SBA & Business Term Loans
How it works
SBA loans are made by approved lenders and partly guaranteed by the U.S. Small Business Administration, which allows longer terms and lower down payments. The two most common programs are the SBA 7(a) and the SBA 504.
Who it's best for
- Operating businesses buying their building
- Business acquisitions and expansions
- Refinancing higher-cost debt
What lenders look at
- Business cash flow and tax returns
- Personal credit of owners
- Time in business
- Owner-occupancy (51%+ for real estate)