SBA Loans 

 TERM LOANS           EQUIPMENT FINANCING          BUSINESS LINE OF CREDIT          INVOICE FINANCING          SHORT TERM LOANS          MERCHANT CASH ADVANCE        EQUIPMENT FINANCING          SMALL BUSINESS STARTUP LOANS

 

A collection of long term, low interest loans for the purchase of fixed assets such as real estate, equipment or machinery, expansion capital, funding the purchase of another business, disaster recovery or even, in some cases, refinancing other debts. SBA Loans are partially guaranteed by the government and therefore more attractive to lenders.

 

 

 

  • Kitchen equipment for a restaurant

  • Computers and printers for an office

  • Building a new office space for an expanding company

 

 

  • Minimum Credit Score: 660.

  • Minimum Years of Operation: 2

  • Minimum Revenue: $100,000 annually

   

• Set payments at regular intervals

• Can be used for a wide variety of purposes

• Relatively low interest rate

• Long repayment schedule

• Lengthy application process

• May carry early payment penalty

• Variable interest rates may increase

Disclaimer: The above information is provided as a guideline. Some loan conditions may fall outside of these parameters. We recommend that you speak with one of our advisors before taking any course of action based on this information.

 

 

 

TERM LOANS IN DETAIL

 

The most common type of business loan, traditional term loans are what most people think of when they look for a loan. The bank or other financial institution loans you a lump sum of money, usually secured against collateral, and you pay that money back, principal and interest, with regular payments over a set time period. Interest can be fixed or variable, depending upon the amount of the loan and what the loan is for. The most common type of term loan, and the one we’re all familiar with, is a mortgage for a home or commercial property. Term loans work the same way.


While these loans usually come from a bank, there are other lending institutions available. Big Think keeps a comprehensive list of these lenders. Some lenders will only deal with certain types of businesses, while others focus on specific geographic areas.


If you qualify for this type of loan, you can use the money for anything your business needs, from equipment to expansion to covering short term cash shortages.


Term loans come with a wide variety of structures and terms, from short term loans with daily payments to five years with monthly payments. At Big Think, we can help you structure the best loan for your needs.

Ready to find the funding your business needs?

Fill in our simple and quick Loan Application Starter

sba loans

Below you'll find a summary of the various kinds of SBA Loans. Each summary has a button that leads to more detailed information. You can also access the SBA Loan pages from either the top or bottom site menus.


And, if you have questions or require further clarification, our Straight Cash advisors are ready and willing to help so please don’t hesitate to contact us.


7(a) LOAN GUARANTEE

These loans are very flexible and can be used to finance such business needs as expansion, equipment purchases, leasing, purchase of inventory and real estate or for working capital. Terms up to 25 years. Commercial Real Estate Loans are restricted to the building or purchase of business premises. Terms up to 25 years.

CDC/504 Fixed Asset PRogram

A CDC/504 loan is most often used to purchase major assets, such as real estate or heavy equipment with long life spans. Fixed interest rates with terms up to 25 years. A low down payment is required.




SBA CAPLines Program (SBA Line of Credit)

The CAPLines working line of credit program is a range of financial products designed to assist small businesses with their short-term and cyclical capital needs. In most cases, these products are only available to companies which already have a traditional SBA 7(a) or CDC/SBA 504 loan.


SBA EXPORT Loans

SBA Export Loans are designed to help small businesses expand in to foreign markets. There are three types of SBA Export Loan.





MicroLoan Program

The SBA MicroLoan Program provides working capital to smaller businesses. This capital may be used for a wide variety of purposes, including but not limited to inventory, machinery, raw materials and supplies, labor costs and marketing.



Disaster Loans

The disaster loan program, while available to home owners as well, can be accessed by small business owners whose premises have been damaged or destroyed by natural disasters for the purpose of repairs or rebuilding. There are three types of SBA Disaster Loan


Ready to find the funding your business needs?

Fill in our simple and quick Loan Application Starter