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SBA

SBA

For well qualified borrowers, SBA loans are an incredibly affordable financial solution. SBA loans are guaranteed by the government; therefore, eligibility guidelines are narrow. However, for those borrowers who do qualify you can expect low rates, terms up to 25 years, and loan amounts up to $10 Million.

As we mentioned SBA loans are government guaranteed; therefore, guidelines are as follows: strong business credit history, personal credit score of at least 680, must have been operating for at least two years, must not have defaulted any government guaranteed loan or debt including student loans, sba loans, etc.

Basic Required Documents:
Articles of Incorporation (or other similar document) of entity that holds real estate
Proof of EIN (SS4, Tax Return, IRS Correspondence, etc.) of entity that holds real estate
Owner’s Drivers License / ID Card
Owner’s Secondary ID (passport, military ID, utility bill, professional license with photo ID)
Proof of SSN (social security card, irs correspondence, etc.)
Application
Profit and Loss, last two years
Tax Returns (personal + business), last two years
Balance sheet, last two years
1) How fast does SBA loans take to fund? 2) I have bankruptcy history, does my business still qualify for SBA funds? 3) I am not a US citizen; can my business still qualify for an SBA loan?

SBA loans are notoriously slow, these loans are not processed through our office instead they are processed by the government. SBA loans typically take a number of months to actually fund

Possibly, if the bankruptcy proceeding concluded more than 7 years ago and the credit bureaus are no longer reporting the bankruptcy.

If you are a legal permanent resident, then you may possibly qualify.

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