SBA Loan Advising and Processing

An SBA 504 loan provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation. Key features of an SBA 504 loan can include:

• Multiple repayment terms: 10-year, 20-year, and 25-year
• Interest rates pegged to an increment above the current market rate for 5-year and 10-year U.S. Treasury issues 
• Funding comes for three places:
• A certified development company - 40%
• A bank or credit union - 50%
• Small-business owner taking out the loan - 10%

The SBA is temporarily waiving fees for lenders and borrowers as part of its coronavirus relief efforts. Under normal circumstances, fees typically include SBA, CDC and bank or credit union fees, which vary. These fees are baked into the total loan amount, so a business owner’s only upfront cost is the 10% down payment.

SBA Express Loans are up to $350,000 which can be turned around quickly. Key features of an SBA express loan include:

• SBA Guarantees up to 50% on loans up to $350,000
• Capped interest rates
• Decisions are made by the lender
• Funding is a revolving line of credit with terms up to 7 years, extensions permitted
• Easy Applications
• Collateral required on loans over $25,000 and any amount over $350,000, the lender can use their own collateral policies

SBA 7(a) loans are a great option for financing small businesses. They offer flexible loan amounts, maturity, and rates to fit virtually any situation. If you need small working capital or a million-dollar note to build a facility this could be the loan for you.

• Loan Size: Can provide small businesses up to $5 million of capital.
• Loan Term: Variable loan terms. Up to 10 years for working capital and 25 years for real estate
• Loan Use: Can be used for working capital, equipment, buying a business or franchise, refinancing debt, and purchasing real estate
• Credit Requirement: Typically require a credit score of around 680
• Down Payments: Usually require a 10% to 20% down payment, as well as a certain amount of collateral

We have years of experience in handling SBA 504, SBA express, and SBA 7(a) Loans for businesses across the nation. We understand what is needed and what it takes to get you approved. If you do not qualify we can easily explore other options that fit your budget and business needs.