An SBA Loan Can Help Your Business Thrive
Businesses need money to thrive and grow. If your startup is struggling with cash flow and you’re looking for an extra source of working capital, you may want to consider a small business loan from Alternative Capital Source. We have a variety of loan programs designed to give you the best benefit for the least amount of effort. We know your time is valuable, which is why we strive to make the application process as easy to get through as possible. We’re a preferred financial services company Small Business Administration approval, which helps us process and approve SBA loans very rapidly.
SBA 7(a) and 504 Programs
We utilize technology and pre-screening-underwriting practices to ensure our clients the quickest processing and funding available through direct, preferred lending. We can structure loan terms and repayment to fit your business cycle.
The SBA does have certain exceptions—please look over the following for basic requirements:
$5 million Loan Maximum for:
- Owner Occupied Real Estate projects (at least 51% owner utilized), including…
• “Cash-Out” up to 20% of the approved loan amount*
• Long Term, up to 25 years
- Equipment; up to 10+ year term
- Working Capital; up to 10 year term
- Business Acquisitions;
This is a non-comprehensive list of general documentation needed as a part of an SBA loan package submission:
- Experienced Ownership/Management
- Resume Summary**
- Cash (& other acceptable) Contribution from the Borrower of 20% to 30%
- Business Plan (1-2 Years):
- Market Conditions
- Sales Demand
- Your Strengths/Niche
- 2 to 3 Years (most recent) of complete financial statements
- Income Statement
- Balance Sheet
- Statement of Cash Flows
- Debt Schedule**
- Detailed Project Costs
- 1 to 3 Year Financial Projections (after operations commence) **
- Detailed Assumptions to support projections
- Discussion how these projections compare to industry
- For Owners with 20%+ Ownership in the Borrower
- Recent Personal Financial Statement**
- Recent Personal Tax Returns
* Certain other conditions may be required.
** We have forms for this and all required SBA documentation
Our equipment financing program is one of our more popular small business loan products. We have the capacity to finance many different types of equipment, including large machinery and manufacturing equipment. If you need help affording equipment that your business needs, ask us about our equipment financing program.
Real Estate Financing
Another common use for SBA loans is to finance real estate properties. With help from our financing program, you’ll have an improved ability to acquire, renovate or build on real estate property. We’ll extend funding to practically any property that applies, including:
- Single-purpose buildings
- Hotels and/or motels
- Gas stations
- Nonconforming properties
- Car repair shops
- Child care facilities
- Car washes
- Veterinary practices
We also offer large loan programs with funding up to $5,000,000. We offer loan interest rates with all our loan products.
We intentionally make it easy for small businesses to qualify for our SBA loans. We’ll analyze your business cash flow and take a look at how well your finances are managed. Within just 48 hours, you can prequalify for any of our loan products.
Are you ready to talk to us about your small business loan needs and get matched up with a financial product that’s the best fit? Contact Alternative Capital Source today and we’ll provide you with a thorough consultation.