What is an SBA loan?

The Small Business Administration (SBA) has created a program of government-guaranteed loans designed to help give small businesses that may not otherwise qualify for credit get the funds they need. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options, letting you preserve working capital for other expenses.

Qualifying for an SBA loan is easier than qualifying for other loans. First, the SBA allows higher loan-to-value ratios. Depending on your loan request, you may be able to borrow up to 90% of your financing needs. Second, we consider the projected income of your business, not just historical cash flows, when making a decision. This may be especially advantageous if your business is growing rapidly.

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Who it's for

SBA loans are for businesses that are:

·                     Owner-operated

·                     For profit

·                     Organized as a sole proprietorship, corporation, or professional partnership

·                     Within the size guidelines designated by the SBA

·                     Unable to secure other credit under reasonable terms

Patriot Express SBA loans are available to applicants who qualify for SBA, own more than 51% of the business and are either:

·                     Veterans

·                     Active Duty Military

·                     Reservist or National Guard

·                     Spouse of the above

Every qualified applicant for all business financing products will automatically be considered for our standard SBA loan, SBA Express or Patriot Express when applicable.

SBA Express/Patriot Express features

·                     Available for amounts up to $250,000

·                     Available as a line of credit or term loan

·                     Designed to provide easy access to working capital and fund equipment purchases

·                     Loans in excess of $100,000 secured by business or personal assets

·                     Fixed or variable rates not exceeding 6.50% over prime rate (New York Prime rate)

·                     Maximum term of 7 years

·                     Fully and partially amortizing payment options

·                     Small Business Administration fee does apply to all loans

Other SBA loan programs

Additional SBA loan programs are available for equipment and real estate purchases with higher dollar amount and longer terms. For more information, please contact us at 1.866.283.4113

Some applications may require further consideration and additional information may be requested. Credit is subject to approval. Normal credit standards apply.