We help our merchants qualify for SBA 7A loans for one simple reason – it is, hands down, the best loan product in the country. A government backed SBA 7A loan almost always bears a rate of 6% or 7%, with payback term of up to 25 years. Loans usually start at at least $250-300k, and go up to $5 million or more.
We also help with this program because it is very difficult to qualify. Frequently we work with merchants who tried to qualify directly with an SBA lender but could not. In fact, most of the businesses we help get SBA loans have been repeatedly given the impression by commercial lenders that they do not stand a chance of getting such a loan. There are many important, strategic decisions to be made during the SBA qualification process. Its one of the reasons it is difficult for people to qualify on their own.
It is also a very time consuming process. Merchants who need fast cash, now, are unlikely to get help out of an SBA.
How it works
If the process moves quickly, it may be possible to fund an SBA inside of 60-90 days. However, to ensure the commitment, it may be necessary refine and correct the businesses’ finances, repair owner’s credit scores, get appraisals on real estate collateral, and so on. For some of our clients this may be a process that takes up to a year. Regardless of how long it takes, if you are working with us on our SBA program, you can be assured that we are making a long-term commitment to you as our client.
The effort is worth it though. SBA 7A’s pay off all of a businesses’ existing debts! They provide working capital, they refinance or help purchase commercial and residential real estate, and all on terms that simply do not exist anywhere else in the business financing industry.
Our SBA program can also be linked to bridge loans. Bridge loans are medium length secured or unsecured loans that help fix businesses’ cash flow. They are designed to prepare for getting the SBA commitment. As with other corporate debts, the bridge loan is then absorbed by the SBA.
While qualifying for an SBA, we can also look at merchant’s qualifications for other programs. This includes bridge loans, hard income real estate loans, and merchant cash advances. For well qualified merchants there may be still more options. Call us today to find out what we can do to help your business get a game-changing SBA loan.