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SBA 7a Loans

Loan Amounts From:

$100,000 to $2.0 million

 

Benefits:

  • Long amortization schedules, reducing monthly payments
  • Expand your business by freeing up your cash flows.
  • Finance options are available for most industries which include: hotel/motels, marinas, restaurants, gas station/convenience stores, restaurants, day care centers and car washes.
  • Down payment as low as 15% on multi-purpose real estate acquisitions and as low as 15% on single-purpose real estate acquisitions.

 

Terms:

  • Real estate - up to 85% financing, up to 25 years, Prepayment penalty for first 3 years
  • Business acquisition - up to 80% financing, up to 10 years, No prepayment penalty
  • Refinance – up to 85% financing, up to 25 years, Prepayment penalty for first 3 years on terms greater than 15 years.
  • Rates are based on Prime plus a margin. Rates will depend on the specific strengths of the transaction.
  • SBA Guarantee Fee is paid directly to U.S. Small Business Administration. Fee varies based on loan/guarantee amount. Other customary fees also apply.
  • All 7a loans are fully amortized and are assumable.

 

Use of Proceeds:

  • Real estate ¬- purchase, construction, renovation or refinance of commercial real estate. Majority of space must be owner-occupied. Loans up to $2.0 million
  • Business acquisition - business, franchise or professional practice. Loans up to $2.0 million
  • Machinery & equipment - purchase or refinance. Loans up to $1.5 million
  • Start-up – franchised businesses such as restaurants and hotel/motel. Loans up to $2.0 million

 

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