QUALIFICATIONS

SBA Loans

Collateral Required: Revenue from Business and Personal Financials

Approval Amounts: Up to $5 million

Term: 10 to 25 years

Rates: Prime + 1% – 2.75%

Credit Requirements: Personal credit score 650+

Details:

  • Time in business – 2 years or greater

  • Showing some profits on business tax returns for 2 years (no losses)

  • No defaults on federal loan (VA, FHA or student loan)

  • Funding process 4 to 8 weeks

  • Can be used for working capital or real estate purchase

Acquisition Financing: 3 years of financials from the current business owner, 3 years personal tax returns, Business debt schedule, 15-20% down

Standard Submission Requirements: Application, Business Tax Returns, Personal Tax Returns, Personal Financial Statement, Business Bank Statements, Financial from Business Owner

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