If you don’t qualify for
a conventional bank loan,

an SBA loan may be the answer.
Contact Us Now to Get Started Or For More Information

SBA Loans

The Small Business Administration (SBA) has a number of financial programs for small businesses. At Benetrends, we specialize in assisting you with the entire loan process, from application to closing.

The 7a Loan Program is most commonly used to purchase a business, or expand an existing businesses.  Loan amounts range between $100k to $5 million dollars.  The loan application process can take 30 to 60 days to process. The maximum rate is 2.75% above prime. The SBA provides the lender with an 85% guarantee for loans up to $150,000 and for loans greater than $150,000 the guarantee is 75%.

Read more on the SBA website.

The 7a Loan Program:

  • Funding Start Up Costs of New Business
  • Construction of a New Building
  • Refinance of Business Debt
  • Working Capital
  • Purchase of Commercial Real Estate
  • Tenant Improvements
  • Equipment Financing
  • Inventory

Eligibility Requirements:

  • Strong personal credit
  • Industry experience of 2 years
  • May need to provide collateral
  • Usually 20% to 30% down
  • Written Business Plan
  • Provide 3 years of tax returns
  • Personal financial statement
  • A updated personal Resume

The 504 Loan Program offers long-term financing used to acquire real estate or equipment for expansion or modernization. The borrower is expected to come up with 10% and the bank takes a first mortgage of 50%.  The remaining 40% is raised by sale of debentures that provide the borrower with a 20 year fixed rate.  Most 504 projects are in the $200 k to $5 million plus range.

Read more on the SBA website.

The 504 Loan Program:

  • Start up or expand an existing business
  • Funding for franchises
  • Purchase real estate
  • Equipment financing
  • Longer terms for expansion projects, equipment or real estate purchases

Contact us to learn more today!