Business Tax Returns
Three years corporate returns.
LOANS UP TO
You might have heard SBA loans are the gold standard for small business owners who want to expand. It’s true. Funds from these loans can be used in a multitude of ways to help a small business grow. Small businesses are the backbone of the American economy, creating jobs and driving innovation. However, starting, managing and growing a small business can be a challenging task, especially when it comes to securing financing. That’s where SBA loans and lines of credit come in. The SBA is a Government Vehicle that allows banks to lend money to borrowers while the SBA mitigates the majority of the bank’s risk. They offer Lines of Credit / 100% Equipment financing over 10 years / Working Capital / to Purchase a business / a building and or refinance any commercial debt.
SBA loans are a type of financial assistance provided by the Small Business Administration for small businesses in need of funding. These loans are designed to help entrepreneurs start or grow their businesses, providing them with the resources they need to succeed. Whether you’re looking to purchase equipment, expand your operations, or cover day-to-day expenses, an SBA loan may be the right choice for you The Small Business Administration (SBA) is a government agency that provides support to small businesses through various loan programs, the majority of which are processed through specialized lenders. These loans are designed to help small businesses access the capital they need to start, grow, or expand their operations. The loans are in two categories which are 7a loans (Ranging from seven to 25 years) and SBA 504 loans (Typically used to purchase real estate with only a 10% down payment required and fixed rates up to 25 years).
A lot of people think that the SBA hands out money directly to small businesses, but that’s not the case. Actually, the SBA provides a guarantee on the loan, which means that if the borrower can’t repay the loan, the SBA will step in and help out. This makes it less risky for the lender, so more banks are willing to offer loans to small businesses. The good news is that many banks and other financial institutions offer SBA loans, but keep in mind that the process, requirements, and fees can vary from one lender to another.
When you go for an SBA-guaranteed loan, you get a lot of benefits. The first one is that these loans have great terms. You can expect rates and fees that are just as good as other types of loans. Another perk is that some SBA loans come with extra support, like counseling and education. This can help you start and run your business more effectively. Lastly, SBA loans have some unique benefits that set them apart. For example, you might only need to put down a lower amount, the overhead requirements might be more flexible, and in some cases, you might not even need to provide collateral.
Gone are the days when small business owners only had one option for applying for an SBA loan – a brick-and-mortar bank. While one bank might not be interested, another might be a perfect fit. Thanks to technology, small businesses can now find SBA loan providers online with ease. The USA Funding has helped countless applicants who were initially rejected by their local banks successfully secure an SBA loan. How do we do it? We perform a detailed review of our client’s financial situation free of cost, in order to determine their ability to obtain financing with one of our partner lenders. Our team of professionals will take a detailed application and orchestrate the entire loan package for you. We will directly coordinate with the borrower’s CPA, attorney, and other professionals in order to facilitate a fast approval and then closing. Say goodbye to the hassle of going bank to bank and hello to a quick and efficient loan application process with USA Funding!
|Cash Advance Providers||Peer–to–Peer Lenders||SBA Loans|
from USA Funding recommended Banks
(including interest rate and fees)
|20% – 100%||9% – 36%||Starting at 5.8%|
|PRE APPROVAL||1 – 7 days||7 – 14 days||48 hours|
|LOAN TERM||to 1 year||1 – 5 years||10 – 25 years|
|TYPICAL PAYMENT FOR A $100,000 LOAN||$12,000 per month|
(daily payments required)
|$5,000 per month||$1,200 per month|
One of the most popular SBA loan programs is the 7(a) loan program. This is your go-to option when you’re looking for financial help for your small business, especially if you’re thinking about buying real estate. But it’s not just for that, it can also be used for other things like:
The maximum loan amount you can get through this program is $5 million, but for strong borrowers, participating lenders can increase the loan amounts OVER the $ 5 million threshold. Just keep in mind that your eligibility will be based on the company’s ability to repay the proposed loan, your credit history, and your overall project request. The good news is, USA Funding will work with you to figure out which loan is the best fit for your needs.
So, what does it take to be eligible for SBA’s 7(a) loan program?
Well, there are a few key criteria to keep in mind:
Not every business is fit for the 7(a) loan program. Learn more about the eligibility requirements, terms, and conditions, or by speaking to a USA Funding representative today.
A 7(a) loan can be used for a multitude of business requirements and objectives, such as:
Another popular SBA loan program is the 504 loan program, which provides long-term, fixed-rate financing for the purchase of owner-occupied property (51%).
The maximum amount of a 504 loan is $5 million. For energy-related projects, the borrower may be able to receive up to three loans, each with a maximum of $5.5 million, with an aggregate total of $16.5 million.
Do you want to find out if you qualify for a 504 loan? Here’s what you need to know:
Keep in mind, there are other eligibility requirements too, like having a solid business plan and management team, and the ability to repay the loan. Unfortunately, businesses involved in non-profit, passive, or speculative activities won’t be eligible.
A 504 loan can help you grow your business and create jobs by financing big projects like:
If you’re looking to take advantage of the program, here are some other benefits to consider:
But, here’s what you can’t use it for:
Before applying for an SBA loan, it’s important to be prepared and have all your documents ready. That way, you’ll move through the process more quickly.
At USA Funding, we use smart processes to only ask for the documents that you actually need, so you won’t waste time submitting unnecessary paperwork. This is just one of the ways we help busy small business owners save time. To make sure you have everything you need, here’s a checklist of the most common documents that we may ask for. It’s always a good idea to work with your accountant or tax preparer to gather any financial documentation.
Three years corporate returns.
Three years of personal returns (all principals owning more than 20% of the company).
Current interim numbers, can be internally generated.
If you’re buying an existing business, you’ll also need to provide:
Past three years of business returns on the subject business you are buying.
Franchise or licensing agreements – (if applicable).
Proof of equity injection.
At USA Funding, we understand the unique challenges small businesses face when it comes to securing financing, that’s why we offer expert assistance with SBA loan applications. Our team of experienced lenders, comprised of former high-level bankers and accountants, will work with you to customize the best loan program for your specific needs and guide you through the application process regardless of what specialized help you require
With the help of USA Funding expert lenders, small business owners can easily access the capital they need to start, grow, or expand their operations. Don’t let a lack of financing hold you back from achieving your small business goals. Apply for an SBA loan through USA Funding today and get the financial support you need to grow.
USA Funding is a commercial finance and bank servicing firm which acts as the loan production unit for several of the larger and more aggressive lenders participating in the NJ and NY markets. USA Funding generates processes and closes over a $100 MM a year in loan volume.
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