LOAN SIZE

Minimum – $50,000 Maximum – $5 million

INTEREST RATE

Predominantly variable; certain fixed-rate alternatives

TERMS

• Up to 25 years – real estate
• Up to 10 years – business acquisition, equipment
• 5 to 7 years – working capital
• Weighted average for mixed-use requests

LTV Up to 90%DOWN PAYMENT

Minimum 10% borrower(often more) Up to 90%

ELIGIBLE BUSINESS SIZE

• Calculated by industry nature
• Yearly sales not to surpass range of $750,000 to $33.5 million for trade, service and cultivation
• Amount of staffs not to surpass range of 100 to 1,000 for wholesale and production

LOAN STRUCTURE

• Loan structure flexible; reliant on risk
• 10% down payment (least)

PROCEEDS USE

• Expand, acquire or start a business
• Purchase or construct real estate
• Refinance existing business debt
• Buy equipment
• Provide working capital
• Construct leasehold improvements
• Purchase inventory

PROGRAM REQUIREMENTS

• 51% proprietor occupancy for existing building
• 60% owner occupancy for fresh construction
• All resourcessponsored must be utilized to the direct profit of the business

COLLATERAL

• Subject propertiesobtained by loan earnings
• Pledge of own residence unless bank can validate why unnecessary
• Personal collaterals of the main owners of 20% or more ownership are obligatory

• Fees can be sponsored in the SBA 7(a) loan program
• Fees differ with the extent of loan paired with 504 loans
• Additional .25% claimed on any loan section above $1 million

CLOSING TIME

As soon as 45 days