Archive for the ‘Small Business Loans’ Category
SBA Loan Financing
90% financing via the SBA loan program is common on purchases whether via the SAB 7a program or the 504 program. 85% financing on refinances is common on the 7a program as well. Comparable conventional loans are for the most part capped at 65 -70% of purchases and 55% – 60% on refinances.
For most small businesses keeping as much cash in the business, and not tying it up in there building is critical. Reserve are absolutely needed to help weather the ups and downs of day to day business. Running out of cash is one of the leading causes of failed businesses.
Here is a video of a client that we did an Inventory Line for to help her Business Grow.
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IMM Financial does Inventory Loans, Purchase Order Finance, Accounts Receivable Finance, Small Business Loans, Equipment Leasing, Merchant Card Advances, Letter of Credit and more.
A major misperception among business owners, regarding SBA loans is that they are all the same. Meaning, most business owners have the perception that all of the terms, processes and eligibility requirements are identical from one bank to the next. Although understandable, this simply is not the case.
There are many innovative lenders and banks that use the SBA guarantees to come up with some very interesting loan programs that can be a major benefit and or solution to business owners seeking commercial mortgages.
The SBA has received a bad wrap over the years due to its seemingly complicated and bureaucratic process. The assumption that many entrepreneurs have made boils down to that the SBA is basically just difficult to work with. Although true that the SBA does add on to the underwriting process, the key is to work with a lender that is an expert at dealing with the SBA guidelines, processes AND is set up as a national PLP (Preferred Lending Partner).