For many small business owners, the greatest obstacle that they face is a lack of financial resources in order to sustain their operations and fund their growth. If your company finds itself in need of financial assistance, the federal government has programs that can offer you a small business loan to help meet your needs. We here at SJB Growth Capital want to help you take advantage of these opportunities.
The Loan Programs Available to You
The federal Small Business Act has set forth guidelines on what companies in what industries may qualify for their loan programs. If you’re a manufacturer with less than 500 employees, a service provider with less than 100, or a retailer with annual sales revenues of less than $6 million, then your company meets the SBA size standards for a 7(a) loan. These loans are available for terms of up to 25 years with both fixed and variable rate options. Loan amounts may range from $200,000 to $5 million, with financing packages such as:
- 90% financing for real estate acquisition and refinancing
- 80% financing for business acquisition
- 100% financing for equipment purchases and debt consolidation
If your company exceeds the 7(a) program’s standards yet still has a net worth of less than $15 million and an annual NOI of less than $5 million over the previous two years, you still could qualify for a loan through the federal 504 program. These loans can be acquired for up to $12 million with the following financing options:
- 90% financing for real estate expenditures
- 80% financing for equipment acquisition
- First mortgages between $100,000 to $3 million
- Second mortgages between $100,000 to $5 million
The Fastest Turnaround Times in the Industry
As an SBA Preferred Financial Services provider, we work with lenders to whom authority has been delegated to approve loan applications. That means that we can get your loan application turned around that much faster.
You don’t need to face the financial obstacles that all small businesses encounter on your own. Let our team of financial experts here at SJB Growth Capital help you arrange the financing options that will help you get your business off of the growth and secure its financial stability now and into the future. To learn more about how to get started on applying for your federal small business loan, just give us a call today.