SBA – Small Business Administration

SBA – Small Business Administration

What is an SBA?

An SBA is a loan which is 75% backed by the government and 25% backed by the lending institution that services the loan. It is a standard simple interest, monthly payment and the rates are the lowest you will find when it comes to business loans.
Typically the rates are in the low 6% range, the rates are derived from Prime Rate + a margin.

How does it work?

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Hybrid Term Loan

What is a Hybrid Term Loan?

A Hybrid Term Loan is a simple interest loan but could either be a weekly or monthly payment. These loans are underwritten using algorithms to streamline the process so funding can occur within just a few days.

How does it work?

It’s a standard simple interest loan but could have either a weekly or monthly payment.

How long does it take?

Typically it takes about 3 -4 days from start to fund, the underwriting method helps speed up the process.

Who does this make sense for?

A business that is new or had minimal poor profits 2 years prior but on the most recent return shows a solid level of profitability. It’s also a way to get a simple interest monthly payment with less hassle if you willing to take a higher interest rate.

How do I know if I qualify?

We collect the most recent year business and personal tax return, 6 months bank statements and application for submission. You need to show modest profitability on your tax returns to be approved. Rates will range from 10% – 23% fixed, simple interest.

 

We are founded by professionals who have helped build some of the largest fast business loans Minnesota,  fast small business loans Minnesota, small business loans Minnesota , largest small business loans Minnesota, business loans solution  Minnesota, business financing  loans Minnesota,SBA business loans Minnesota

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