You can be approved for as much as $12 million dollars in financing with low interest rates and generous payment terms with secured SBA loans.
Secured SBA loans are perfect for a business looking to expand, for the purchase of a new business or franchise, partner buy-outs, the purchase or construction of commercial real estate, even obtaining working capital for a business.
Business owners can be approved 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.
SBA secured programs also offer lengthy terms of ten to twenty-five years to helpkeep monthly payments low.Plus, the interest rates are outstanding, as low as 2% over prime, further helping insure loan payback terms are very affordable. And these secured loans help you maximize cash flow as they provide high loan-to-values, as high as 90%.
SBA 7(a) and SBA 504 loan programs are available.
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, inventory expansion, opening additional locations in leased space, build outs and renovations, even for securing money for working capital.
Through the SBA 504 program business owners can be approved for between two-hundred thousand and $5 million dollars in SBA funding.
You can obtain money to purchase real estate for an owner occupied business. They can also obtain funding for renovations, expansion, major equipment, and even ground-up construction. So they can get the money they need to buy a new office, or even build a new office for their company.
Business owners can be approved for SBA secured programs and obtain 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.
And a borrower will only need to pay 1-2 closing points along with SBA’s included 2-4.5% one-time fee for SBA7a loans. Any and all closing costs with SBA loans can be rolled into the transaction insuring it is affordable and cost-effective for you to secure your new loan.
Both SBA 7a and SBA 504 programs are full documentation programs and will require your business financials to be approved. To be approved, a business owner will be asked for two or more years of business tax returns and personal and business financials.
The lender will review both your personal and business credit reports to determine approval. A business can be approved for as much as $12 million in financing in as little as 4-8 weeks.
And, you will get a loan with some of the best payback terms, and lowest interest rates available today versus all other types of business financing.
SBA Financing is one of many financing programs available for you and your clients through the Business Finance Suite. Check out the video below to learn more about SBA and other government loans.