SBA

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SBA

SBA Loans are guaranteed by The U.S. Small Business Administration (www.sba.gov). Small Business Administration (SBA) guaranteed loan programs help with a full range of small business needs for any industry. An SBA loan can be used to construct new or purchase existing commercial owner-occupied real estate, to expand or modernize facilities, purchase equipment, finance business acquisitions or start ups, and finance inventory and accounts receivables.

Qualifications
Eligible for SBA Loans:

  • Operated for profit
  • Organized as a sole proprietorship, corporation or partnership (includes LLC and LLP)
  • Doing business in the U.S. or its possessions
  • Within SBA Loan size guidelines

Collateral and Loan Requirements

For many types of SBA loans, the assets being financed serve as the collateral for your loan. However, principal owners must have acceptable personal credit histories and may have to pledge available business or personally owned assets. SBA financing requirements can include:

  • Personal guarantees of owners with 20% or more ownership in the business. Personal guarantees from active owners with less than 20% ownership may be required
  • Accounts receivable and inventory, depending on collection history and marketability
  • Machinery and equipment
  • Real Estate and improvements