SBA Financing
SBA Loans
SBA Loan Programs Built for Big Things
Small Business Administration is referred to as SBA. It is a federal government agency that offers assistance to independent thinkers, entrepreneurs and small enterprises nationally. The SBA's company loan programs are well-liked across the country. Small businesses and entrepreneurs are clamoring for an SBA small business loan. We recognize that just because you own a tiny business doesn't imply your aspirations are modest. However, expanding your company requires finance in the form of reputable small business loans. We therefore work on your behalf to clarify the entire procedure and obtain the funding required for scaling. Since we perform the job of locating the finest solutions for your circumstance, we save you time, hassle, and boost your chances of acceptance.
The Ideal Funding Solution For Small Businesses
We are aware of the particular difficulties faced by small enterprises. Just because you are small doesn't mean that you have insignificant requirements. You should have access to the resources required to generate sustainable growth, such as the tools, materials, and finance you need to expand your operations. We collaborate with SBA's Preferred Lending Partners to finance the expansion of your company using SBA 7(a) loans. We simplify the application procedure for you and assist you in obtaining the funding you require to expand. Another way we support small businesses is by offering you access to the most potential funding opportunities while also saving you time.
What Is An SBA 7(A) Loan?
Small business owners can apply for SBA 7(a) loans, which are given out by private lenders and partly backed by the U.S. Small Business Administration. Due to their appealing extended payback terms and low interest rates, they are the most popular type of loan for small enterprises. They also give you a lot of flexibility in how you can use your money for things like working capital, equipment purchases, and other things.
Do I Qualify for SBA Small Business Loans?
The Small Business Administration loan programs are the lifeblood of American small businesses. American small businesses can have access to funding and useful resources thanks to the Small Business Administration loan program. As the government is guaranteeing a large portion of the loan, investors are more likely to put money into it. It may also be simpler to get approval if the government is behind it. It's one of the SBA's most sought-after small business loans, so you wouldn't be alone if you were considering a 7(a) loan. In the event that a small business owner is unable to raise capital through more conventional means, the SBA may be able to help. You can still pursue your goals even if you don't have perfect credit or a steady income history. Applying for and receiving an SBA guarantee of up to 90% of the loan amount is a great bargain for new or small businesses wishing to expand.
SBA 7(a) Loan Eligibility Requirements
In order to get SBA support, you'll need to meet these requirements:
- For-profit businesses must be registered and legally operating.
- You cannot be on parole as a business owner.
- It must be a small business with fewer than 500 employees and annual revenue of less than $7.5 million.
- You must have a tangible net worth of less than $15 million and a net income under $5 million (after taxes).
- You must show that you are investing your own time and money into the business.
- You must be physically located in the United States and doing business in USA
_ You must be in an SBA-eligible industry (speculative and illegal and businesses not eligible).
_ You must have a sound business plan for SBA small business loans
- You must not be delinquent on any federal debt.
Additional Business Qualifications
These are a few additional qualities which helps with the approval process:
- 680+ credit scores
- No recent bankruptcies, foreclosures, or tax liens.
- 2+ years in business.
- Ability to provide collateral.
- At least 10% downpayment if you plan to purchase a business
- Cash flow to meet business obligations
Types of SBA Loans We Facilitate
We work with you to build your dream. Loan types include:
SBA 7(a)
Appropriate for most business types and most business needs, offering up to $5 million.
SBA 504
Helps fund long-term, fixed-asset loans up to $5 million.
Express Loan
Quick turnaround times—within 36 hours—are available with funding up to $500,000.
Export Express Loan
Up to $5 million in funding is available for businesses to use on expanding export capabilities.
Export Working Capital Loan
For businesess looking to fund working capital to support export sales, up to $5 million is available.
SBA CAPlines
Help small businesses manage cash flow with revolving lines of credit of up to $5 million.
SBA International Trade Loan
Help small businesses enter international markets and make needed investments to compete with other importers, offering up to $5 million.
An Attractive Choice For Your Small Business
We work with you to build your dream. Loan types include:
Low Interest Rates
SBA loans offer some of the lowest interest rates on the market.
Capital Availability
SBA 7(a) loans are easier to access than traditional loan programs.
Extended Repayment Terms
Terms ranging from 7 to 25 years make SBA 7(a) loans an attractive option for small businesses.
Low Down Payments
SBA loans typically have smaller down payments, ranging from 10-20% down or less for smaller loans.
Flexibility Of Use
SBA 7(a) loans offer flexibility in the use of funds.
Access To SBA Resources
After receiving an SBA loan, you gain access to the organization's vast network of resources, including mentorship and training opportunities.
What's the difference between 7a and 504 programs?
The main difference between these two SBA financing options is that the 504 loan is used mainly for purchasing or making improvement to a long-term fixed asset such as real estate or large machinery. It can provide up to $5 million for terms of 10-25 years.
Whereas, the 7(a) loan can also be used for property and machinery purposes, but is mostly geared toward more general small business purposes, such as acquiring an existing business or franchise, improving inventory, providing working capital and refinancing debt, over mostly 7-10 year terms.
What Is An SBA 504 Loan?
SBA 504 loans are also known as CDC/504 loans. These small business loans are offered by Certified Development Companies and are backed by the federal government.
SBA 504 loans offer borrowers long-term financing up to 25 years for major business purchases such as real estate or equipment. The maximum loan amount for most 504 loans is $5 million. Unlike other SBA lending programs, 504 loans cannot be used for working capital. Closing times are also longer than other SBA loan programs, taking up to a couple of months for approval.
Qualifying For An SBA 504 Loan
SBA 504 loans are typically easier to qualify for than traditional lending programs. In addition to meeting general SBA loan eligibility requirements, borrowers must meet specific criteria for the 504 program, including:
- Must be a for-profit business operating in the US
- Show a net worth of less than $15 million
- Demonstrate an average net income of less than $5 million for the two years prior to the application.
- In addition to these requirements, the SBA general requirements include:
- Meeting the SBA definition of a small business
- No delinquencies on any government loans, including federal student loans
- Strong personal credit history above 680 scores
Grow Bigger and Faster with SBA Financing
We understand the challenges that small businesses face when they want to grow. When it comes time to purchase real estate or high-dollar equipment, finding the right loan with the right terms can be difficult.
We work with SBA's Preferred Lending Partners to fund your large business purchases through SBA 504 loans. We make the application process easy for you so you can more easily obtain the funds you need to grow.
The Right Choice for Your Business
SBA loans have many benefits that make them an attractive choice over traditional loans.
Low Interest Rates
While your creditworthiness will factor into your loan rate, SBA loans have some of the lowest interest rates out there for small businesses.
Capital Availability
Unlike other loans that make it difficult to access capital, SBA loans make it easier to access the funds you need, up to $5 million through the 7(a) program.
Extended Repayment Terms
SBA loans offer attractive payment plans that help you better scale your business by making payments manageable. Depending on what you’re using the funds for, you can expect payment plans ranging from 7-25 years.
Low Down Payments
Most loans will require a down payment. SBA loans make your down payment more manageable, typically in the 10-20% range and no down payment for microloans.
Flexibility of Use
Many business loans sba have restrictions on what you can use the funds for. SBA loans are more flexible and allow you to use the funds for almost anything.
Access to SBA Resources
Securing an SBA loan means also getting access to the organization's vast network of resources, including mentorship and training opportunities.
We offer several funding programs for small businesses. We can help you secure the maximum amount of business loan possible for SBA financing. Our small business team is here to help you every step of the way.
We know that starting a business can be a daunting task, but we're here to help you make it as successful as possible. We provide small businesses with the funding they need to keep their employees on the payroll. Contact us today to learn more about our government-backed business funding programs and how we can help you get the business financing you need to grow your business.
