Obtaining financing for your small business can indeed be a challenging endeavor. Many banks and traditional lenders tend to be more interested in working with businesses that don’t currently require financial assistance. The Small Business Administration (SBA) recognizes this challenge and collaborates with lenders like Trade Trust Capital to provide highly affordable loans, offering a valuable avenue for securing the financing your business needs to prosper.
Through the 504 and 7a SBA loan programs, your small business can access financing of up to $5 million to address various business requirements. These loans typically come with up to 90% financing and offer terms that extend up to 25 years. Importantly, they feature no penalties for early repayment and do not entail balloon payments. Moreover, you have the flexibility to choose between variable and fixed interest rates, depending on your program selection.
If you’re interested in purchasing, renovating, or refinancing owner-occupied real estate, an SBA loan could be the ideal solution. These loans can be applied to various property types, including but not limited to:
Another common use of SBA loans is to finance equipment acquisitions. You can leverage SBA financing for a wide range of equipment types, including:
Alternatively, you may seek a small business loan for the acquisition of another business. Like other SBA loans, these loans feature competitive rates and favorable terms, often available with up to 15-year repayment periods and 80% financing. Approval decisions primarily consider the cash flow and management of the business. Importantly, there are no penalties for early repayment and no balloon payments.
To explore the possibilities offered by SBA loans, don’t hesitate to contact Trade Trust Capital today. We can provide you with valuable insights through a free consultation, helping you navigate the financing options that could be ideal for your business’s unique needs and aspirations.