We have been designated as a Preferred Financial Services company by private, non-bank SBA lenders to have loans processed more quickly and efficiently than all others.
There are a number of advantages to an SBA loan including lower down payments, longer terms, no points and no balloon payments.
Who is eligible for an SBA loan?
Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers, wholesale, retail and service businesses as well as independent or franchise businesses.
SBA 7(A) Loan Size $500,000 – $5 Million
Use Of Proceeds
- Commercial real estate (purchases, construction, or refinance)
- Leasehold improvements
- Business expansions
- Machinery, equipment, furniture or fixtures
- Business acquisition
- Working capital (offered in conjunction with some of the above)
- Start-ups (ALL Franchises, Motels, Restaurants Gas Stations and C-Stores)
Other Credits and Considerations
- Business must have adequate historic cash flow to cover the proposed debt
- Business debt to net worth must meet industry averages
- Borrowers must be actively involved in the day-to-day operation of the business
- Satisfactory personal credit histories are required for all principles and guarantors
- No past bankruptcies or felony arrests