Rundown of an SBA Loan
The maximum amount for a loan is $5 Million
One of the most manageable financing options
Great for businesses that are expanding
SBA loans are extremely popular, as the SBA guarantees up to 85 percent of loans that are $150,000 dollars or less and 75 percent of higher amount loans. If you are hoping to open a new business location, hire more staff, or even refinance an existing loan, an SBA loan is a top choice for you.
Many business owners appreciate SBA loans because they are fast, last a long time, and have a streamlined process. If you are in need of a loan quickly, SBA loans are an idea choice.
How are these loans repaid?
Working capital or daily operations: seven years
New equipment purchases: 10 years
Real estate purchases: up to 25 years
WHAT ARE THE REPAYMENT TERMS FOR SBA LOANS?
Usually, SBA loan holders have much longer to repay them than other loans. Your term will depend on how you intend to use the money. For example, your money can go to anything from equipment purchases to working capital.
- Working capital or day-to-day operations: Seven years
- Equipment purchase: 10 years
- Property purchase: up to 25 years
With these loans, a longer term means a lower payment. Keep your money in your business instead of using it for bills.
Benefits of an SBA Loan
There are several loan options with different repayment plans!
SBA Loans applications are simplified and streamlined for your convenience
SBA Loans are structured to help your business grow and not be stifled by unmanageable payment plans.
If you believe an SBA loan could be the help you need to make your business thrive, reach out to Merchant Flow Financial today. With 10 years of helping business owners achieve their dreams, we know a thing or two about financing small companies. We have the expertise to point you in the right direction — not just the loans.
Contact Merchant Flow Financial today for financial help with your small business.