Fulfill Your Business Dreams with an SBA Loan
As an approved and preferred financial services company, the Small Business Administration (SBA) guarantees loans provided by Ascent Business Capital through the SBA program. This means, for qualifying businesses, we can offer superior loans and financing at affordable rates. Additionally, being an approved lender, the application and approval process is both quick and efficient.
Benefits of an SBA Loan
Whether you are looking to purchase, build, renovate or refinance, a small business loan will provide you the financing necessary to invest in properties as well as purchase essential equipment. This type of funding can be used in the purchase and acquisition of various kinds of property, such as:
- Car dealerships
- Gas stations
- Child care facilities
- Single-purpose buildings
- Nonconforming properties
in addition to the purchase of property, a loan can be used to finance essential equipment, such as:
- Medical equipment
- Manufacturing equipment
- Machining tools
- Specialty vehicles
- Diagnostic equipment
Loan Limits and Term Length
While we offer competitive rates and flexible terms, we provide a maximum loan limit of $5 million. These loans are provided with a maximum 25-year term with full amortization and financing of up to 90 percent. Depending on the loan program, whether 7A or 504, the rates can be either variable or fixed. The structure of the small business loan does vary slightly for existing business acquisition loans. These loans will carry a 15-year term limit with a maximum financing option of up to 80 percent. Both instances allow for no prepayment penalties and no balloon payment upon full amortization.
The process for prequalification can be completed in as little as 48 hours, while the approval process takes a little longer and is dependent on several factors, the least of which is the credit score. Primarily, the main contributing factors in the approval process are healthy cash flows and sustainable management practices.
If you are considering investing in a new business and are interested in the benefits and flexibility of an SBA loan, then call us. As an approved financial institution, Ascent Business Capital would be happy to help make your business dreams a reality.