Small Business Administration (SBA) Loan

The Small Business Administration (SBA) has a number of financial programs for small businesses, like the commonly used 7(a) Loan Program, but the process to get your funding in place can be confusing. These funds can be used for anything from construction of a new building to stocking inventory.

Benetrends has been securing SBA financing for 35+ years and has one of the best loan approval success rates in the industry. With a large and expanding network of lenders, you will have choices when it comes to selecting a loan. You’ll also have access to our dedicated staff – experts in loans for businesses – to ensure the fastest possible application processing, including a dedicated loan closer to assist with the closing process.

Other benefits of working with Benetrends includes:

Customized solutions based on your individual needs - one size does not fit all
Typical cash injection of 20% on SBA loans (not the 25-30% quoted by other providers)
Fixed-rate loans available in most areas with a total cash injection of 25%
10% cash injection in TX, CO, FL, IL and MO
Loans secured in all 50 States
Working capital lines of credit after 3-6 months in business - 48-hour approval and funding in less than one week
Expedited approvals/funding on loans $150k or less with no personal collateral
Expertise with emerging brands,mature brands, single location, multi-unit expansion and re-sales
FREE pre-qualification

7(a) Loan Program:

This is most commonly used to purchase a business or expand an existing one. Loan amount you can qualify for: $50,000 to $5 million.

WHEN TO USE SBA ADVANTAGE LOAN PROGRAM:

Funding of new business start-up costs
Construction of a new building
Refinance of business debt
Working capital
Purchase of commercial real estate
Tenant improvements
Equipment financing and inventory

ELIGIBILITY REQUIREMENTS:

May need to provide collateral
Usually 20% to 30% down
Written business plan
Three years of tax returns
Personal financial statement
Updated personal resume

SBA Preferred Loan Program (FastTrack Program)

The FastTrack Program is an easier, more streamlined process that many find suit their desire to get their business funded, open and running quickly. Given our high success rate of 97%, this has become one of our most successful funding options.

Loan amount you can qualify for: $50,000 to $150,000

THE BENETRENDS ADVANTAGE:

No charge for qualification screening
Process and send application after in-house review and issuance of service agreement
Money-back guarantee on 100% of our fee (restrictions apply)
Feedback on applications within 48 hours, and closing within 45 days of approval
Approval within five to seven business days
Low interest rate

ELIGIBILITY REQUIREMENTS:

Strong personal credit
No bankruptcy judgements of liens within the past 10 years
Requires 20% equity injection in most cases
For-profit business
If you’re going to buy a franchise, the brand needs to be on the SBA-approved registry

504 Loan Program

This long-term financing is 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 the sale of debentures that provide the borrower with a 20-year fixed rate.

Loan amount you can qualify for: $200,000 to $5 million+

When to use the 504 Loan Program:

Start up or expand an existing business
Fund a franchise
Purchase real estate
Finance equipment
Require longer terms for expansion projects, equipment or real estate purchases

Small Business Administration (SBA) Loan

7(a) Loan Program:

WHEN TO USE SBA ADVANTAGE LOAN PROGRAM:

ELIGIBILITY REQUIREMENTS:

THE BENETRENDS ADVANTAGE:

ELIGIBILITY REQUIREMENTS:

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