Small Business Loans (SBA)
As a small business owner, your most difficult task is finding the money to operate your business. Taking
the necessary steps to prepare for a small business loan can minimize the difficulty. We will assist you in
sourcing the best programs for you and package your loan to the right banker to ensure fast processing and
approval of your loan.
Who is Eligible for an SBA Loan?
Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers,
wholesalers, retailers and service businesses, as well as independent or franchise businesses. Applicants
must meet certain eligibility requirements that are designed to be as broad as possible so the program can
accommodate the most diverse variety of small business financing needs. If you want to be considered for an
SBA loan, email or call us for a free consultation.
7(a) loans:
Is the most basic and most commonly used type of loans. They are also the most
flexible, since financing can be guaranteed for a variety of general business purposes, including working
capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation
and new construction),leasehold improvements, and debt refinancing (under special conditions). Loan maturity
is up to 10 years for working capital and generally up to 25 years for fixed assets.
CDC/504 loan program:
A long-term financing tool for economic development within a community. The 504
Program provides small businesses requiring “brick and mortar” financing with long-term, fixed-rate financing
to acquire major fixed assets for expansion or modernization. A Certified Development Company (CDC) is a
private, nonprofit corporation set up to contribute to the economic development of its community. CDCs work
with SBA and private sector lenders to provide financing to small businesses.
When you are ready to start or expand your business and want to know more about the different features of the 7(a) and 504 loan programs or to determine which one is appropriate for you, Contact Us for a free consultation.