EXPRESS APPROVALS
- Nationwide
- Loans $100,000-$10,000,000
- Up to 80% LTV
- Up to 30 Year Financing
- Cash Out Programs Available
- Discounts for Multiple Properties
- Owner Occupied or Investment
- Lowest Rates in the Industry
Why SBA?
The U.S. Small Business Administration (SBA) offers a number of loan programs designed for business owners who may have challenges qualifying for a traditional bank loan. An SBA loan may offer longer term financing than is available through conventional means. In addition, the loans have a fixed maturity, and there is no prepayment penalty for loans under 15 years. The SBA lending experts at Angle Mortgage Network will make it easy for you to take advantage of the business loan programs available!
SBA loans can be used to provide financing for many reasons, including:
- Expansion or renovation
- Refinance of debt
- Business acquisition
- Inventory
- Purchase of real estate
- Equipment Purchase
- Construction Collateral shortfalls and projection-based loans are possible
- Working capital All fees and costs associated with the project
SBA 7(a) Guidelines
Loan Amount: $200,000 – $5,000,000
Minimum Capital Injection: 20% limited collateral, limited/no experience in industry, historical cash flow Debt Service Coverage (DSC) < 1.25X
10% 3+ years’ experience in industry, historical cash DSC > 1.25X
SBA Term Loans: 10 years (no real estate being acquired)
25 years (owner occupied real estate)
Prepayment Fees: None on term of less than 15 years
5%, 3%, 1% on terms of 15 years or more
Guarantors Minimum Collateral: All principals owning 20% or more of business
First lien on all business assets
Collateral assignment of life insurance for the amount of the loan on the guarantors
Mortgage liens on borrower or guarantor owned real estate (to comply with SBA guidelines)
Other Prequalification Credit Requirements: Access to additional liquidity equal to or greater than the proposed equity injection
Personal credit score of 650 or higher for all owners/guarantors (exceptions discussed)
Personal debt service coverage from income generated outside of the new business
*Loan maturities, rates, guarantees, and fees vary depending on each individual situation. We’d be happy to walk you through your borrowing options.
