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SBA Capital Programs & Requirements

 

Merchant / Business Cash Advance

  • In business for a minimum of 6 months
  • Monthly credit card sales of $4,000+
  • Physical business location
  • In good standing with business lease
  • No open bankruptcies
  • Separate business bank account

Business cash advance amounts range from $3,000 to $250,000. Factor rates typically range from 1.12 to 1.29 depending on amount advanced, estimated repayment term (6-18 months), and risk.

*Business cash advances are not loans. They are a purchase and sale agreement. Future sales are sold at a discount in exchange for up-front capital. Repayment carries no fixed term and payment amounts are variable based on monthly sales volume. Factor rates show the cost in cents on a dollar. For example, a 1.12 factor rate equals $120 in cost for every $1,000 advanced.

 

Business Loans

  • In business for a minimum of 6 months
  • Average gross monthly sales of $10,000+
  • 500 minimum credit score for business owner
  • Limited negative bank balance days and NSFs
  • Positive closing business bank balances
  • Good standing with business lease
  • Processing credit card sales is not required

Business loans have fixed payments that are auto-debited each business day or weekly. Amounts range from $7,500 to $500,000. Repayment terms are 6-24 months and rates range from 12% to 29% on average.

 

Equipment Leasing

  • Startups OK with satisfactory credit
  • 550 minimum credit score for business owner
  • Documentable cash-flow sufficient to cover lease payment.
  • No open judgments
  • Tax liens must be on payment plans and current
  • Good standing with business lease

Lease amounts can range from $5,000 to $250,000 and rates are typically between 6% and 24%. Terms are typically between 2 and 5 years but some leases will go out to 10 years for large purchases.

Unlike car leases, the equipment will be owned free and clear by the business at the end of term. There are many different type of leases. Our leasing consultants can help you decide which type is best for your specific needs.

 

Small Business Administration Loans

  • Owners must be US Citizens
  • No previous default on any Government backed loan (including Sallie Mae student loans)
  • No outstanding judgments or delinquent taxes owed to the IRS
  • Startups OK
  • Detailed business plan required
  • Full documentation including profit loss and balance sheet
  • Collateral sufficient to cover loan amount (Express Loans excluded)
  • 10% down payment or capital injection for purchase transactions

Most SBA loans carry variable interest rates tied to the Prime Rate and terms can vary from 5 to 25 years.

Traditional SBA 7(a) loan amounts range from $250,000 to $5,000,000 and will require full collateral including personal real estate if necessary.

Unsecured SBA Express loans are the easiest to get funded. No collateral is requirement and minimal paperwork. Maximum loan size is $25,000 and maximum term is 10 years.

 

Toll Free: 1-800-563-4780

E-mail: info@sbacinc.com

 

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Small Business Advance Capital, Inc
9603 Deereco Rd, Suite 300, Timonium, MD 21093
1-800-563-4780
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Small Business Advance Capital, Inc is not affiliated with or endorsed by the Small Business Administration or the U.S. Government