US SBA Review

You can use 7(a) loans for short-term and long-term operating capital, refinancing your current business loan, as well as buying furniture, consumables, and equipment. The maximum loan amount is $5 million. SBA Express has a maximum amount of $350,000. SBA Export Express has a maximum loan amount of $500,000. 

The maximum loan terms depend on your ability to repay the loan and on the purpose of the loan. If you are buying real estate for your business, you can take out a loan for up to 25 years. For equipment, the maximum term is ten years, and for working capital, the term is also ten years. The interest rates for 7(a) loans can be variable and fixed. 

The variable interest rate depends on the loan amount and its term. If you take out a loan of $25,000 or less, your rate will be calculated as a base rate plus 4.25% for fewer than seven years. For a period of more than seven years, the rate will be the base rate plus 4.75%. For amounts from $25,000 to $50,000, the indicators will be base rate plus 3.25% and base rate plus 3.75%, respectively. For amounts over $50,000, 2.25% and 2.75% will be added to the base rate, respectively, depending on the loan term. For a fixed rate, the indicators are different. For an amount of $25,000 or less, the rate will be 6% base rate plus 2%. For a loan amount of about $25,000 to $50,000, the rate will be 6% plus 1%. For amounts from 50,000 to 250,000, the rate will be a base rate of 6% without an additional rate. 

If you take out a loan for more than $250,000 at a fixed-rate, your rate will be 5% without additional rates. SBA can guarantee up to 85% for loans up to $150,000 and 75% for amounts over $150,000. The amount of the loan also affects the fee you will pay. For loans of less than $150,000, the fee will be 2% of the guaranteed amount, and lenders can keep 25% of the fee. For amounts from $150,000 to $700,000, the fee will be 3% of the guarantee amount. The fee will be 3.5% of the guaranteed portion for amounts from $700,000 to $1 million and 3.75% from $1 million.

Microloans allow you to take out a loan of up to $50,000 to help your small business. You can take out a micro-loan to buy inventory, equipment, and furniture. Microloans are issued through intermediate lenders. The interest rate of the loan depends on each of these lenders. The rate varies from 8% to 13%. The maximum loan term is six years.

This service will allow you to find an SBA-approved lender that suits you the most. The process is simple and is performed in several steps. First, you describe your needs, and later, after two days, you receive contacts of an SBA-approved lender. Then you contact them, compare the conditions and choose the best for yourself.

With this service, you can find investors to fund your business. Investors and businesses find each other through a Small Business Investment Company (SBIC) licensed by SBA. You can get debt, equity, and debt with equity. Each of these options has its conditions. If you take a debt, you can take an amount from $ 250,000 to $10 million with an interest rate from 9% to 16%, depending on investors. If you choose equity, investors contribute in exchange for your company's share. Usually, investments have an amount from $ 100,000 to $5 million. Financing in debt and equity options includes loans and ownership shares. Interest ranges from 10% to 14%. Investments range from $250,000 to $10 million.

This loan is suitable for you if your home, other personal property, or your small business has suffered physical damage. The same conditions apply to both Home and personal property loans and physical business disasters. This financing can be taken for a long-term maximum of 30 years. The interest rate does not exceed 4%. Moreover, there is no prepayment penalty fee for this type of loan.

This loan will help you restore your personal property or small business after the impact of natural disasters. Such cataclysms include wild, blood, wildfire, earthquake, and hail. You can also take this loan to finance the protection of your property from disasters.

This loan will help to fund your business to recover from a substantial economic injury. This loan is issued for a period of up to 30 years. The maximum loan amount is $2 million. The interest rate differs but does not exceed 4%. Moreover, there is no prepayment penalty fee for this loan.

If you are an employee who is a military reservist and you have been called to fulfill a debt, you can take this loan to help your small business. The maximum loan amount is $2 million. The interest rate is 4%. The maximum loan term is 30 years, depending on your ability to repay the loan. The loan does not have a prepayment penalty fee.