Financing Services:

SBA LOAN PROGRAM

Our partners have been designated as a Preferred Financial Services company by SBA lenders to have loans processed more quickly and efficiently than many others.

There are a number of advantages to an SBA loan, including longer terms, no points and no balloon payments.

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.

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

Contact us today about our SBA Loan Programs and other services.