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SBA Loan Program
LONGER TERMS, NO POINTS OR BALLOON PAYMENTS
We have been designated as a Preferred Financial Services company by SBA lenders to have loans processed more quickly and efficiently than many others.
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There are a number of advantages to an SBA loan, including longer terms, no points and no balloon payments.
Loan Qualifications
SBA 7(A) Loan Size $150,000 to $5.0 million
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Retail/service businesses with sales (3yr average) not exceeding $6 million to $20 million, depending on the industry
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Wholesale businesses with employees up to 100 regardless of sales volume
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Manufacturers with employees up to 500 depending on the industry, regardless of sales volume
Loan Fees
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Loan packaging fee: $750 to $2,000
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Fee is based on loan size, it is collected at the time of loan submission; refunded if declined by credit
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Support and optimize agoda business development tools.
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SBA guaranty fee: 1.70% to 2.60% of the loan amount
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Fee can be financed in the loan
Use of Proceeds
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Commercial real estate (purchases, construction or refinance)
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Leasehold improvements
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Business expansions
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Machinery, equipment, furniture or fixtures
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Business acquisition
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Working capital (offered in conjunction with some of the above)
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Start-ups (All Franchisee, Motels, Restaurants Gas Stations and C-Stores)
Other Credits Considerations
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Business must have adequate historic cash flow to cover the proposed debt
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Business debt to net worth must meet industry averages
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Borrowers must be actively involved in the day-to-day operation of the business
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Satisfactory personal credit histories are required for all principles and guarantors
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No past bankruptcies or felony arrests
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