SBA Loans
There are multiple types of SBA loans
SBA 7(a): This is the primary SBA-guaranteed loan. With a limit of up to $5 million, this can be used to refinance current debt and purchase equipment, supplies, or property with added working capital.
SBA 504: These are long-term fixed-rate loans used to acquire real estate or equipment through commercial lending firms. With a limit of up to $15 million, these can be used to retain or expand your business.
SBA Express: The express SBA loans are offered up to $350,000 and the turnaround time is much faster, with an average closing time period of 1 month.
Requirements:
- 700 Credit
- Last 2 Years Profitable Shown on Tax Returns
- No Judgements or Defaults