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03-29-2023, 04:39 PM #1
Micah is correct - the SBA just guarantees the loan to the bank at 85%
$500,000 SBA will require collateral - business assets and maybe personal assets as well, depends on the lender.
But it's 10 years at 10.5% at 30 years with a monthly payment
Term loan could be 2 - 5 years but interest in the 20's.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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