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Small Business Administration Loans:
Beacon offers loans to help established businesses grow and expand. Because the Small Business Administration (SBA) provides government guarantees, it's easier for Beacon to offer financing to rapidly growing businesses. SBA loans help qualifying businesses buy or expand a business, purchase real estate, equipment and more.
If you have a growing business, SBA financing can help you to:
- Purchase fixed assets. Includes assets such as heavy machinery or specialized equipment
- Borrow working capital. Manage day-to-day cash flow and purchases.
SBA loans often offer important advantages over traditional business loans:
- Lower down payment requirements. Higher loan-to-value ratios allowed by SBA loans make qualifying easier. You can borrow up to 90% of your business financing needs, preserving working capital.
- Longer repayment terms. SBA repayment periods are longer than those of conventional bank loans. This makes your monthly loan payment more affordable, helping to improve your cash flow. Terms for:
- Working capital: 5-7 years
- Equipment: up to 10 years
- Projected income consideration. For SBA loan qualification, projected income of a business (not just historical cash flows) is considered. This may be particularly advantageous if your business is growing.
- Fixed or variable rates.
- Unable to secure conventional credit under reasonable terms.
- No balloon payment. SBA Express loans are fully amortized, with no balloon payments at the end of the loan. This eliminates the need to apply for a new loan and incur new fees at the end of the loan term.
To qualify for an SBA loan, your business must be:
- Owner Operated.
- For Profit.
- Organized as a sole-proprietorship, corporation or professional partnership.
- Unable to secure conventional credit under reasonable terms
- Conform to SBA guidelines for small business size
to Apply today
We would be happy to answer questions about the loan application process. Give us a call at 1-888-256-3800 or email us today
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The above material is for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any product or service referred to herein. All decisions to extend credit or make investments are subject to Beacon Federal's credit and investment approval process. Beacon Federal is not offering tax or accounting advice. Be sure to consult with your tax or accounting advisor.
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