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SMALL BUSINESS ADMINISTRATION (SBA)

A business that may not be able to get a traditional loan may be able to obtain funding through an SBA loan and at reasonable terms. The Small Business Administration guarantees major portions of the loans through the SBA loan program. A Business Finance Consultant knows the ways of these lenders and has the contacts to secure financing for virtually any type of business needs.

List of our SBA Deals. Purpose of use:  Purchase / Refinance / Cash-Out / Construction / Rehab

ASSET TYPES  ◆ Mixed-Use / Primary Commercial  ◆ Office  ◆ Retail  ◆ Light Industrial  ◆ Warehouse  ◆ Self-Storage  ◆ Automotive  ◆ Medical  ◆ Hotel  ◆ Gas Station / Car Wash  ◆ Restaurant / Food & Beverag

The SBA loans are obtained through our lending partners. These lending partners are SBA approved and they provide financing to the businesses under this program. Again, the government guarantees a major portion of the loan made to small businesses.

 

POINTS & INTEREST RATES... 

Even the most experienced business owners have difficulty understanding the relationship between the interest rate and the points or fees associated with their loans. The reality is that the two are directly related in that “points” are nothing more than the interest that is charged upfront. The actual rate and number of points a borrower pays are largely dictated by the quality of the borrower’s credit. As the credit quality decreases, the interest rate, points, and fees increase. This is because these loans are more difficult to fund and pose a greater risk of default to the lender. A document called the Truth in Lending Disclosure Statement will show you the Annual Percentage Rate (APR) and other payment information for the loan you have applied for.

The APR takes into account not only the interest rate but also the points, mortgage broker fees, and certain other fees that are associated with your loan. Also, ask if your loan will have a charge or a fee for paying all or part of the loan before payment is due (prepayment penalty).

A lender may require you to obtain certain settlement services, such as a new survey, mortgage insurance, or title insurance. It may also order and charge you for other settlement-related services, such as the appraisal or credit report. A lender may also charge other fees, such as fees for loan processing, document preparation, underwriting, flood certification, or an application fee. You may wish to ask for an estimate of fees and settlement costs before choosing a lender. Some lenders offer no cost or no point loans but normally cover these fees or costs by charging a higher interest rate.

The main primary SBA's  7(a) loan program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan.

Standard 7(a)

Maximum loan amount

: $5 million

SBA turnaround time

: 5-10 business days

Revolving

lines of credit

: Up to 10 years (Permitted only under CAPLines submission.)

 

7(a) Small Loan

Maximum loan amount

: $500,000

SBA turnaround time

: 5-10 business days

 

SBA Express

Maximum loan amount

: $800,000

SBA turnaround time

: Within 36 hours revolving

Revolving

lines of credit

: Up to seven years with maturity extensions permitted at the outset

 

Export Express

Maximum loan amount

: $900,000

SBA response time

: 24 hours

Revolving

lines of credit

: May not exceed seven years

 

Export Working Capital

 

Maximum loan amount

: $5 million

SBA turnaround time

: 5-10 business days

Revolving

lines of credit

: Terms of 12 months or less

 

International Trade

Maximum loan amount

: $5 million

Eligibility decision

: Made by the SBA

SBA turnaround time

: 5-10 business days

 

 AlignChance Financial, LLC, works directly with the approved SBA appropriate lending partners.  When making this decision, we consider whether the lender:

  • Has the ability to process, close, service, and liquidate loans.
  • Has the ability to develop and analyze complete loan packages.
  • Has satisfactory SBA performance.
  • Faster response process.

Let us get started.

 

 

 

 

 

 

 

 

 

 

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