Archives: Financing

A program to provide financial assistance to small businesses in need of growth capital. SBICs are privately owned and managed investment funds, licensed and regulated by SBA, that use their own capital plus funds borrowed with an SBA guarantee to make equity and debt investments in qualifying small businesses.

Funds start-up and existing businesses. No collateral required up to loans of $25,000. Turnaround time is within 36 hours. Interest rates are negotiable, fixed or variable; terms up to 7 years. Loans up to $350,000 (SBA guarantees up to 50%).

Program: Now the 7(a)-$350,000 and under model.
Maximum amount: $350,000 Percent of guaranty: 85% guaranty for loans of $150,000 or less; 75% guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty).

Program: Mission focused lenders only. Expires 03/15/17
Maximum amount: $250,000 Percent of guaranty: 85% guaranty for loans of $150,000 or less; 75% guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)

Loans under $50,000.
SBA Loans offer longer amortization rates than most commercial loans:
Working Capital loans: up to 7 years
Fixed asset loans: up to 25 years