The SBA is known as the Small Business Administration and acts as an independent federal government agency with its focus being to promote small business lending by insuring business loans with banks and lenders across the country. All SBA lenders are not created equally and we have strategically partnered with the top SBA lenders in terms of getting your loan approved with the least amount of headache possible.
SBA Micro Loans
These are small SBA loans ranging from $5,000 to $100,000 and can be obtained rather quickly sometimes without income proof and less paperwork. Typically a business plan and other business documents are required to secure these loans. These loans can be used for startup, inventory, working capital or most business expenses.
SBA 7(A) Loans
This is the most well known and used of the SBA loan programs. The proceeds of an SBA loan can be used to acquire or establish a new business. Loan amounts can go all the way up to $5,000,000, but often are $2,000,000 and below. SBA guarantees 85% of the loan to lenders on loan amounts up to $150,000 or less and a 75% backing on loan amounts up to $150,000.
SBA 504 Loan
The 504 SBA loan is mostly used for long-term, financing to acquire major fixed assets like commercial real estate, equipment/machinery and buildings. This program can in no way be used for working capital, regular business expenses, inventory purchase or filling accounts receivables gaps. Loan amounts can go in to the millions and can be for existing real estate or new construction. Our SBA commercial real estate lenders are among the best in the country.