SBA Loans

There are more small businesses in the United States than there are large corporations. But small businesses often struggle when it comes to finding financing. The Small Business Administration makes it easier for small businesses to get loans so they can create jobs and thrive.

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Lending Overview

SBA loans cover expenses like buying new real estate, renovation, construction, business acquisition, equipment, refinancing, and mixed use. To qualify, a business must have less than $15M in net worth and less than $5M in net annual revenue. Some business types don’t qualify, such as casinos, churches, and nonprofits. Having a low credit score doesn’t disqualify you from getting an SBA loan. In fact, you have to have been turned down by other lenders before applying. SBA loans are great for women, black, and minority-owned businesses that don’t get attention from other lenders. If your small business is having a hard time convincing lenders to give you a chance, contact a broker about applying for an SBA 7a or 504 loan.

Thorough Vetting

SBA Loan Advantages

Low down payments

Capped interest rates

Fixed or variable interest

Working capital available

How to Effectively Apply Funds

As a small business, it can be hard to raise enough capital to handle major expenses like buying real estate and equipment. With an SBA loan, you don’t need to save up a large lump sum. With down payments as little as 10%, you can get an SBA loan that makes it easy to afford what you need. Because the SBA doesn’t let lenders charge high interest rates, you don’t have to worry about paying a lot on your loan. But you can’t get an SBA loan directly through the administration. You have to apply with private lenders who’ve agreed to work with the SBA. To find the right lender for the loan you need, talk to a broker. We’ll help you compare rates so you get the best deal.

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Real Estate

Whether you’re looking to renovate property you own or buy new real estate for your business, an SBA loan can get you the funds you need. With as little as 10% down, you can choose a 20 or 25-year term. The SBA keeps interest rates low, to make it easier for small businesses to manage their property needs.

Equipment

It’s hard to do business without equipment, even if that equipment is only a phone system, or a copy machine. But high equipment prices can be a stumbling block for small businesses. That’s why the SBA offers fixed and variable rate loans with a 10-year term and low down payment.

Mixed-Use

If you want to combine two types of loans in one, the SBA 7a can make it happen. You can buy property and get working capital to fix it up without a separate loan. Get $5M or more for your next construction project, office space, or warehouse. Ask us how today.

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F.A.Q’s

Q. What are the employee requirements for SBA loans?

The SBA uses size standards to determine who qualifies for an SBA loan, but they change depending on the type of business. You can download the SBA’s table of size standards here to see if you fit, or you can speak with a broker.

Q. What are SBA loan interest rates?

The SBA’s loan interest rates are based on the U.S. Prime Rate. This rate changes based on the Federal Reserve’s actions. Ask your broker for the current Prime Rate. They’ll help you access lenders with the lowest rates for your SBA loan.

Q. What is the easiest SBA loan to get?

In addition to the SBA 7a and 504 loans, the SBA has an express loan that’s easy for small business owners to get. It can be approved fast and have the same low down payments as other SBA loans. Find out more by speaking with a broker.

Q. How much can you borrow with an SBA loan?

The SBA will guarantee a max of $5.5M based on your type of loan. However, lenders can offer more than that amount. If you need more than $5.5M in financing, your broker can help you find the right lender.

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