Find Out About SBA Financing for Purchase, Refinance, and New Construction Projects Below
3 Ways a Business Can Use 100% Financing
EXPANDING TO A NEW LOCATION
The SBA 7(a) loan program is a valuable resource for small businesses looking to expand their operations by acquiring an existing property. In addition to covering the acquisition cost, the SBA 7(a) loan can also be used for various improvements, such as updating HVAC systems, enhancing accessibility, and modernizing technology infrastructure.
REFINANCING A PROPERTY
If you're considering refinancing your property, the SBA 7(a) loan program can offer significant advantages. By refinancing through this program, you may be able to secure a lower interest rate and better loan terms, ultimately reducing your monthly payments and improving your cash flow.
NEW CONSTRUCTION
The SBA 7(a) loan program is a fantastic option for entrepreneurs looking to construct a new building from the ground up. This loan covers a wide range of costs, including essential infrastructure such as elevators, escalators, and dumbwaiters.
REQUIREMENTS
✔ Must have been in business for at least 12 months
✔ Personal FICO score of 640+
✔ History of positive & stable cash flow
✔ The business must occupy at least 51% of the subject property
100% financing is also available for purchase of commercial property and an existing business, where the value of the property is at least 51% of the total loan.
