Frequently Asked Questions About SBA Loans

A good rule of thumb is to take 10x to 20x the amount you have to invest.

Ex: with a $100K investment you can consider a $1 million to $2 million purchase price

Keep in mind you can get a gift from a family member and use 401-K funds without early withdrawal or tax penalties.

Existing business owners and key employees might be able to put down ZERO!

SBA 7a loans have a $5 million maximum.

You don't need direct experience with us.  We will look at your work history and see if you have transferable skills.  We will also consider the complexity of being an owner of the business.

Big banks add additional criteria to what SBA requires and they are very selective.  Most of our clients start at big banks before they find success with us.

Business acquisitions are Prime +2.75% over 10 years.  Real estate is Prime + 1.75% over 25 years.

45-60 days.  The borrowers responsiveness sets the pace on how quickly the deal moves.

Most for profit businesses qualify.  No marijuana, no adult businesses and no non-profits

You can buy a business with no money down if you have been a key employee for 2 years.  The seller is required to carry a 2 year note on standby. 

 You can also buy a competitors business with ZERO down, no seller carry required.

The criminal matter must be settled and you must provide the court documents surrounding the matter.