These types of loans are typically structured to include working capital or new equipment and, in most cases, use commercial real estate as collateral. Our SBA loan experience can prove to be invaluable when acquiring a business. The SBA’s 7(a) loan program is one of the most common avenues of business acquisition and can offer up to $5 million in funds for working capital, equipment purchases, real estate purchases, and startup costs.
Features
- Up to 90% financing for general industries
- Up to 90% financing (sometimes more) for Professionals, Franchises, and Senior Care
- Financing for new buyer(s), franchise acquisition, and partner buyout
- 10-year term, longer if real estate is included in the transaction
- Goodwill financing available
- Can include working capital and new equipment
Benefits
- Lower down payments
- Helps you build and maintain cash flow
- One loan for many of your business needs
- 10-year term, longer if real estate is included in the transaction
Pre-Application Checklist:
Documents to have available for a call with our team:
- All current mortgage statements
- Current bank statements and/or account balances
- List of all owners having 20% or more ownership in the subject business along with any affiliates (if applicable)
- List of all current business debts and their respective monthly payments
- Tax Identification Number for the business and/or its affiliates
- DUNS (Data Universal Numbering System) number
