How do SBA loans work?
An SBA loan can be a great way to get funding for your new business or franchise. Guaranteed by the Small Business Administration, these loans can supplement other forms of capital, such as 401(k) rollovers, to provide thetotal amount of financing you’ll require.
To qualify, you’ll need:
- Three years of applicable work experience.
- A credit score of 640 or more.
- 20% equity for an existing business; 30% for a startup.
- A solid income.
Our expert financing consultant can connect you with lenders to make it happen. Loans are available from $250k – $12.5 million, and there are types to meet any need: 7a, SLA and Patriot Express, just to name a few.