Your Small Business Loan Solution Center is Here
Finding the right financing package to set your business up for long-term success is a challenge for any company, but there are options designed to streamline the process for you. The Small Business Administration provides them through its 504 and 7a programs, allowing companies with solid growth plans to access the working capital they need to dig deep and invest productively in the assets that make small businesses successful.
Commercial Real Estate Loans
One of the SBA’s most popular programs, the funding for commercial real estate does have a few restrictions. For starters, companies do need to use the majority of the square footage available as their own facilities, and that percentage goes up to sixty-one percent for new construction. You also need to meet the Administration’s restrictions with regard to company size and financial health. When you do, though, you can buy practically any kind of property, including:
- Warehouses
- Restaurants
- Office buildings
- Factory spaces
- Auto repair shops
- Vehicle dealerships
- Storefronts
Equipment Loans
The equipment loans made available through the agency are often the best resource for small companies when they want to purchase new equipment instead of leasing it. That’s because SBA loans for equipment can have terms that run up to 25 years, with well-controlled interest rates that also help to keep your monthly overhead low. When you are ready to invest in the equipment you need to run your business in the long term, these loans are one of the most popular ways to do it.
Acquisition Loans
Buying another small business works well with these loans too, because the SBA is happy to facilitate the longevity of established small businesses. There are restrictions on the purchase amount, but up to 80% LTV is available for companies that earn less than $1.25 million annually.
Contact Us
Contact one of our associates today for more information about applying for an SBA loan with LuniCorp.