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SBA Loan Programs Built for Big Things

SBA stands for Small Business Administration. It is a federal agency that provides support to entrepreneurs and small businesses nationwide. SBA's business loan programs are very popular nationwide. An SBA small business loan is highly sought after by entrepreneurs and small businesses. We understand that just because you’re a small business, that doesn’t mean you have small goals and dreams. But scaling your business to new heights takes capital in the form of reliable small business loans. That’s why we work on your behalf to demystify the entireand secure the money you need to scale. We save you time, hassle and increase your odds of approval since we do the work of finding the best options for your situation.

The Ideal Funding Solution For Small Businesses

We understand the unique challenges that small businesses face. Just because you’re small in size doesn't mean your needs are small. From equipment, supplies, and capital to expand your operations, you deserve access to the funds you need to create sustainable growth.

We partner with SBA's Preferred Lending Partners to fund your business growth through SBA 7(a) loans. We streamline the application process for you and help you secure the funds you need to grow. It’s another way we champion small businesses, saving you time and giving you access to the most promising funding opportunities.

What Is An SBA 7(A) Loan?

SBA 7(a) loans are designed for small businesses and are issued by private lenders and partially backed by the U.S. Small Business Administration. They are the most common type of loan for small businesses due to their attractive extended repayment term sand low interest rates. They also offer great flexibility in using the funds from working capital to purchasing equipment, and much more.

Do I Qualify for SBA Small Business Loans?

SBA loan programs are the backbone of America's entrepreneurial dreams. SBA loans are driven by a federal government program that delivers capital and business education to America’s small businesses. The government guarantees a significant percentage of the loan, making it a more attractive choice for lenders to back. Government backing also means that it can be easier to be approved. You'll be in good company if you think about applying for a 7(a) loan from the SBA—it's one of its most popular small business loans.

Small business owners can get assistance from the SBA if they are unable to secure funding elsewhere. You don't have to give up on your dreams because you don't have a pristine credit score or cash flow history! It's quite a nice deal for startups or small businesses looking to boost their growth if they apply and are approved to have the SBA guarantee up to 90% of the loan amount.

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, Faster

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.