SBA Loans for Qualified Small Businesses
On top of all of our other commercial finance options, Prime Start Capital is also proud to announce our status as a preferred lender of Small Business Administration loans. That means the SBA has authorized us to process our own applications, allowing us to streamline the process for all of our clients’ companies. As a result, we are able to help you access the small business loan solutions as efficiently as possible while still offering the guarantees and conditions that you expect from Administration-backed loans.
The Small Business Administration does allow for its loans to be used to purchase existing businesses as long as they are financially healthy and their annual income is below $1.25 million. Purchases can be financed to 80 percent, and terms up to 15 years are available, allowing you to confidently make a long-term investment in a business your community is already familiar with.
Commercial Real Estate Loans
Another area where the SBA can provide your business with opportunities is in the purchase of real estate for use as facilities. Your company needs to occupy the majority of the square footage, but you will be able to find financing for buildings up to $15 million as long as you have the right financial history. Finance almost any building type, including:
- Auto repair shops
Last but definitely not least, equipment loans make up a large portion of the loans the Administration gives out each year. That’s because startup companies can often have trouble accessing financing without help, and equipment is one of the most vital resources for any business. That’s why these loans have 25 year terms available, and why they have such low, controlled interest rates.
If you are ready to start an application for your next small business loan, contact us today.