SBA & Middle Market Business Loans
Loan Amount: $300,000 to $50,000,000
Rate: Prime + 2.75%
FICO Requirements: 640+ for loans up 5M. For loans over 5M, the approval is based on business performance.
Term: Up to 25 years on real estate.
Up to 10 years on equipment, leaseholds, inventory and working capital.
LTV: Up to 90% (applicable only when using Real estate as collateral)
Use of Funds: To purchase owner occupied real estate (must occupy 51% of the building), business acquisitions, equipment purchases, or refinance existing business debt.
Business Types: Manufacturing, distribution, motels, restaurants, auto repair, gas stations, retail businesses, day care centers, bed and breakfast, or any worthwhile business.
Benefits: Our lenders do not have any loan covenants, or deposit requirements. If a bank refers a deal to us that we successfully close, we will provide incentive for the client to set up a deposit account in your bank.
Underwriting: We will fund loans a typical bank will not because of poor cash flow, losses, high debt ratios, or covenant violations. If the business is trending positive, we'll consider the loan.