Under the U.S. Small Business Administration’s various “SBA loan” programs, you can borrow money for nearly any business purpose—including adding to working capital, purchasing inventory or equipment, refinancing other debts, buying real estate or even funding the acquisition of other businesses.
Many businesses—including small or new ones—can qualify for an SBA loan!
The most important factor will be your credit score: SBA loans are for business owners with strong borrowing histories.Be prepared: SBA loans usually require a lot of time, energy, attention and documentation.
It’s definitely not a loan that you’ll apply to and receive the funding for in a few days, but it is a loan you can use grow you business, refinance your other debt and more at the lowest available rates.
You might find it difficult to qualify for an SBA loan if your company has a limited track record or if your credit is poor. After all, the SBA and your lender are sticking their neck out on the belief that you’re a reliable borrower.
WHAT IS AN SBA LOAN?
An SBA loan is a long-term, low-interest small business loan partially guaranteed by the government. This could be real estate, equipment or machinery, expansion capital, funding the purchase of another business, disaster recovery or even, in some cases, refinancing other debts.
As Little As 3 Weeks
Starting At 6%
5 - 25 Years
5,000 - 5 Million
Pros & Cons
Lowest down payment
Longest payment terms
Relatively low interest rates
Used for a wide variety of purposes
Lengthy application process
Longer approval times
Variable interest rates may increase
May require collateral
Most Businesses Who Qualified Had:
TIME IN BUSINESS
2 Year Minimum
What Documents Will I Need To Apply?
Voided Business Check
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Debt Schedule
Secure Your SBA Loan Here
Applying Does Not Affect Your Credit!
Disclaimer: The above information is provided as a guideline. Some loan conditions may fall outside of these parameters. We recommend that you speak with one of our advisors before taking any course of action based on this information.