SBA & USDA Loan Programs

Our partners have been designated as a Preferred Financial Services company by SBA / USDA lenders to have loans processed more quickly and efficiently than many others. We have also teamed up with the only Exclusive USDA Direct lender in America.

There are a number of advantages to an SBA / USDA loan, including longer terms, no points (Except USDA) and no balloon payments.

Who is Eligible for an SBA Loan?

Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers, wholesale, retail and service businesses as well as independent or franchise businesses.

Loan Qualifications

  • Retail and service businesses with sales (3-year average) not exceeding $6 million to $20 million, depending on the industry
  • Wholesale businesses with employees up to 100 regardless of sales volume
  • Manufacturers with employees up to 500 depending on the industry, regardless of sales volume

SBA 7(A) Loan Size $150,000 to $5.0 million

SBA Express Loan Size From $30K To $350,000

SBA Micro-Loans Up To $50,000

SBA 504 Loans Up To $5.0 Million

SBA Export Loans – From $250,000 to $5.0 Million

SBA Loan Fees

  • Loan packaging fee: $750 to $2,000
  • Fee is based on loan size, it is collected at the time of loan submission; refunded if declined by credit
  • SBA guaranty fee: 1.70% to 2.60% of the loan amount
  • Fee can be financed in the loan

USDA Loans 

  • Loan Amount: $1 Million to $25 Million
  • Does Not Have To Be Owner Occupied
  • Interest Rate: WSJ Prime + 0.5 – 2.75
  • Term/Amortization: Up to 30 years
  • Pre-Payment: 5 Year Declining to 10 Year Declining
  • Origination: 2 Points
  • USDA Fee: 1.8% – 2.4% of Loan Amount
  • USDA Annual Renewal Fee: 0.3% – .4% of Outstanding Loan Amount
  • Property Eligibility: 97% of the US Land Area Is Eligible
  • LTV: 76% LTV for RE / 60-70% LTV for M&E / FF&E
  • Collateral: 1:1 Discounted Coverage
  • Projected Debt Service Coverage: 1.25
  • Guarantor: Acceptable Credit and PFS

Use of Proceeds

  • Commercial real estate (purchases, construction, or refinance)
  • Leasehold improvements
  • Business expansions
  • Machinery, equipment, furniture or fixtures
  • Business acquisition
  • Working capital (offered in conjunction with some of the above)
  • Start-ups (ALL Franchises, Motels, Restaurants Gas Stations and C-Stores)

Other Credits Considerations

  • Business must have adequate historic cash flow to cover the proposed debt
  • Business debt to net worth must meet industry averages
  • Borrowers must be actively involved in the day-to-day operation of the business
  • Satisfactory personal credit histories are required for all principles and guarantors

Contact us today about our SBA Loan Programs and other services.

 

Items To Have Available To Speed Up The Process (May Vary Per Loan Product):

  • Profit & loss Statements
  • Financial Projections
  • Ownership and Affiliations
  • Business Certificates and Licenses
  • Loan Application History
  • 2 Years of Income Tax Returns (Personal & Business)
  • Bank Statements (3 to 12 Months)
  • Schedule of Business Debt
  •  2 Years Pro Forma Financials
  • Copy Of Your Business Lease (if you lease property)

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