Secured Small Business (SBA) Loans
SBA offers several programs including 504 and 7a loan programs. SBA programs can be used for many purposes including purchasing a new business, partner buy outs, real estate acquisition, and even working capital. Approval amounts will vary based on the collateral their business has and the amount of net profit reflected on their tax returns.
|Approval Amount||up to $250,000 – $12 million|
|Credit Quality||Good Credit Accepted|
|Collateral||Collateral equal to 50% of loan amount is required|
|Approval terms||long-term loans, rates as low as 2% over current prime rate|