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.

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.

Ideal 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.

Working Capital

SBA Working Capital loans are a great option for entrepreneurs who need funds for business operating expenses. These loans fall under the category of SBA 7(a) loans.

Debt Consolidation

With rates between 5-8% and terms between 5-25 years (depending on program and loan uses) refinancing debt through SBA loans offers affordable lending solutions for small and growing firms.

Equipment Purchases

SBA 7(a) Loans can be a great solution for financing long-term equipment. SBA International Trade loans can be used for fixed assets for construction, building, and real estate equipment for export transactions.

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

Avg. Term Length: 24-60 Months

No Collateral Requirements

SBA Loan Details

Qualifying Criteria:

  • 650+ credit score

  • 24+ months in business

  • $10,000+ average monthly bank deposits

Required Items:

  • Signed one page funding application

  • 3-5 most recent business bank statements

  • Business tax returns & more

SBA Loan Details

Qualifying Criteria:

  • 650+ credit score

  • 24+ months in business

  • $10,000+ average monthly bank deposits

Required Items:

  • Signed one page funding application

  • 3-5 most recent business bank statements

  • Business tax returns & more

No Application Fees

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.

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 Next Level Capital, 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. Let's take your business to the Next Level!

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