SBA Loans for Small Businesses
Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.
Types of Business Loans
- Owner Occupied Business
- Purchase (New Business), Rehab, Constructions, Equipment
- 75% - 80% Max Financing
- Rates start in the mid to high 4's
- Variable and Fixed Interest rates available
- 10 Years max financing (if business has no real estate) / 25 years (if business has real estate)
- Required Documents for a Small Business loan
- Executive Summary
- Personal Financial Statement
- 3 yrs of 1040's
- 3 Years of subject 1120, 1065, Schedule C
- Tri-Merged Credit Report
- Profit and Loss Projections
- Business Plan
- Use www.creditchecktotal.com to avoid a hard inquiry
- Business should show profit of 2year average with current 1.15 (E.B.I.T.D. A.) (depending upon the history
- Offers express credit line offers 3 years on a revolving credit line then converts to SBA if there is a remaining balance. Rates start at Prime + 2.75% for funds over $150,000.
We have several funding options to suit all types of businesses. Whether you have A+ or sub 500 credit we have a program to help your business get funded.
Small business loans can sometimes take months to close. Working capital loans hlep you take advantage of many vendor offers and opportunistic buys.