Financing Solutions
SBA Loan Initiative
We have been recognized as a Preferred Financial Services provider by SBA lenders, allowing us to process loans more swiftly and effectively than many competitors. SBA loans offer several benefits, such as extended repayment terms, the absence of points, and no balloon payments.
Loan Qualifications
Retail and service enterprises with a three-year average in sales ranging from $6 million to $20 million, contingent upon the specific industry. Wholesale companies with a workforce of up to 100 employees, irrespective of their sales figures. Manufacturers employing up to 500 individuals, based on the industry, without regard to sales volume.
The SBA 7(A) loan amounts range from $150,000 to $2 million.
Our Services
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Loan Fees
Loan packaging fee: Varies from $750 to $2,000.
The amount of this fee is based on the loan size and is charged at the time the loan application is submitted. If the application is rejected due to credit-related concerns, this fee will be refunded.
SBA guaranty fee: Ranges from 1.70% to 2.60% of the overall loan amount. This fee can potentially be incorporated into the loan financing.
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Use of Proceeds
Commercial real estate transactions (including purchases, construction, or refinancing)
Improvements to leasehold properties
Expansion of business operations
Acquisition of machinery, equipment, furniture, or fixtures
Business acquisitions
Working capital (available alongside some of the aforementioned options)
Start-up ventures (covering all franchises, motels, restaurants, gas stations, and convenience stores)
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Other Credits Considerations
It is essential for a business to possess sufficient historical cash flow to support the proposed debt. The ratio of business debt to net worth should align with industry standards. Borrowers are expected to be actively engaged in the daily operations of the business. All principals and guarantors must have acceptable personal credit histories. Additionally, there should be no prior bankruptcies or felony convictions.
