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SBA Loan

While partially guaranteed by the government, SBA loans help business get access to working capital while securing a low interest and long repayment term.

What is a SBA Loan?

A Small Business Administration Loan (“SBA Loan”) is a small business loan program administered by the Small Business Administration and is partially guaranteed by the government. This program works with other financial institutions to help give small businesses access to working capital that has longer terms and lower interest rates. Most businesses seeking working capital to purchase inventory, operate or expand a business can benefit from a SBA Loan.

Secure Financing For Your Business

Many companies have business needs such as expanding in technology or location, payroll needs, new marketing endeavors, which require access to working capital that have longer terms and lower interest rates. SBA Loan amounts typically range from $5,000 to $2 million dollars upon approval. Due to the fact that an SBA Loan is partially guaranteed by the government, it helps reduce the lender’s risks, which allows for the lower rates and longer terms.

Loan Amount From $5,000 - $2,000,000

Avg. Term Length
24-60 Months 

No Collateral Requirements 

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SBA Loan Details

Qualifying Criteria:

  • 650+ credit score

  • 24+ months in business

  • $10,000+ average monthly bank deposits

Documents Required:

  • Signed one page funding application

  • 3-5 most recent business bank statements

  • Business tax returns & more

No Application Fees

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Advantages

  • Government-backed and offer lower APRs and longer repayment periods

  • SBA programs offer both small and large funding amounts for optimal coverage

  • Businesses denied  could qualify

  • With large loan amounts and low SBA loan rates, these small business loans can be ideal for growth initiatives.

Disadvantages

  • SBA loan applications are more strict and time-consuming than applications for other term loans or working capital products.

  • The borrower may be required to make a down payment

  • Time to receive funds is slower which means that SBA financing may not be a good fit for certain business needs.

Why Choose Us?

Unlike traditional banks and other alternative lenders, at Wiseteam Consulting, we truly value your business. Your success is most important to us, so we’ll never over-leverage your business by offering you more funding than you can handle. Our simple application and quick approval process makes it easy for you to get the working capital your business needs, and our experienced funding consultants will walk with you every step of the way.