SBA 7a Loans – Benefits You Just Can’t Beat
The U.S. Small Business Administration (SBA) offers guaranteed commercial loans by the federal government for small businesses. These loans are offered through approved partners and not directly through the SBA and First US Finance is one of those partners. SBA 7a loans are great for businesses that want to refinance high rate debt, expand their location, acquire new equipment, open a new location, acquire working capital or for start-up businesses ready to launch their new concept. The loan is flexible for numerous businesses purposes and is an unparalleled program to get longer terms, lower rates and the best conditions compared to standard business loans.
Use of Proceeds
Machinery & equipment — Purchase or refinance
Business acquisition and partner buyout
Franchise finance — Acquisition, refinance, expansion and start-ups
Working capital
Loan Amounts
$350,000 to $5,000,000
Terms
Machinery & equipment = 10 years (with exceptions for longer useful life)
Business acquisition = 10 years
Low, friendly pre-payment terms
Rates are based on the Federal prime interest rate plus 2-3% depending on business model.
All 7a loans are fully amortized with no balloon payments
Borrower Benefits
Long repayment terms, reducing monthly payments
Increased cash flow to invest in and expand your business
Financing available for most industry types including: industrial, manufacturing, office, medical/ professional, retail, hotels, gas stations/c-stores, franchise restaurants, and more
All we need to see if you could qualify is a business summary, a completed finance application and the use of funds and we can quickly determine if you have a chance to be approved.