Enterprises
SBA Loans
An SBA loan is a government-backed loan that can be used to start or expand a business. The loan has certain requirements for eligibility, such as size standards, proving the ability to repay the loan,and a solid business purpose. The SBA works with specific lenders to offer their programs, which eliminate the risk from the lender since they are backed by the government. The most popular SBA programs are the SBA 504 and SBA 7(a) loan programs. We provide solutions for all your SBA needs.
- SBA Loan Products -
SBA 504 LOANS
1. Loan Purpose: Purchase of fixed assets, such as real estate, machinery, and equipment.
2. Structure: Structured in 3 parts:
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50% from a conventional lender
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40% from the SBA
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10% from the borrower
3. Loan Amount: Up to $5.5 million.
4. Eligibility: For-profit businesses with less than $15 million net worth and less than $5 million in net income in the last two years.
5. Interest: Low rates.
6. Repayment Period: 10, 20, or 25-year terms depending on the use of the loan.
7. Personal Guarantee: The owner with 20% equity must provide a personal guarantee.
1. Loan Amount: Up to $5 million.
2. Loan Use: Working capital, purchase of inventory or equipment, etc.
3. Down Payment: 10-20%.
4. Repayment Terms: 10-25 years depending on the use of the loan.
5. Interest Rates: Rates copy SBA. Can be negotiated by the lender and borrower.
6. Guarantee: The SBA guarantees up to 85% of loans up to $150,000 and 75% over $150,000.
7. Credit Requirements: Generally, 680 minimum credit score
*SBA 7(a) loans can be used to fund franchise purchases or the acquisition of an existing business.
SBA 7A LOAN
- Why Choose Us for Your SBA Needs -
The SBA loan process can be a tedious process that can require documentation such as tax returns, financials, business plans, etc. Not only do we have a suite of eight top SBA lenders, but we also have the expertise necessary to help you prepare to meet all SBA eligibility requirements. We walk you through the process step-by-step to create a package that ensures you meet all the necessary requirements of our lenders. Then we present this package to our top-rated SBA lenders to get you the funding you need.
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