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Understanding

SBA Loans

The U.S. Small Business Administration encourages local economic growth and job creation by supporting small businesses. If you’re a small business owner, you can access $5M or more at low-interest rates. Even if you’ve been turned down by other lenders, the SBA can give you a second chance.

The SBA provides loan support for real estate, construction, working capital, equipment, and refinancing. Most loans require a 10% minimum down payment compared with 20-30% from commercial lenders. Fixed or variable interest rates are available depending on loan type.

To qualify for an SBA loan, you’ll need to meet certain income and employee requirements. Businesses with a maximum of $15M in net worth, $5M in net annual income, and between 100 and 1,500 employees are considered “small businesses” by the SBA. Some business types, such as nonprofits, do not qualify for SBA loans. Ask your broker for more information.

how to

Effectively Apply Funds


Real estate and equipment loans are valuable financial tools, but they won’t cover short-term operatios. SBA loans cover a range of business expenses from construction to working capital. The SBA 504 loan and the SBA 7a loan are the two most common SBA-backed loans. They each work a little differently, but both can be used for real estate, equipment, and construction. Only the 7a will give you working capital.

Approval for these loans depends on several factors, including your time in business, stakeholder background, and financial records. One requirement is that you have exhausted other financial resources before applying. This often means you’ve been turned down by other lenders. That makes SBA loans great for businesses that have struggled in the past.

If you’re looking to buy real estate, you can use either the SBA 504 or the SBA 7a loan. However, they have different terms and rates that could make one better suited to your needs than the other. As an example, SBA 504 loans are better for businesses with multiple partners because it protects against liens on outside collateral. If you need to add working capital to your real estate loan, the SBA 7a is a better option. For more details, speak with one of our professional brokers. nal costs. When you need more flexible financing, use a working capital loan from one of our network lenders. Working capital loans let you pay virtually any business expense with just one loan application. Use one to supplement lagging income, start a new project, or keep it on hand in case of emergency.

Working capital loans come in a variety of different choices from SBA 7a loans to lines of credit. Which one is right for you depends on your specific business needs. That’s why it’s important to meet with a broker and outline your financial goals. They’ll match you with a lender who offers the right terms and rates to suit your company. Contact one of our reliable brokers today.

SBA Funding Options

Real Estate

SBA loans are ideal for small businesses looking to onboard real estate or construct new properties. You can get a fixed or variable rate on 20 and 25-year terms with a low-interest rate and a 10% minimum down payment. Discover which SBA loan is right for your small business – call us today!

Equipment

Financing the essential equipment your business needs can be a struggle. Instead of paying a lump sum upfront, finance your equipment with an SBA loan. Terms are up to 10 years and interest rates are capped by the SBA so you won’t pay sky-high rates for your loan.

Construction

Finding the ideal property in the right location can be impossible. That’s when it’s time to build it yourself. Get a low rate on an SBA construction loan to finance your big project. With 10% down and a 25-year term, SBA loans make building your custom space affordable.

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FAQS

Q. Am I eligible for an SBA loan?
The SBA has a set of eligibility guidelines for all of its loans. Most small businesses are eligible, but there are some exceptions. Non-profits, casinos, religious organizations, real estate agencies, and rare coin and stamp dealers are not eligible. You must also have “reasonable owner equity” to invest. For full details about applying for an SBA loan, contact a broker.
Q. Are SBA loans good for minority-owned businesses?
Yes, the SBA has programs geared specifically toward giving minority and women-owned businesses a fair chance in the marketplace. Several lenders work with the SBA that specialize in lending to disadvantaged businesses. Ask your broker for more information.
Q. Can an SBA loan be used to buy a business?
Yes, you can acquire a business with SBA loan funds. Both the SBA 7a and SBA 504 will help with buying an established business that already has staff, inventory, and customers built-in. Speak with a broker about which SBA loan is right for your small business.
Q. When is an SBA loan not a good fit?
To get an SBA loan, you must have a clean criminal history, no current federal debt, and be based in the United States. Many businesses don’t meet the eligibility criteria and should seek financing elsewhere. Consider a hard money loan, line of credit, or private lender as an alternative. Your broker can point you in the right direction.

SBA Loan Advantages

Low

interest rates

10% minimum

down payment

Multiple

uses

Fixed or variable

rates are available

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