Business

Loan Types

Explore Your Options

Business loans are available to cover startup costs, seasonal support, expansion, and unexpected losses. If you need additional funding for your venture, there are many different loan types to consider. Inventory loans, equipment loans, expansion loans, cash flow loans, and business lines of credit are just a handful of options.
 

SBA business loans, including the 7(a) and 504 loan programs, make it easier to secure funding with capped interest rates and lenient down payments.

Business Term - Tier 1

Low Rates With Stricter Requirements

 

  • Loan Amount: $25,000 – $1,000,000
     
  • FICO: 680 Minimum
     
  • Time in Business: Minimum 3 Years in Business Required
     
  • Documentation: Full Documentation with Up to 3 Years Tax Returns Required
     
  • Business Cash Flow Requirement: Must Be Greater Than 1.15x
     
  • Collateral Type: Unsecured & Secured Options Available
     
  • Terms:  Up to 5 Years Fixed Terms and Amortization
     
  • Time to Close: Close in 20 - 30 Days

Business Term - Tier 2

Higher Rates With Less Requirements

 

  • Loan Amount: $25,000 – $250,000
     
  • FICO: 640 Minimum
     
  • Time in Business: Minimum 2 Years in Business Required
     
  • Documentation: Full Documentation with Up to 2 Years Tax Returns or Bank Statement Required
     
  • Business Cash Flow Requirement: Must Be Greater Than 1.00x
     
  • Collateral Type: Unsecured & Secured Options Available
     
  • Terms:  Up to 5 Years Fixed Terms and Amortization
     
  • Time to Close: Close in 20 - 30 Days

Line of Credit

Access to Money for Business Expenses

 

  • Loan Amount: $10,000 – $5,000,000
     
  • FICO: 700 Minimum
     
  • Time in Business: Minimum 5 Years in Business Required
     
  • Documentation: Full Documentation with Up to 2 Years Tax Returns Required
     
  • Business Cash Flow Requirement: Must Be Greater Than 1.25x
     
  • Collateral Type: Unsecured & Secured Options Available
     
  • Terms:  Up to 5 Years Draw Period
     
  • Time to Close: Close in 20 - 30 Days
     
  • Monthly Payments are Interest-Only

Equipment Lease & Finance Loans

Options to Rent or Own 

 

  • Loan Amount: $25,000 – $5,000,000
     
    • Application Only up to $500,000
       
    • Full Doc Up to $5,000,000
       
  • FICO: 680 Minimum
     
  • Time in Business: Minimum 2 Years in Business Required
     
  • Documentation: Application Only - No Tax Returns Required
     
  • Business Cash Flow Requirement: No Cash Flow Requirements
     
  • Collateral Type: Equipment Secured Collateral Invoice for The Equipment is Required For Funding
     
  • Terms:  Up to 7 Years Fixed Terms and Amortization
     
  • Time to Close: Close in 20 - 30 days

SBA Express

Working Capital Loan

 

  • Loan Amount: Up to $500,000
     
  • FICO: 680 Minimum
     
  • Time in Business: Minimum 2 Years in Business for Operating Company Required
     
  • Documentation: Full Documentation with 3 Years Tax Returns Required
     
  • Terms:  Up to 10 Years Fixed Terms
     
  • Time to Close: Close in 21 - 30 Days
     
  • Business Must Be U.S. Based and Owned By U.S. Citizen or Lawful Permanent Resident Who is at Least 21 Years Old
     
  • No Outstanding Tax Liens and No Recent Charge-Offs / Settlements
     
  • No Bankruptcies or Foreclosures in The Past 3 Years
     
  • Current on Government-Related Loans
     
  • Use of Proceeds Include:
     
    • To Provide Long-Term Working Capital to Use to Pay Operational Expenses, Accounts Payable and/or to Purchase Inventory
       
    • Short-Term Working Capital needs, Including Seasonal Financing, Contract Performance, Construction Financing, and Exporting
       
    • Revolving Funds Based on The Value of Existing Inventory and Receivables, Under Special Conditions
       
    • To Purchase Equipment, Machinery, Furniture, Fixtures, Supplies or Materials
       
    • Other Uses Include Partner Buyouts, Business Acquisition, and Book of Business Purchases for Professionals and Medical Professionals 

SBA 7A

Working Capital Loan
 

  • Loan Amount: Up to $6,000,000
     
  • FICO: 680 Minimum
     
  • Time in Business: Minimum 3 Years in Business For Operating Company Required
     
  • Documentation: Full Documentation With 3 Years Tax Returns Required
     
  • Terms:  Up to 10 Years Fixed Terms
     
  • Time to Close: Close in 21-30 days
     
  • Business Must Be U.S. Based and Owned By U.S. Citizen or Lawful Permanent
    Resident Who is At Least 21 Years Old
     
  • No Outstanding Tax Liens and No Recent Charge-Offs/Settlements
     
  • No Bankruptcies or Foreclosures in The Past 3 Years
     
  • Current on Government-Related Loans
     
  • Use of Proceeds Include:
     
    • To Provide Long-Term Working Capital To Use To Pay Operational Expenses,
      Accounts Payable and/or To Purchase Inventory
       
    • Short-Term Working Capital needs, Including Seasonal Financing, Contract Performance, Construction Financing, and Exporting
       
    • Revolving Funds Based on The Value of Existing Inventory and Receivables,
      Under Special Conditions
       
    • To Purchase Equipment, Machinery, Furniture, Fixtures, Supplies or Materials
       
    • Other Uses Include Partner Buyouts, Business Acquisition, and Book of Business Purchases for Professionals and Medical Professionals