Small Business Administration (SBA) provides loan programs for small businesses in eligible industries.
SBA Lending Program Highlights:
- All for-profit businesses can apply
- Purchase, refinance, construction, renovation, expansion, or business acquisition
- Eligible projects must include real estate and can be combined with otherĀ collateralĀ such as furniture, inventory, receivables, and working capital
- Minimum borrower investment of 10%
SBA 7a Loan Program
- Loans from $500,000 to $3,000,000
- Seller held second mortgages allowed
SBA 504 Loan
- Up to a 25 year term with no balloon or call
- Projects up to $2 million
- 50% bank loan
- 40% SBA loan
- 10% borrower’s funds
- SBA fixed rate second mortgage
Any offer of credit is subject to credit approval.
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