SBA Loans
Find the Right SBA Loan for Your Small Business
There are a number of advantages to an SBA loan, including longer terms, no points and no balloon payments. This makes them a great option for small businesses.
Sale & Lease Back
Many companies need working capital for expansion and do not want to use their bank lines for working capital. We have a program where we can use the equity in your existing equipment to give your company the working capital it needs. We buy your equipment and lease it back to you, and when all of the payments are made, you own the equipment again. Not only do you get to continue using your equipment through the process, but you get the working capital that you need in addition to earning back your equipment. This is a great form of short term loan.
Startup Program
Many companies need working capital for expansion and do not want to use their bank lines for working capital. We have a program where we can use the equity in your existing equipment to give your company the working capital it needs. We buy your equipment and lease it back to you, and when all of the payments are made, you own the equipment again. Not only do you get to continue using your equipment through the process, but you get the working capital that you need in addition to earning back your equipment. This is a great form of short term loan.
B, C and D Credits
In these tough economic times many businesses have suffered financially. Additionally, the owners of these companies have seriously damaged their personal credit. We have developed a “second chance” program to help these companies. We can structure your financial needs to help you rebuild your company, setting you up to find continued success.
Government and
Municipal Leasing
- Federal Government Agencies
- Armed Services
- State Agencies
- Public Schools
- Police Department
- Fire Houses
- Libraries
Who is Eligible for an SBA Loan?
Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers, wholesale, retail, and service businesses as well as independent or franchise businesses. We offer small business loans to both startup and well-established businesses.
Loan Qualifications
- Retail and service businesses with sales (3-year average) not exceeding $6 million to $20 million, depending on the industry
- Wholesale businesses with employees up to 100 regardless of sales volume
- Manufacturers with employees up to 500 depending on the industry, regardless of sales volume
SBA 7(A) Loan Size $150,000 to $2.0 million
Loan Fees
- Loan packaging fee: $750 to $2,000
- Fee is based on loan size, it is collected at the time of loan submission; refunded if declined by credit
- SBA guaranty fee: 1.70% to 2.60% of the loan amount
- Fee can be financed in the loan
Use of Proceeds
- Commercial real estate (purchases, construction, or refinance)
- Leasehold improvements
- Business expansions
- Machinery, equipment, furniture or fixtures
- Business acquisition
- Working capital (offered in conjunction with some of the above)
- Start-ups (ALL Franchises, Motels, Restaurants Gas Stations and C-Stores)
Other Credits Considerations
- Business must have adequate historic cash flow to cover the proposed debt
- Business debt to net worth must meet industry averages
- Borrowers must be actively involved in the day-to-day operation of the business
- Satisfactory personal credit histories are required for all principles and guarantors
- No past bankruptcies or felony arrests