Get Secure SBA Loans
You can get approval for as much as $12 million dollars in financing with low interest rates and generous payment terms with secure SBA loans.
Secure SBA loans are perfect for a business looking to expand. And they are great for the purchase of a new business or franchise. You can also use them for partner buy-outs. Or use them for the purchase or construction of commercial real estate. And you can use them to get working capital for a business.
Business owners can be approval for between $200,000 and $12 million dollars in secured SBA business financing. So they can get the money they need even for big projects and large acquisitions.
What Are the Terms?
SBA secured programs also offer lengthy terms of ten to twenty-five years to help keep monthly payments low. Plus, the interest rates are outstanding. They are as low as 2% over prime. This further helps to ensure loan payback terms are very affordable. And these secured loans help you maximize cash flow. This is because they provide high loan to values, as high as 90%.
What’s Out There for Secure SBA Loans?
SBA 7(a) and SBA 504 loan programs are available. But what are the differences?
The SBA 7(a) program offers loan amounts of $500,000 to $12 million dollars.
This program is perfect for a business owner looking to purchase a new business or franchise. It is also a great program for partner buy-outs. And you can use it for inventory expansion, or opening additional locations in leased space. Try using it for build outs and renovations. Or you can even use it for securing money for working capital.
Through the SBA 504 program business owners can get approval for between two-hundred thousand and $5 million dollars in SBA funding.
You can get money to buy real estate for an owner occupied business. You can also get funding for renovations, expansion, or major equipment. Or you can even finance ground-up construction. So you can get the money you need to buy a new office. Or you can even build a new office for your company.
What Are the Rates?
Business owners can get approval for SBA secured programs. And get low rates typically ranging from 2 to 2.75% over the prime interest rate. These are some of the lowest interest charges of all business financing options.
What Do These Loans Cost in Terms of Points?
And a borrower will only need to pay 1 or 2 closing points. So this goes along with SBA’s included 2 to 4.5% one-time fee for SBA 7(a) loans. Any and all closing costs with SBA loans can be rolled into the transaction. This thereby ensures it is affordable and cost-effective for you to secure your new loan.
How Much Documentation is Necessary for Secure SBA Loans?
Both SBA 7(a) and SBA 504 programs are full documentation programs and will require your business financials to get approval. To get approval, a business owner will need to hand over two or more years of business tax returns. So they will need to provide personal and business financials.
What is the Process?
The lender will review both your personal and business credit reports to determine approval. A business can get approval for as much as $12 million in financing. And this is in as little as 4 to 8 weeks.
And, you will get a loan with some of the best payback terms, and lowest interest rates available today. So this is versus all other types of business financing.
How Can Credit Suite Help?
SBA Financing is one of many financing programs available for you and your clients through the Business Finance Suite. So check out the video below to learn more about SBA and other government loans.