “KGM,” whose lawsuit could determine how thousands of similar lawsuits against social media companies would play out. She and two other plaintiffs have been selected for bellwether trials — essentially test cases for both sides to see how their arguments play out before a jury. Mosseri, who’s headed Instagram since 2018 said it’s important to differentiate between clinical addiction and what he called problematic use. The plaintiff’s lawyer, however, presented quotes directly from Mosseri in a podcast interview a few years ago where he used the term addiction in relation to social media use, but he clarified that he was probably using the term “too casually,” as people tend to do. Mosseri said he was not claiming to be a medical expert when questioned about his qualifications to comment on the legitimacy of social media addiction, but said someone “very close” to him has experienced serious clinical addiction, which is why he said he was “being careful with my words.” He said he and his colleagues use the term “problematic use” to refer to “someone spending more time on Instagram than they feel good about, and that definitely happens.” It’s “not good for the company, over the long run, to make decisions that profit for us but are poor for people’s well-being,” Mosseri said. Mosseri and the plaintiff’s lawyer, Mark Lanier, engaged in a lengthy back-and-forth about cosmetic filters on Instagram that changed people’s appearance in a way that seemed to promote plastic surgery. “We are trying to be as safe as possible but also censor as little as possible,” Mosseri said. In the courtroom, bereaved parents of children who have had social media struggles seemed visibly upset during a discussion around body dysmorphia and cosmetic filters. Meta shut down all third-party augmented reality filters in January 2025. The judge made an announcement to members of the public on Wednesday after the displays of emotion, reminding them not to make any indication of agreement or disagreement with testimony, saying that it would be “improper to indicate some position.” During cross examination, Mosseri and Meta lawyer Phyllis Jones tried to reframe the idea that Lanier was suggesting in his questioning that the company is looking to profit off of teens specifically. Mosseri said Instagram makes “less money from teens than from any other demographic on the app,” noting that teens don’t tend to click on ads and many don’t have disposable income that they spend on products from ads they receive. During his opportunity to question Mosseri for a second time, Lanier was quick to point to research that shows people who join social media platforms at a young age are more likely to stay on the platforms longer, which he said makes teen users prime for meaningful long-term profit. “Often people try to frame things as you either prioritize safety or you prioritize revenue,” Mosseri said. “It’s really hard to imagine any instance where prioritizing safety isn’t good for revenue.” Meta CEO Mark Zuckerberg is expected to take the stand next week. In recent years, Instagram has added a slew of features and tools it says have made the platform safer for young people. But this does not always work. A report last year, for instance, found that teen accounts researchers created were recommended age-inappropriate sexual content, including “graphic sexual descriptions, the use of cartoons to describe demeaning sexual acts, and brief displays of nudity.” In addition, Instagram also recommended a “range of self-harm, self-injury, and body image content” on teen accounts that the report says “would be reasonably likely to result in adverse impacts for young people, including teenagers experiencing poor mental health, or self-harm and suicidal ideation and behaviors.” Meta called the report “misleading, dangerously speculative” and said it misrepresents its efforts on teen safety. Meta is also facing a separate trial in New Mexico that began this week. —By Kaitlyn Huamani and Barbara Ortutay, AP Technology Writers View the full article

Gold and silver also drop while US Treasuries rallyView the full article

In a rapidly evolving technological landscape, Oracle is setting the stage for a groundbreaking shift in artificial intelligence (AI) infrastructure that could significantly benefit small businesses across the United States. Marking a pivotal year in 2026, Oracle aims to create AI data centers that not only drive scientific and economic advancements but also promise to enrich local communities involved in these initiatives. Oracle’s partnership with OpenAI has already commenced with infrastructure projects at two Texas campuses and additional sites in New Mexico, Wisconsin, and Michigan. These efforts position communities like Abilene, Shackelford County, and others at the forefront of America’s AI ambitions, reinforcing the nation’s leadership in this vital sector for generations to come. Oracle’s innovative approach is designed to minimize the environmental impact often associated with data centers. As the demand for AI capabilities grows, the company acknowledges the heightened energy requirements of such facilities. To address this, Oracle’s AI data centers will incorporate on-site power generation and contribute to local utility upgrades. “Oracle is committed to paying our own way on energy,” a company representative stated, emphasizing the firm’s responsibility in mitigating energy costs for local residents. Small business owners may find the implications of these developments particularly compelling. The advancements in energy reliability are poised to benefit local economies. By investing in infrastructure improvements, Oracle is setting a precedent that could inspire other tech companies, leading to better utilities and more stable energy supplies in the region. This stability is crucial for small businesses that depend on consistent power sources, enabling them to operate efficiently and reduce unexpected costs. Moreover, Oracle’s commitment to sustainability includes the introduction of closed-loop non-evaporative cooling systems at their data centers. These systems will lead to significantly reduced water usage, aligning the operations of these centers with the consumption levels typical of regular office buildings. This could alleviate one of the main concerns small business owners have regarding resource scarcity, particularly in regions where water availability is already a pressing issue. Oracle’s initiatives to create AI infrastructure also emphasize job creation. The corporation plans to source and hire locally, with thousands of construction jobs and permanent positions anticipated as data centers become operational. On average, a site utilizing around 1 gigawatt of energy will require over 1,000 permanent staff members. This shift could invigorate local job markets, presenting an exciting opportunity for small enterprises to tap into a new talent pool. “Providing technical skills training and workforce development, supporting local charities, and engaging in the life of the community are all commitments we make and take seriously,” Oracle representatives stressed. This sentiment underscores the potential for symbiotic relationships between Oracle and small businesses, as increased local employment can lead to enhanced community engagement and economic resilience. While the prospects are promising, small business owners might consider potential challenges as well. The sheer scale of these developments can lead to increased traffic and changes in local infrastructure, potentially disrupting day-to-day operations. Business owners may need to proactively engage with local authorities to stay informed and prepared for any infrastructural changes that could impact accessibility. The extensive landscape screening around Oracle’s data centers aims to address concerns regarding noise and visual disruption. With measures in place to ensure that noise levels approximate those of normal farming operations, there seems to be a concerted effort to minimize any adverse impacts on surrounding communities. As Oracle builds out its AI infrastructure in 2026, small businesses have many reasons to pay attention. The advancements in energy reliability, local job creation, and sustainable practices promise to foster an environment conducive to growth. However, it will be essential for small business owners to stay vigilant, engage with their communities, and explore how they can leverage the new opportunities emerging from these developments. For more information about Oracle’s initiatives and their impact on local communities, you can visit the original post here. Image via Google Gemini This article, "Oracle Pioneers AI Infrastructure Projects to Transform Local Communities" was first published on Small Business Trends View the full article

In a rapidly evolving technological landscape, Oracle is setting the stage for a groundbreaking shift in artificial intelligence (AI) infrastructure that could significantly benefit small businesses across the United States. Marking a pivotal year in 2026, Oracle aims to create AI data centers that not only drive scientific and economic advancements but also promise to enrich local communities involved in these initiatives. Oracle’s partnership with OpenAI has already commenced with infrastructure projects at two Texas campuses and additional sites in New Mexico, Wisconsin, and Michigan. These efforts position communities like Abilene, Shackelford County, and others at the forefront of America’s AI ambitions, reinforcing the nation’s leadership in this vital sector for generations to come. Oracle’s innovative approach is designed to minimize the environmental impact often associated with data centers. As the demand for AI capabilities grows, the company acknowledges the heightened energy requirements of such facilities. To address this, Oracle’s AI data centers will incorporate on-site power generation and contribute to local utility upgrades. “Oracle is committed to paying our own way on energy,” a company representative stated, emphasizing the firm’s responsibility in mitigating energy costs for local residents. Small business owners may find the implications of these developments particularly compelling. The advancements in energy reliability are poised to benefit local economies. By investing in infrastructure improvements, Oracle is setting a precedent that could inspire other tech companies, leading to better utilities and more stable energy supplies in the region. This stability is crucial for small businesses that depend on consistent power sources, enabling them to operate efficiently and reduce unexpected costs. Moreover, Oracle’s commitment to sustainability includes the introduction of closed-loop non-evaporative cooling systems at their data centers. These systems will lead to significantly reduced water usage, aligning the operations of these centers with the consumption levels typical of regular office buildings. This could alleviate one of the main concerns small business owners have regarding resource scarcity, particularly in regions where water availability is already a pressing issue. Oracle’s initiatives to create AI infrastructure also emphasize job creation. The corporation plans to source and hire locally, with thousands of construction jobs and permanent positions anticipated as data centers become operational. On average, a site utilizing around 1 gigawatt of energy will require over 1,000 permanent staff members. This shift could invigorate local job markets, presenting an exciting opportunity for small enterprises to tap into a new talent pool. “Providing technical skills training and workforce development, supporting local charities, and engaging in the life of the community are all commitments we make and take seriously,” Oracle representatives stressed. This sentiment underscores the potential for symbiotic relationships between Oracle and small businesses, as increased local employment can lead to enhanced community engagement and economic resilience. While the prospects are promising, small business owners might consider potential challenges as well. The sheer scale of these developments can lead to increased traffic and changes in local infrastructure, potentially disrupting day-to-day operations. Business owners may need to proactively engage with local authorities to stay informed and prepared for any infrastructural changes that could impact accessibility. The extensive landscape screening around Oracle’s data centers aims to address concerns regarding noise and visual disruption. With measures in place to ensure that noise levels approximate those of normal farming operations, there seems to be a concerted effort to minimize any adverse impacts on surrounding communities. As Oracle builds out its AI infrastructure in 2026, small businesses have many reasons to pay attention. The advancements in energy reliability, local job creation, and sustainable practices promise to foster an environment conducive to growth. However, it will be essential for small business owners to stay vigilant, engage with their communities, and explore how they can leverage the new opportunities emerging from these developments. For more information about Oracle’s initiatives and their impact on local communities, you can visit the original post here. Image via Google Gemini This article, "Oracle Pioneers AI Infrastructure Projects to Transform Local Communities" was first published on Small Business Trends View the full article

Today's Bissett Bullet: “It’s often a controversial point but some partners in our firms don’t want to learn how to sell.” By Martin Bissett See more Bissett Bullets here Go PRO for members-only access to more Martin Bissett. View the full article

Today's Bissett Bullet: “It’s often a controversial point but some partners in our firms don’t want to learn how to sell.” By Martin Bissett See more Bissett Bullets here Go PRO for members-only access to more Martin Bissett. View the full article

Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI. You can sign up to receive this newsletter every week via email here. Is ‘AI slop’ code here to stay? A few months ago I wrote about the dark side of vibe coding tools: they often generate code that introduces bugs or security vulnerabilities that surface later. They can solve an immediate problem while making a codebase harder to maintain over time. It’s true that more developers are using AI coding assistants, and using them more frequently and for more tasks. But many seem to be weighing the time saved today against the cleanup they may face tomorrow. When human engineers build projects with lots of moving parts and dependencies, they have to hold a vast amount of information in their heads and then find the simplest, most elegant way to execute their plan. AI models face a similar challenge. Developers have told me candidly that AI coding tools, including Claude Code and Codex, still struggle when they need to account for large amounts of context in complex projects. The models can lose track of key details, misinterpret the meaning or implications of project data, or make planning mistakes that lead to inconsistencies in the code—all things that an experienced software engineer would catch. The most advanced AI coding tools are only now beginning to add testing and validation features that can proactively surface problematic code. When I asked OpenAI CEO Sam Altman during a recent press call whether Codex is improving at testing and validating generated code, he became visibly excited. Altman said OpenAI likes the idea of deploying agents to work behind developers, validating code and sniffing out potential problems. Indeed, Codex can run tests on code it generates or modifies, executing test suites in a sandboxed environment and iterating until the code passes or meets acceptance criteria defined by the developer. Claude Code, meanwhile, has its own set of validation and security features. Anthropic has built testing and validation routines into its Claude Code product, too. Some developers say Claude is stronger at higher-level planning and understanding intent, while Codex is better at following specific instructions and matching an existing codebase. The real question may be what developers should expect from these AI coding tools. Should they be held to the standard of a junior engineer whose work may contain errors and requires careful review? Or should the bar be higher? Perhaps the goal should be not only to avoid generating “slop” code but also to act as a kind of internal auditor, catching and fixing bad code written by humans. Altman likes that idea. But judging by comments from another OpenAI executive, Greg Brockman, it’s not clear the company believes that standard is fully attainable. Brockman, OpenAI’s president, suggests in a recently posted set of AI coding guidelines that AI “slop” code isn’t something to eliminate so much as a reality to manage. “Managing AI generated code at scale is an emerging problem, and will require new processes and conventions to keep code quality high,” Brockman wrote on X. Saas stocks still smarting from last week’s ‘SaaSpocalypse’ Last week, shares of several major software companies tumbled amid growing anxiety about AI. The share prices of ServiceNow, Oracle, Salesforce, AppLovin, Workday, Intuit, CrowdStrike, Factset Research, and Thompson Reuters fell so sharply that Wall Street types began to refer to the event as the “SaaSpocalypse.” The stocks fell sharply on two pieces of news. First, late in the day on Friday, January 30, Anthropic announced a slate of new AI plugins for its Cowork AI tool aimed at information workers, including capabilities for legal, product management, marketing, and other functions. Then, on February 4, the company unveiled its most powerful model yet, Claude Opus 4.6, which now powers the Claude chatbot, Claude Code, and Cowork. For investors, Anthropic’s releases raised a scary question: How will old-school SaaS companies survive when their products are already being challenged by AI-native tools? Although software shares rebounded somewhat later in the week, as analysts circulated reassurances that many of these companies are integrating new AI capabilities into their products, the unease lingers. In fact, many of the stocks mentioned above have yet to recover to their late-January levels. (Some SaaS players, like ServiceNow, are now even using Anthropic’s models to power their AI features.) But it’s a sign of the times, and investors will continue to watch carefully for signs that enterprises are moving on from traditional SaaS solutions to newer AI apps or autonomous agents. China is flexing its video models This week, some new entrants in the race for best model are very hard to miss. X is awash with posts showcasing video generated by new Chinese video generation models—Seedance 2.0 from ByteDance and Kling 3.0 from Kuaishou. The video is impressive. Many of the clips are difficult to distinguish from traditionally shot footage, and both tools make it easier to edit and steer the look and feel of a scene. AI-generated video is getting scary-good, its main limitation being that the generated videos are still pretty short. Sample videos from Kling 3.0, which range from 3 seconds to 15 seconds, feature smooth scene transitions and a variety of camera angles. The characters and objects look consistent from scene to scene, a quality that video models have struggled with. The improvements are owed in part to the model’s ability to glean the creator’s intent from the prompts, which can include reference images and videos. Kling also includes native audio generation, meaning it can generate speech, sound effects, ambient audio, lip-sync, and multi-character dialogue in a number of languages, dialects, and accents. ByteDance’s Seedance 2.0, like Kling 3.0, generates video with multiple scenes and multiple camera angles, even from a single prompt. One video featured a shot from within a Learjet in flight to a shot from outside the aircraft. The video motion looks smooth and realistic, with good character consistency across frames and scenes, so that it can handle complex high-motion scenes like fights, dances, and action sequences. Seedance can be prompted with text, images, reference videos, and audio. And like Kling, Seedance can generate synchronized audio including voices, sound effects, and lip-sync in multiple languages. More AI coverage from Fast Company: We’re entering the era of ‘AI unless proven otherwise’ A Palantir cofounder is backing a group attacking Alex Bores over his work with . . . Palantir Why a Korean film exec is betting big on AI Mozilla’s new AI strategy marks a return to its ‘rebel alliance’ roots Want exclusive reporting and trend analysis on technology, business innovation, future of work, and design? Sign up for Fast Company Premium. View the full article

Some discipline will make your practice better. By Sandi Leyva The Complete Guide to Marketing for Tax & Accounting Firms Go PRO for members-only access to more Sandi Smith Leyva. View the full article

Some discipline will make your practice better. By Sandi Leyva The Complete Guide to Marketing for Tax & Accounting Firms Go PRO for members-only access to more Sandi Smith Leyva. View the full article

Starmer’s restive MPs should acknowledge that Britain’s fortunes are shaped abroadView the full article

Russia has attempted to fully block WhatsApp in the country, the company said, the latest move in an ongoing government effort to tighten control over the internet. A WhatsApp spokesperson said late Wednesday that the Russian authorities’ action was intended to “drive users to a state-owned surveillance app,” a reference to Russia’s own state-supported MAX messaging app that’s seen by critics as a surveillance tool. “Trying to isolate over 100 million people from private and secure communication is a backwards step and can only lead to less safety for people in Russia,” the WhatsApp spokesperson said. “We continue to do everything we can to keep people connected.” Russia’s government has already blocked major social media like Twitter, Facebook and Instagram and ramped up other online restrictions since Russia’s full-scale invasion of Ukraine in 2022. Kremlin spokesman Dmitry Peskov said WhatsApp owner Meta Platforms should comply with Russian law to see it unblocked, according to the state Tass news agency. Earlier this week, Russian communications watchdog Roskomnadzor said it will introduce new restrictions on the Telegram messaging app after accusing it of refusing to abide by the law. The move triggered widespread criticism from military bloggers, who warned that Telegram was widely used by Russian troops fighting in Ukraine and its throttling would derail military communications. Despite the announcement, Telegram has largely been working normally. Some experts say it’s a more difficult target, compared with WhatsApp. Some Russian experts said that blocking WhatsApp would free up technological resources and allow authorities to fully focus on Telegram, their priority target. Authorities had previously restricted access to WhatsApp before moving to finally ban it Wednesday. Under President Vladimir Putin, authorities have engaged in deliberate and multipronged efforts to rein in the internet. They have adopted restrictive laws and banned websites and platforms that don’t comply, and focused on improving technology to monitor and manipulate online traffic. Russian authorities have throttled YouTube and methodically ramped up restrictions against popular messaging platforms, blocking Signal and Viber and banning online calls on WhatsApp and Telegram. In December, they imposed restrictions on Apple’s video calling service FaceTime. While it’s still possible to circumvent some of the restrictions by using virtual private network services, many of them are routinely blocked, too. At the same time, authorities actively promoted the “national” messaging app called MAX, which critics say could be used for surveillance. The platform, touted by developers and officials as a one-stop shop for messaging, online government services, making payments and more, openly declares it will share user data with authorities upon request. Experts also say it doesn’t use end-to-end encryption. —Associated Press View the full article

Daniel Kokotajlo predicted the end of the world would happen in April 2027. In “AI 2027” — a document outlining the impending impacts of AI, published in April 2025 — the former OpenAI employee and several peers announced that by April 2027, unchecked AI development would lead to superintelligence and consequently destroy humanity. The authors, however are going back on their predictions. Now, Kokotajlo forecasts superintelligence will land in 2034, but he doesn’t know if and when AI will destroy humanity. In “AI 2027,” Kokotajlo argued that superintelligence will emerge through “fully autonomous coding,” enabling AI systems to drive their own development. The release of ChatGPT in 2022 accelerated predictions around artificial general intelligence, with some forecasting its arrival within years rather than decades. These predictions accrued widespread attention. Notably, JD Vance, U.S. vice president, reportedly read “AI 2027” and later urged Pope Leo XIV — who underscored AI as a main challenge facing humanity — to provide international leadership to avoid outcomes listed in the document. On the other hand, people like Gary Marcus, emeritus professor of neuroscience at New York University, disregarded “AI 2027” as a “work of fiction,” even calling various predictions “pure science fiction mumbo jumbo.” As researchers and the public alike begin to reckon with “how jagged AI performance is,” AGI timelines are starting to stretch again, according to Malcolm Murray, an AI risk management expert and one of the authors of the “International AI Safety Report.” “For a scenario like ‘AI 2027’ to happen, [AI] would need a lot of more practical skills that are useful in real-world complexities,” Murray said. Still, developing AI models that can train themselves remains a steady goal for leading AI companies. Sam Altman, OpenAI CEO, set internal goals for “a true automated AI researcher by March of 2028.” However, he’s not entirely confident in the company’s capabilities to develop superintelligence. “We may totally fail at this goal,” he admitted on X, “but given the extraordinary potential impacts we think it is in the public interest to be transparent about this.” And so, superintelligence may still be possible, but when it arrives and what it will be capable of remains far murkier than “AI 2027” once suggested. —Leila Sheridan This article originally appeared on Fast Company‘s sister publication, Inc. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy. View the full article

Contract closings decreased 8.4%, the biggest drop since February 2022, to a 3.91 million annualized pace in January, according to National Association of Realtors data released Thursday. View the full article

Reward for taking extra credit risk falls to lowest in decades as investors hunt for yieldView the full article

If you’re considering an SBA 7(a) loan, grasping the requirements is vital. These loans are designed for for-profit businesses in the U.S. and have specific eligibility criteria, including size standards based on employee count and revenue. You’ll need a personal guarantee if you own over 20% of the business, a decent credit score, and an extensive set of documents to support your application. Let’s explore the details of what you need to qualify. Key Takeaways The business must be a for-profit entity located in the U.S. or its territories and meet SBA size standards. Owners with over a 20% stake must provide personal guarantees, and a minimum credit score of around 680 is typically required. Comprehensive financial statements, projections, and a detailed business plan outlining loan usage must be submitted. Tax returns for the previous three years and personal financial statements for all owners are necessary for assessment. Documentation of collateral, including tangible and intangible assets, must be provided to support the loan application. Overview of SBA 7(a) Loans When you’re considering financing options for your small business, the SBA 7(a) loan program offers a viable solution that’s worth exploring. So, what’s a 7(a) loan? It’s a loan backed by the Small Business Administration, designed to help businesses with various financing needs, such as purchasing real estate, working capital, or refinancing debt. You can secure funding ranging from $10,000 to $5 million, often at lower interest rates than conventional loans. The SBA guarantees a significant portion of these loans, which reduces risk for lenders, making it easier for you to obtain financing that might otherwise be unavailable. You’ll likewise find flexible repayment terms, extending up to 10 years, or 25 years if you use more than half for real estate. Nevertheless, you’ll need to meet specific SBA 7(a) loan requirements, including demonstrating the minimum credit score needed for an SBA loan and operating for profit. Eligibility Criteria for SBA 7(a) Loans To qualify for an SBA 7(a) loan, your business must meet several specific eligibility criteria. First, your business needs to be a for-profit entity located in the U.S. or its territories. If you own more than a 20% stake, you’ll have to provide a personal guarantee for the loan. Furthermore, you must meet the SBA’s size standards, which are based on employee count and annual revenue. It’s crucial to demonstrate your ability to repay the loan through financial statements and projections. Keep in mind that the minimum credit score for an SBA 7(a) loan typically falls around 680, so a strong credit score is needed for an SBA loan. Finally, certain businesses, like nonprofits and those engaged in illegal activities, are ineligible, so verify your business aligns with the lending terms and conditions established by the SBA. Business Requirements for Loan Approval Securing an SBA 7(a) loan requires your business to meet several specific requirements that guarantee it’s positioned for success. First, your business must operate for profit and be located in the U.S. or its territories. If you own more than 20% of the business, you’ll need to provide personal guarantees during the application process. Furthermore, your business must comply with the SBA’s size standards, which are based on employee count and annual revenue to qualify for this worldwide loan. To demonstrate your ability to repay the loan, you’ll need to submit thorough financial statements and projections. Finally, you must include documentation outlining how the loan proceeds will be utilized, ensuring that finance providers understand your business’s funding needs. Meeting these requirements is essential for a smooth application process within the 7(a) program, positioning your business for potential success. Ineligibility Factors for SBA Loans Even though many businesses seek the benefits of SBA loans to fuel their growth, several factors can render them ineligible for this funding. Comprehending these ineligibility factors is essential for your loan application process. Ineligibility Factors Details Nonprofit Organizations SBA loans are designed particularly for profit-generating businesses. Lending Businesses Businesses primarily engaged in lending money, like banks, can’t apply. Life Insurance Companies These entities are excluded from receiving SBA loan funding. Location Outside the U.S. Any business located outside the U.S. or its territories does not qualify. Additionally, industries involved in illegal activities, adult entertainment, or lobbying are deemed ineligible for SBA financing. Acquainting yourself with these factors can save time and help you navigate your funding options more effectively. Documentation Needed for Application When applying for an SBA 7(a) loan, having the right documentation is crucial for a successful application. You’ll need to start with a thorough business plan that outlines how you plan to use the loan proceeds and includes projections for future financial performance. In addition, personal financial statements for all business owners, along with credit histories, are necessary to demonstrate your creditworthiness and ability to repay the loan. It’s important to submit tax returns for the previous three years, which provide insight into your financial stability and profitability. You’ll need to include financial statements, such as balance sheets and income statements, to illustrate your current financial position and cash flow. Finally, documentation of collateral, which may include both tangible and intangible assets, is required to secure the loan and meet lender requirements. Having these documents ready will streamline your application process. Common Uses of SBA 7(a) Loans SBA 7(a) loans serve various purposes that can greatly benefit your business. You can use these loans to cover startup costs, purchase crucial equipment and supplies, or refinance existing debt, allowing you to improve your financial standing. Comprehending these common uses can help you determine how to leverage this financing option effectively for your needs. Startup Costs Financing Starting a business often requires significant financial investment, and the SBA 7(a) loan program is designed to help you cover those vital startup costs. You can use these loans for important expenses like inventory and payroll, providing the necessary capital to get your business off the ground. If you’re looking to acquire an existing business, SBA 7(a) loans finance up to 100% of the purchase price, minimizing your upfront costs. Furthermore, you can refinance high-interest debt related to startup expenses, improving your financial stability. The loans likewise support tenant improvements, allowing you to adapt leased spaces to suit your operational needs. With flexible terms and down payments starting at just 10%, accessing funds for your startup becomes more manageable. Equipment and Supplies Purchases Acquiring the right equipment and supplies is crucial for any business looking to thrive and expand. SBA 7(a) loans enable you to finance these purchases, allowing up to 100% financing for both tangible and intangible assets. This means you can invest in machinery, vehicles, or software without hefty upfront costs. With repayment terms extending up to 10 years, you have a manageable timeline to pay off these expenditures. Nonetheless, you must demonstrate a clear plan detailing how you’ll use the loan proceeds. Here’s a quick overview of eligible purchases: Type of Equipment Examples Tangible Assets Machinery, vehicles Intangible Assets Software, licenses Refinancing Existing Debt When businesses find themselves burdened by high-interest debt, refinancing through the SBA 7(a) loan program can provide a viable solution. This program allows you to consolidate existing loans, potentially covering up to 100% of your current debt. By securing a loan with more favorable terms, you can considerably reduce your overall financing costs and improve cash flow. To qualify, you’ll need to demonstrate your ability to repay the new loan with financial statements and projections, as required by the SBA. This option is especially beneficial if you’re facing unreasonable terms from previous lenders. Remember, you must meet general eligibility requirements, including operating for profit and being located in the U.S., to take advantage of this refinancing opportunity. Understanding the Application Process To start the application process for an SBA 7(a) loan, you must first confirm your eligibility by ensuring your business operates for profit and is based in the U.S. Next, gather all required documentation, including tax returns, financial statements, and a detailed business plan, to submit a complete application. This preparation will help you navigate the steps smoothly and increase your chances of approval. Confirm Eligibility Criteria How can you guarantee your business meets the eligibility criteria for an SBA 7(a) loan? First, make sure your business operates for profit and is located in the U.S. or its territories. You must additionally comply with the SBA’s size standards regarding employee count and annual revenue. If you own more than 20% of the business, be prepared to provide a personal guarantee. Demonstrating your ability to repay the loan is vital, so have financial statements and projections ready, along with documentation explaining how you’ll use the loan proceeds. Finally, confirm you’re not part of any excluded business types, such as nonprofits or illegal operations, to avoid complications during the application process. Gather Required Documentation Gathering the right documentation is a vital step in the application process for an SBA 7(a) loan. You’ll need to compile important documents to create a complete application. Here’s a quick reference table to help you: Document Type Purpose Examples Tax Returns Verify income and financial history Personal and business tax returns Financial Statements Show ability to repay the loan Profit and loss statements, balance sheets Business Plan Outline loan usage and business strategy Thorough business plan In addition, provide personal financial information to demonstrate good credit. Confirm you document how the loan proceeds will be utilized, as this is vital for your application. Grasping the SBA 7(a) checklist will help you meet all requirements effectively. Submit Complete Application Once you’ve gathered the necessary documentation, submitting a complete application for an SBA 7(a) loan becomes the next significant step in the process. Make sure your application includes crucial documents like tax returns, financial statements, and a detailed business plan. It’s important to confirm your eligibility and provide accurate, complete information to avoid delays in processing. An experienced lender can guide you through this process, making certain all forms meet the SBA’s requirements. Expect a soft credit pull from NewtekOne, which won’t affect your credit score, followed by a hard credit pull after qualification determination. Be ready to demonstrate your ability to repay the loan through financial statements and projections as part of your application submission. Frequently Asked Questions What Qualifies You for an SBA 7A Loan? To qualify for an SBA 7(a) loan, you must run a for-profit business located in the U.S. or its territories, meeting the SBA’s specific size standards. If you own over 20% of the business, you’ll need to provide a personal guarantee. You must demonstrate your ability to repay through financial statements and projections, specify how you’ll use the loan proceeds, and show that you can’t obtain credit elsewhere. Can a New LLC Get an SBA Loan? Yes, a new LLC can get an SBA loan, but it must meet specific criteria. Your business needs to operate for profit and adhere to SBA size standards regarding employee count and revenue. You’ll have to provide personal guarantees if you own over 20% of the LLC, and your business plan must outline how you’ll use the loan and repay it. Strong credit history or relevant experience can improve your chances of approval. What Are the 5 SBA Requirements of a Small Business? To qualify for an SBA loan, you must meet five key requirements. First, your business needs to be for-profit and located in the U.S. Second, you must adhere to SBA size standards regarding revenue and employee count. Third, owners with over 20% ownership must provide personal guarantees. Fourth, you should demonstrate repayment ability through financial statements. Finally, you need to detail how you’ll use the loan funds, ensuring compliance with SBA guidelines. Does an SBA 7A Loan Require a Down Payment? Yes, an SBA 7(a) loan does require a down payment, typically starting at 10%. Nevertheless, this percentage can increase based on the perceived risk of your business or the specific purpose of the loan. You can cover this down payment using personal funds, gifts, or other acceptable sources as long as they align with SBA guidelines. Lower down payments make SBA loans more accessible than conventional loans, which often demand larger initial investments. Conclusion In conclusion, qualifying for an SBA 7(a) loan requires meeting specific eligibility criteria and providing thorough documentation. Confirm your for-profit business is located in the U.S., meets size standards, and has a solid credit score. Prepare your financial statements, tax returns, and a detailed business plan, during which you grasp the various uses of the loan. By following these guidelines and addressing any ineligibility factors, you can increase your chances of securing the funding you need for your business. Image via Google Gemini This article, "What Are SBA 7(a) Loan Requirements?" was first published on Small Business Trends View the full article

If you’re considering an SBA 7(a) loan, grasping the requirements is vital. These loans are designed for for-profit businesses in the U.S. and have specific eligibility criteria, including size standards based on employee count and revenue. You’ll need a personal guarantee if you own over 20% of the business, a decent credit score, and an extensive set of documents to support your application. Let’s explore the details of what you need to qualify. Key Takeaways The business must be a for-profit entity located in the U.S. or its territories and meet SBA size standards. Owners with over a 20% stake must provide personal guarantees, and a minimum credit score of around 680 is typically required. Comprehensive financial statements, projections, and a detailed business plan outlining loan usage must be submitted. Tax returns for the previous three years and personal financial statements for all owners are necessary for assessment. Documentation of collateral, including tangible and intangible assets, must be provided to support the loan application. Overview of SBA 7(a) Loans When you’re considering financing options for your small business, the SBA 7(a) loan program offers a viable solution that’s worth exploring. So, what’s a 7(a) loan? It’s a loan backed by the Small Business Administration, designed to help businesses with various financing needs, such as purchasing real estate, working capital, or refinancing debt. You can secure funding ranging from $10,000 to $5 million, often at lower interest rates than conventional loans. The SBA guarantees a significant portion of these loans, which reduces risk for lenders, making it easier for you to obtain financing that might otherwise be unavailable. You’ll likewise find flexible repayment terms, extending up to 10 years, or 25 years if you use more than half for real estate. Nevertheless, you’ll need to meet specific SBA 7(a) loan requirements, including demonstrating the minimum credit score needed for an SBA loan and operating for profit. Eligibility Criteria for SBA 7(a) Loans To qualify for an SBA 7(a) loan, your business must meet several specific eligibility criteria. First, your business needs to be a for-profit entity located in the U.S. or its territories. If you own more than a 20% stake, you’ll have to provide a personal guarantee for the loan. Furthermore, you must meet the SBA’s size standards, which are based on employee count and annual revenue. It’s crucial to demonstrate your ability to repay the loan through financial statements and projections. Keep in mind that the minimum credit score for an SBA 7(a) loan typically falls around 680, so a strong credit score is needed for an SBA loan. Finally, certain businesses, like nonprofits and those engaged in illegal activities, are ineligible, so verify your business aligns with the lending terms and conditions established by the SBA. Business Requirements for Loan Approval Securing an SBA 7(a) loan requires your business to meet several specific requirements that guarantee it’s positioned for success. First, your business must operate for profit and be located in the U.S. or its territories. If you own more than 20% of the business, you’ll need to provide personal guarantees during the application process. Furthermore, your business must comply with the SBA’s size standards, which are based on employee count and annual revenue to qualify for this worldwide loan. To demonstrate your ability to repay the loan, you’ll need to submit thorough financial statements and projections. Finally, you must include documentation outlining how the loan proceeds will be utilized, ensuring that finance providers understand your business’s funding needs. Meeting these requirements is essential for a smooth application process within the 7(a) program, positioning your business for potential success. Ineligibility Factors for SBA Loans Even though many businesses seek the benefits of SBA loans to fuel their growth, several factors can render them ineligible for this funding. Comprehending these ineligibility factors is essential for your loan application process. Ineligibility Factors Details Nonprofit Organizations SBA loans are designed particularly for profit-generating businesses. Lending Businesses Businesses primarily engaged in lending money, like banks, can’t apply. Life Insurance Companies These entities are excluded from receiving SBA loan funding. Location Outside the U.S. Any business located outside the U.S. or its territories does not qualify. Additionally, industries involved in illegal activities, adult entertainment, or lobbying are deemed ineligible for SBA financing. Acquainting yourself with these factors can save time and help you navigate your funding options more effectively. Documentation Needed for Application When applying for an SBA 7(a) loan, having the right documentation is crucial for a successful application. You’ll need to start with a thorough business plan that outlines how you plan to use the loan proceeds and includes projections for future financial performance. In addition, personal financial statements for all business owners, along with credit histories, are necessary to demonstrate your creditworthiness and ability to repay the loan. It’s important to submit tax returns for the previous three years, which provide insight into your financial stability and profitability. You’ll need to include financial statements, such as balance sheets and income statements, to illustrate your current financial position and cash flow. Finally, documentation of collateral, which may include both tangible and intangible assets, is required to secure the loan and meet lender requirements. Having these documents ready will streamline your application process. Common Uses of SBA 7(a) Loans SBA 7(a) loans serve various purposes that can greatly benefit your business. You can use these loans to cover startup costs, purchase crucial equipment and supplies, or refinance existing debt, allowing you to improve your financial standing. Comprehending these common uses can help you determine how to leverage this financing option effectively for your needs. Startup Costs Financing Starting a business often requires significant financial investment, and the SBA 7(a) loan program is designed to help you cover those vital startup costs. You can use these loans for important expenses like inventory and payroll, providing the necessary capital to get your business off the ground. If you’re looking to acquire an existing business, SBA 7(a) loans finance up to 100% of the purchase price, minimizing your upfront costs. Furthermore, you can refinance high-interest debt related to startup expenses, improving your financial stability. The loans likewise support tenant improvements, allowing you to adapt leased spaces to suit your operational needs. With flexible terms and down payments starting at just 10%, accessing funds for your startup becomes more manageable. Equipment and Supplies Purchases Acquiring the right equipment and supplies is crucial for any business looking to thrive and expand. SBA 7(a) loans enable you to finance these purchases, allowing up to 100% financing for both tangible and intangible assets. This means you can invest in machinery, vehicles, or software without hefty upfront costs. With repayment terms extending up to 10 years, you have a manageable timeline to pay off these expenditures. Nonetheless, you must demonstrate a clear plan detailing how you’ll use the loan proceeds. Here’s a quick overview of eligible purchases: Type of Equipment Examples Tangible Assets Machinery, vehicles Intangible Assets Software, licenses Refinancing Existing Debt When businesses find themselves burdened by high-interest debt, refinancing through the SBA 7(a) loan program can provide a viable solution. This program allows you to consolidate existing loans, potentially covering up to 100% of your current debt. By securing a loan with more favorable terms, you can considerably reduce your overall financing costs and improve cash flow. To qualify, you’ll need to demonstrate your ability to repay the new loan with financial statements and projections, as required by the SBA. This option is especially beneficial if you’re facing unreasonable terms from previous lenders. Remember, you must meet general eligibility requirements, including operating for profit and being located in the U.S., to take advantage of this refinancing opportunity. Understanding the Application Process To start the application process for an SBA 7(a) loan, you must first confirm your eligibility by ensuring your business operates for profit and is based in the U.S. Next, gather all required documentation, including tax returns, financial statements, and a detailed business plan, to submit a complete application. This preparation will help you navigate the steps smoothly and increase your chances of approval. Confirm Eligibility Criteria How can you guarantee your business meets the eligibility criteria for an SBA 7(a) loan? First, make sure your business operates for profit and is located in the U.S. or its territories. You must additionally comply with the SBA’s size standards regarding employee count and annual revenue. If you own more than 20% of the business, be prepared to provide a personal guarantee. Demonstrating your ability to repay the loan is vital, so have financial statements and projections ready, along with documentation explaining how you’ll use the loan proceeds. Finally, confirm you’re not part of any excluded business types, such as nonprofits or illegal operations, to avoid complications during the application process. Gather Required Documentation Gathering the right documentation is a vital step in the application process for an SBA 7(a) loan. You’ll need to compile important documents to create a complete application. Here’s a quick reference table to help you: Document Type Purpose Examples Tax Returns Verify income and financial history Personal and business tax returns Financial Statements Show ability to repay the loan Profit and loss statements, balance sheets Business Plan Outline loan usage and business strategy Thorough business plan In addition, provide personal financial information to demonstrate good credit. Confirm you document how the loan proceeds will be utilized, as this is vital for your application. Grasping the SBA 7(a) checklist will help you meet all requirements effectively. Submit Complete Application Once you’ve gathered the necessary documentation, submitting a complete application for an SBA 7(a) loan becomes the next significant step in the process. Make sure your application includes crucial documents like tax returns, financial statements, and a detailed business plan. It’s important to confirm your eligibility and provide accurate, complete information to avoid delays in processing. An experienced lender can guide you through this process, making certain all forms meet the SBA’s requirements. Expect a soft credit pull from NewtekOne, which won’t affect your credit score, followed by a hard credit pull after qualification determination. Be ready to demonstrate your ability to repay the loan through financial statements and projections as part of your application submission. Frequently Asked Questions What Qualifies You for an SBA 7A Loan? To qualify for an SBA 7(a) loan, you must run a for-profit business located in the U.S. or its territories, meeting the SBA’s specific size standards. If you own over 20% of the business, you’ll need to provide a personal guarantee. You must demonstrate your ability to repay through financial statements and projections, specify how you’ll use the loan proceeds, and show that you can’t obtain credit elsewhere. Can a New LLC Get an SBA Loan? Yes, a new LLC can get an SBA loan, but it must meet specific criteria. Your business needs to operate for profit and adhere to SBA size standards regarding employee count and revenue. You’ll have to provide personal guarantees if you own over 20% of the LLC, and your business plan must outline how you’ll use the loan and repay it. Strong credit history or relevant experience can improve your chances of approval. What Are the 5 SBA Requirements of a Small Business? To qualify for an SBA loan, you must meet five key requirements. First, your business needs to be for-profit and located in the U.S. Second, you must adhere to SBA size standards regarding revenue and employee count. Third, owners with over 20% ownership must provide personal guarantees. Fourth, you should demonstrate repayment ability through financial statements. Finally, you need to detail how you’ll use the loan funds, ensuring compliance with SBA guidelines. Does an SBA 7A Loan Require a Down Payment? Yes, an SBA 7(a) loan does require a down payment, typically starting at 10%. Nevertheless, this percentage can increase based on the perceived risk of your business or the specific purpose of the loan. You can cover this down payment using personal funds, gifts, or other acceptable sources as long as they align with SBA guidelines. Lower down payments make SBA loans more accessible than conventional loans, which often demand larger initial investments. Conclusion In conclusion, qualifying for an SBA 7(a) loan requires meeting specific eligibility criteria and providing thorough documentation. Confirm your for-profit business is located in the U.S., meets size standards, and has a solid credit score. Prepare your financial statements, tax returns, and a detailed business plan, during which you grasp the various uses of the loan. By following these guidelines and addressing any ineligibility factors, you can increase your chances of securing the funding you need for your business. Image via Google Gemini This article, "What Are SBA 7(a) Loan Requirements?" was first published on Small Business Trends View the full article

For most of modern finance, one number has quietly dictated who gets ahead and who gets left out: the credit score. It was a breakthrough when it arrived in the 1950s, becoming an elegant shortcut for a complex decision. But shortcuts age. And in a world driven by data, digital behavior, and real-time signals, the score is increasingly misaligned with how people actually live and manage money. We’re now at a turning point. A foundational system, long considered untouchable, is finally being reconstructed by using AI—specifically, advanced machine learning models built for risk prediction—to extract more intelligence from existing data. These are rigorously tested, well-governed systems that help lenders see risk with greater nuance and clarity. And the results are reshaping core economics for lenders. THE CREDIT SCORE WASN’T BUILT FOR MODERN CONSUMERS Legacy credit scores rely on a narrow slice of information updated at a pace that reflects the black-and-white television era. A single late payment can overshadow years of financial discipline. Data updates lag behind real behavior. And lenders are forced to make million-dollar decisions using a tool that can’t see volatility, nuance, or context. A single, generic credit score is a compromise by design. National credit scores are designed to work reasonably well across thousands of institutions, but not optimally for any specific one. That becomes clear when you compare regional differences. A lender in an agricultural region may see very different income seasonality and cash-flow patterns than a lender in a major metro area—differences that a universal score was never designed to capture. Financial institutions need models built around their actual membership that can adjust to different financial histories and behaviors. That rigidity has created the gap we’re now seeing across the economy. Consumers feel squeezed, lenders feel exposed, and businesses struggle to grow in a risk environment that looks nothing like the one their scoring tools were built for. Modern machine-learning models give lenders something the score never could—a panoramic view instead of a narrow window. HOW AI CHANGES THE GAME The data in credit files has long been there. What’s changed is the modeling—modern machine learning systems that can finally make full use of those signals. These models can evaluate thousands of factors inside bureau files, not just the static inputs, but the patterns behind them: How payment behavior changes over time Which fluctuations are warning signs versus temporary noise How multiple variables interact in ways a traditional score can’t measure This lets lenders differentiate between someone who is truly risky and someone who is momentarily out of rhythm. The impact is profound: more approvals without more losses, stronger compliance without more overhead, and decisions that align with how people actually manage their finances today. For leadership teams, this also means making intentional choices about who to serve and how to allocate capital. Tailored models let institutions focus their resources on the customers they actually want to reach, rather than relying on a one-size-fits-all score. AI FIXES SOMETHING WE DON’T TALK ABOUT ENOUGH There’s widespread concern about AI bias, and rightly so. When algorithms aren’t trained on a representative set of data or aren’t monitored after deployment, this can create biased results. In lending, these models aren’t deployed on faith; they’re validated, back-tested, and monitored over time, with clear documentation of the factors driving each decision. Modern explainability techniques, now well-established in credit risk, can give regulators and consumers a clearer view into how and why decisions are made. Business leaders should also consider that there is bias embedded in manual underwriting. Human decisions—especially in high-volume, time-pressured environments—vary from reviewer to reviewer, case to case, hour to hour. Machine learning models that use representative data, are regularly monitored, and make explainable, transparent decisions, giving humans a dependable baseline. This allows them to focus on exceptions, tough cases, and strategy. THE NEW ADVANTAGE FOR BUSINESS LEADERS The next era of lending will be defined by companies that operationalize AI with discipline, building in strong governance, clear guardrails, and transparency. Those who do will see higher approval rates, lower losses, faster decisions with fewer manual bottlenecks, and fairer outcomes that reflect real behavior, not outdated shortcuts. For the first time in 70 years, we’re able to bring real, impactful change to one of the most influential drivers in the economy. THE FUTURE ISN’T A SCORE, IT’S UNDERSTANDING If the last century of lending was defined by a single, blunt number, the next century will be defined by intelligence. By the ability to interpret risk with nuance, adapt to fast-moving economic signals, and extend opportunity to people who have long been underestimated by the system. AI won’t make lending flawless. But it gives us the clearest path we’ve ever had toward a credit ecosystem that is more accurate, more resilient, and far fairer than the one we inherited. And for leaders focused on growth, innovation, and long-term competitiveness, that shift is transformational. Sean Kamkar is CTO of Zest AI. View the full article

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