Your Solution to low-cost, long-term funding.
Low interest, long term money – US Small Business Administration (SBA) Loans are low interest, long-term loans for new and established small businesses.
Guaranteed by SBA – SBA does not fund these loans. However, it partially guarantees them to the participating banks and other lenders who actually provide these loans. Should the borrower default, SBA reimburses the lender with up to 85% of the loan amount.
Lenders are more willing to lend – As the guaranty reduces risk of the lenders in the event of default, they are more willing to lend to small businesses under SBA programs.
Easier for Small Businesses to qualify – As a result, many small businesses that would otherwise not qualify for bank loans are able to borrow low cost capital for longer terms.
Access to affordable long term capital – SBA guaranteed loans provide a huge opportunity for small businesses to gain access to affordable, long term capital to start, expand and grow their business.
Extensive documentation & lengthy process – While SBA loans are desirable, the application requires considerable documentation and the loan process can be relatively lengthy.
Requires good credit history – SBA loans generally require a good credit history, collateral, personal guarantee to secure the loan, and a lender loan package including a business plan with future projections.
Stringent eligibility criteria – Considering the stringent eligibility criteria, extensive documentation and relatively arduous funding process, many small businesses tend to shy away from these generous federally sponsored loans.
SBA’s Fastest Loan Program: Guaranteed up to 50%, reviewed by SBA within 36 hours, an SBA Express Loan is SBA’s fastest loan program.
Use of Funds – An SBA Express Loan may be used for working capital, purchasing equipment, renovations, real estate and more but cannot be used to reimburse an owner for previous investments in the business, pay delinquent withholding taxes, or for purposes not deemed “sound for business”.
SBA’s Most Popular Loan Program: SBA 7 (a) loans are small business loans up to $5 million. Guaranteed up to 85%, this is by far SBAs most popular loan program as its repayment term can extend up to 25 years, interest rates are low, and it can be used for a wide range of business purposes.
If you’re looking for low cost-long term traditional small business loan, this option should absolutely be on your list.
Get started by clicking the link below to schedule your free, no-obligation consultation.
We work with you to prepare and submit the combined loan package for SBA & the Lender.
Approvals and time to fund varies by loan type and lender- typically between 3-8 weeks
As much as they may seem intimidating, SBA Loans are perfect to fuel the growth and success of our nation’s small business. Count on our experienced team to qualify you for the program and prepare the combined loan package for SBA and the Lender to get you funded quickly and efficiently.