There’s a new brand of SBA loan these days and it can’t be found at most banks. While many banks have raised their minimum loan amount for SBA loans to $500,000 there is one product that is available for those business owners that need less. This SBA loan is becoming known as the micro- or mini-SBA loan.
Don’t be fooled, it is nothing more than a standard SBA 7(a), however, it allows for sub-$500,0000 loan amounts. As a matter of fact, it allows for loan amounts down to $50,000!
The qualifications are the same as a standard SBA 7(a) loan. There are minimum credit score requirements with exceptions, loan to value must be around 80% and the individual should have general experience and working knowledge of the business or industry for which the loan will be made.
However, the powerful part is that this loan can help small businesses achieve the cash they need for growth without having to take on more debt than they can handle. Find out how one of these special loans can benefit you and your business today! Been turned down by a bank because the loan amount you requested was too small? Apply today!
Lending in all 50 states and focusing on Micro-SBA, Mini-SBA and SBA 7(a) loans in the markets and submarkets listed in the S&P Case Shiller Home Price Index and the surrounding secondary markets to those cities. We look for opportunities in: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Fort Lauderdale, Orlando, San Diego, New York, San Francisco, Phoenix, Atlanta, Tampa Bay, Detroit, Minneapolis-Saint Paul, Charlotte, Dallas / Fort Worth, Portland, Seattle, Cleveland, Oklahoma City, Jacksonville, Indianapolis, Nashville, Kansas City, Louisville, Milwaukee, New Orleans, Philadelphia, Raleigh, Sacramento, Salt Lake City, San Antonio, San Jose, Saint Louis, Tucson, Austin, Baltimore.