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Types of Financing
SBA Loan Program
EMAX Financial Services
is a nationally recognized company helping entrepreneurs
achieve their business goals. We have been designated
as a Preferred Financial services company by SBA lenders
to have loans processed more quickly and efficiently
than many others.
There are number of
advantages to an SBA loan, including longer terms, no
points and no balloon payments.
Who is Eligible
for an SBA Loan?
Most for-profit small
businesses are eligible for an SBA guaranteed loan.
This includes manufacturers, wholesale, retail and service
businesses as well as independent or franchise businesses.
Loan Qualifications
- Retail and service businesses
with sales (3-year average) not exceeding $6 million
to $20 million, depending on the industry
- Wholesale businesses with employees
up to 100 regardless of sales volume
- Manufacturers with employees
up to 500 depending on the industry, regardless
of sales volume
SBA 7(A) Loan
Size $150,000 to $2.0 million
Loan Fees
- Loan packaging fee: $750 to
$2,000
- Fee is based on loan size, it
is collected at the time of loan submission; refunded
if declined by credit
- SBA guaranty fee: 1.70% to 2.60%
of the loan amount
- Fee can be financed in the loan
Use of Proceeds
- Commercial real estate (purchases,
construction, or refinance)
- Leasehold improvements
- Business expansions
- Machinery, equipment, furniture
or fixtures
- Business acquisition
- Working capital (offered in
conjunction with some of the above)
- Start-ups (ALL Franchises, Motels,
Restaurants Gas Stations and C-Stores)
Other Credits
Considerations
- Business must have adequate
historic cash flow to cover the proposed debt
- Business debt to net worth must
meet industry averages
- Borrowers must be actively involved
in the day-to-day operation of the business
- Satisfactory personal credit
histories are required for all principles and guarantors
- No past bankruptcies or felony
arrests
Contact
us today about our SBA Loan Programs and other services.
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