Charley Pangus
$
8K - 350K
+
SBA
Loans
Old Business benefits the most from this option.
Requires an unconditional guarantee as business collateral. They take into account your time in business, annual revenue and your credit score.
loan amount
(minimun)
financing speed
2-6
weeks
interest rate
2.25-2.75
%
between
time in busines
2
years
(minimun)
credit score
good
required
SBA Loans
Requires an unconditional guarantee as business collateral. They take into account your time in business, annual revenue and your credit score.
Specifically known as the 7(a) SBA Loan, in this term loan lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender may include trading assets (using 10% of current book value for the calculation), and must take available equity in the personal real estate (residential and investment) of the principals as collateral.
Features:
Amount: $5,000 - $5,000,000
Interest Rates: ~2.25% - 2.75% depending on whether the loan matures before or after 7 years and on the kind of 7(a) loan
Loan Terms: Varies
Repayment: Flat monthly payments
Get Pre-approved Today
Apply Now
Pros
Low interest rate
Favorable repayment terms
Low down payments
Little to no collateral
Cons
Longer approval process than other unsecured loans
Good credit often required
Personal guarantee is often required
“Tim and Kevin are an amazing duo who are super responsive and pushed to help us get the funding we needed fast. Great team great service"
“Tim and Kevin are an amazing duo who are super responsive and pushed to help us get the funding we needed fast. Great team great service"
AS SEEN ON
Site Secure
We use bank-level security to keep your data safe.
