With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans.
Can you use an SBA loan?
If you have a growing business, SBA financing can help you to:
- Purchase, refinance, or renovate real estate to operate your business, construct a business facility, or make improvements to an owner-occupied property.
- Purchase fixed assets. Includes assets such as heavy machinery or specialized equipment.
- Borrow permanent working capital or a revolving line of credit to manage day-to-day cash flow and purchases.
SBA loans provide many advantages:
SBA loans are typically easier to qualify for than conventional business loans.
- Longer repayment terms provide lower monthly payments.
- You may be able to borrow up to 90% of the collateral’s value.
- Any applicable fees may be financed directly into the loan.
Fees : SBA fees, packaging fees, and origination fees may apply and will vary based upon the type and the term of the loan.