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Small Business Administration 7a & 504

Secure the most competitive and innovative SBA financing for business acquisitions and expansion.  Common uses of SBA loans include buying land and building additional buildings on land, buying a business or franchise, or a a buying a commercial building and the equipment to needed to operate your business.  There are 3 primary types of SBA Loans.   

   

                                      Small Balance  *  7(a)  *  504b

      

You can expect the Most Innovative, Low Rate SBA financing as well as additional options for Start-Ups, Expansion, Franching & Business Acquisitions.

 

We Deliver More Options & Solutions, Helping You Save Money With Best Terms.

SBA Rates are Among the Very Best and 10-25 Year Terms

 SBA Express Financing Often Fulfills within 3 weeks, and Standard 7(a) & 504 within 45 Days.

  

Please Call with questions and speak with a licensed loan officer:  (888) 407-1008

We have Many Options Available to Provide Optimal Business Financing

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Small Balance Express

SBA Express loans are streamlined loans designed to provide faster funding than the other types of 7(a) loans. SBA Express Loans can be made in amounts up to $500,000 and can also be originated as lines of credit in addition to traditional term loans. However, if you need a rather small amount of money and can pay it back fairly quickly, a standard term loan, line of credit, or business credit card could be worth a closer look.  SBA Express loans are adjustable rate loans based on Prime + margin.
 
Funding usually occurs in less than 30 days.
Businesswoman in Office

SBA 7a

The SBA 7(a) loan program offers some of the best rates and terms for small business financing.
 
Amounts: $500k - $5 million
Terms: 10 - 25 years
Application Time: 30-45 days
Rates are Adjustable Prime + 
 
Used For:  

  • Acquiring real estate or improving real estate the business already owns. (Note: This doesn't mean investment properties -- SBA loans can generally only be used for real estate the business will operate in on a continuous basis.)

  • Purchasing machinery, equipment, furniture, fixtures, or supplies.

  • Acquiring an existing business in its entirety.

  • Working capital (short or long-term).

  • Refinancing existing business debt.

Beer Brewery Machine

SBA 504b

504 SBA loans are large loans of up to $5 million that are typically paid off over 10 to 20 years and are often fixed rate loans. They’re available to businesses with a net worth under $15 million and an annual net income below $5 million. You can use them to make large purchases like commercial real estate and heavy equipment. Can be used to expand or modernize buildings or add new facilities.
   
SBA 504 cannot be used for working capital, repaying or refinancing debt, speculative purchases or real estate for investment, nor consulting services or intellectual property. 

We Also Utilize Other Large Scale Financing Resources

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Agency Freddie & HUD

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Private Equity

Pros of SBA 7(a) Loans

  • Interest rates are capped by the SBA

  • Borrowers can take advantage of longer loan terms

  • Down payments are low and generally range from 10% to 20%

  • Up to 90% financing including 6 months of working capital, real estate purchase, and equipment needed to run your business.

  • Longer Terms help keep payments lower. Up to 25 years for real estate, up to 10 years for equipment and working capital or inventory
       

Cons of SBA 7(a) Loans

  • Application process is cumbersome and requires extensive documentation

  • Approval times are lengthy for standard 7(a) loans

  • Certain types of businesses are not eligible

  • Loans may require collateral

  • Qualification standards are rigorous

  • Most SBA loans require 2 years history in business

  • Require credit score over 680

  • Most require owner to earn > $100,000 in revenue per year and be profitable

Documents that are often Needed for SBA Loans

  • Borrower Information Form  (SBA Form 1919)

  • Statement of Personal History  (SBA Form 912)

  • Personal Financial Statement  (SBA Form 413)

  • Personal and business tax returns for the last three years if available

  • Financial statements, including profit and loss statements from the last three fiscal years

  • Projected financial statements, including a one-year projection of income and finances

  • Loan application history for the past year

  • Copies of business certificate or license, leases and other relevant legal documents

  • Business plan, including an overview and history of the company and owner resumes

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