Government Backed Loans

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An SBA loan is a small business loan that is guaranteed in part by the U.S. Small Business Administration and typically made by a bank. SBA 7(a) Loan, which is the SBA’s most common loan program. SBA 7(a) loans ranging from $30,000 – $350,000 from banks in our network can be used for:

• Working capital that includes operational expenses, marketing, hiring, etc. 
• New equipment purchases
• Refinancing existing business debt not secured by real estate

Eligibility is based on many factors related to industry, time in business, credit history, and more.

We help you assemble your SBA loan application before it is sent to one of our preferred SBA banks for review and funding. We will go over all the required documents in detail.

Loans offered through banks in our network have a variable interest rate based on the Prime rate plus 2.75% to 6.5% depending on the size of the loan.  

Banks in our network typically charge a one-time packaging fee of no more than $2,500.

Bank closing costs for these types of SBA loans typically add about another $450 and include standard bank fees through additional third-party report charges that may apply.

Working Capital and Debt Refinance loans through banks in our network have no prepayment penalties. You can pay off your loan at any time with no additional cost.

Fees are an estimate and the actual amounts may vary. Fees are usually deducted from loan proceeds so you get the net amount when your loan is funded

Lenders can have slightly different guidelines when it comes to use of funds from an SBA loan. Because we work with multiple banks, we match you with the lender most likely aligned with the use of SBA loan proceeds you are seeking. An SBA loan from a bank in our network is a smart solution to help you reach your unique business goals and you can use the proceeds to save money and build your small business. 

Yes. We have helped many small businesses obtain an SBA loan offered from a bank in our network even after they have been turned down by other banks. 

Low rates, low monthly payments, and long terms make SBA loans the "gold standard" in small business lending. However, not every small business initially meets the requirements for an SBA loan. As a result, we also offer Bank Term loans in our network for small business owners that don't immediately qualify for an SBA loan or need funds more quickly than even our streamlined SBA process can provide. And if your small business can't qualify for an SBA or Bank Term loan, we still won't leave you hanging! We are solution based and pride ourselves on finding you the funding you need with our non-bank lending partner. 

Yes, many customers get a second SBA loan as their business grows and needs additional capital. If you receive approval for more than one SBA loan within 90 days of each other, the loans will be treated as if they were one loan for purposes of determining the amount of the SBA guarantee fees, if any. 

E-Tran is the SBA's proprietary scoring system lenders use to determine if the SBA will allow them to lend. Banks in our network must run this score when deciding to approve an SBA loan of $350,000, and less. If your E-Tran score is insufficient for an SBA loan right now, we may still be able to help your business access a fixed-rate, Bank Term loan. You can also take steps to improve the E-Tran score of your business over time. If your E-Tran score isn't meeting requirements, we encourage you to apply again for an SBA loan once you've made those improvements.

• ETRAN compares a borrower's attributes to those of past SBA borrowers
• Factors considered include personal and business credit scores, bankruptcy history, and delinquencies
• ETRAN scores range from 0 to 300
• A higher score indicates a lower risk of default

Why is an ETRAN score important? 

• A higher ETRAN score can increase a borrower's chances of approval for an SBA loan
• A lower ETRAN score can increase the likelihood of an SBA lender declining a loan

No, you can pre-qualify for an SBA 7(a) loan offered through a bank in our network without impacting your credit score. To determine if your business is pre-qualified, our banks review a  soft pull of your credit report. This does not impact your credit score. When your loan application proceeds to funding, the bank will request a hard pull on your credit, which appears as an inquiry on your credit report. This only happens after your application is in the funding process and matched with a lender who is highly likely to fund your loan.

No, the SBA does not require the use of an Agent for Packaging Services or to refer a loan application in order to apply for an SBA loan. Our clients choose to hire us for a variety of reasons including making the application process more efficient and increasing the likelihood of finding a bank that says 'yes'. In fact, many of our clients are turned away by a bank or simply turned off by how long the typical process takes them. We also find many clients take on an expensive loan from an alternative lender and save money by refinancing with an SBA loan. 

We collect both financial information and specific business documentation. Typical financial information we collect includes:

• bank balances
• a current income statement
• current balance sheet
• past net income
• outstanding loan information among other financial data. 

The larger the loan size, the more financial data is required. Typical documentation usually required for an SBA loan includes: 

• Articles of Incorporation and Certificates of Good Standing
• proof of insurance
• lease agreements and landlord subordination among others that can be specific to your business type.