SBA LOAN
OVERVIEW
How do I get qualified for an SBA Loan?
The best place to start is the SBA website, which includes a loan application checklist. Use this to gather your documents, including your tax returns and business records; or speak with one of our experts to make sure you get approved.
Here are some of the documents you’ll need before applying:
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SBA’s borrower information form
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Statement of personal history
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Personal financial statement
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Personal income tax returns (previous three years)
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Business tax returns (previous three years)
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Business certificate or license
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Business lease
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Loan application history
SBA loan types:
7(a) loan program (SBA’s flagship loan program)
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Federally guaranteed term loans of up to $5 million
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Funds for working capital, expansion, equipment purchases
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Processed through banks, credit unions, specialized lenders
504 loan program
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Federally guaranteed loans of up to $5 million
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Funds for buying land, machinery, facilities
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Processed through private-sector lenders and nonprofits
Microloans
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Loans of up to $50,000
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Funds for working capital, inventory, equipment, starting a business
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Processed through community-based nonprofits
SBA disaster loans
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Loans of up to $2 million
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Funds for small-business owners affected by natural disasters and other emergencies
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Processed through the SBA
Products and services
BUSINESS LOANS & PRODUCTS
SMALL BUSINESS STARTUP FUNDING
Who Qualifies for Strategic Credit Lines?
As you might guess, many young and new businesses can qualify for a small business startup loan. Since you won’t have a lot of revenue history, the most important factor to lenders will be your personal credit score: The higher the score, the better your chances of qualifying.
SBA LOAN
Without a doubt, Small Business Administration 7(a) loans are one of the best ways to finance your small business. They’re guaranteed by the federal agency, which allows lenders to offer them with flexible terms and low interest rates. Getting one can help you grow your business without taking on possibly crippling debt.
BUSINESS CASH ADVANCE
A Business Cash Advance is a funding product that can provide quick and uncomplicated working capital to you – the business owner. You sell a specific amount of your business’ future credit and debit card receivables (at a discount) in exchange for cash you can use for whatever your business may need.
EQUIPMENT FINANCING
Equipment financing is a great way to purchase new or used equipment you need for your business. You can finance 100% of the equipments value and typically funds as fast as 2 days. Applying for an equipment loan is an easy way to purchase the finance of most types of equipment such as - Office phones, computers, pizza ovens, printing press, vehicles, and machinery.
SELF - DIRECTED 401K/IRA ROLLOVER
Rollovers for Business Start-ups allow you to leverage existing retirement funds to invest in a small business or franchise — without incurring tax penalties or getting a loan. It’s one of the most efficient ways entrepreneurs can finance a business start-up, acquisition or expansion.
TERM LOAN
A traditional term loan is a lump sum loan that you pay back with regular repayments at a fixed interest rate over a set amount of time. Most term loans are used to finance a specific purchase or investment you’re making for your business.
TERM LOAN
A traditional term loan is a lump sum loan that you pay back with regular repayments at a fixed interest rate over a set amount of time. Most term loans are used to finance a specific purchase or investment you’re making for your business.
