Growing Your Business with SBA Loans
7(a) and 504 Loans
-
SBA 7(a) Loans: These versatile loans can be used for a variety of purposes, including working capital, equipment purchases, debt refinancing, and more. Interest rates typically range from 7% to 9%, depending on various factors including creditworthiness and loan terms.
-
SBA 504 Loans: Ideal for long-term, fixed asset financing such as real estate or major equipment purchases. These loans offer below-market, fixed interest rates, often around 4% to 6%, with repayment terms of up to 25 years.
Qualifying for SBA Loans
To qualify for SBA loans, businesses typically need to meet certain criteria, including:
-
The business must be based in the United States and owned by a U.S. citizen or Lawful Permanent Resident who is at least 21 years old.
-
The business must have been in operation for a minimum of 2 years.
-
The business owner's personal credit score must exceed 650.
-
No outstanding tax liens should be associated with the business.
-
There should be no bankruptcies or foreclosures within the last 3 years.
-
The business must be current on all government-related loans.
DREAM IT.
PLAN IT.
FUND IT.
WHY SBA ?
What Sets SBA Loans Apart:
-
Accessible Financing: Say goodbye to financing hurdles! SBA loans provide accessible options for businesses of all sizes, making dreams a reality.
-
Favorable Terms: Enjoy flexible terms and competitive interest rates that put you in the driver's seat of your business's financial future.
-
Government Backing: With the backing of the U.S. Small Business Administration (SBA), these loans offer peace of mind and security for both borrowers and lenders.
Let's Get Started:
Ready to explore the possibilities with SBA loans? Our team at GRP Funding is here to guide you through the process, from application to funding. Whether you're a startup or a seasoned entrepreneur, we're committed to helping you achieve your business goals.
Contact us today to learn more about SBA 7(a) and 504 Loans, including current rates and eligibility requirements. Let's chart a course for your business's success together.
3 Easy Steps for Financing
1. Apply
Fill out a short application and select the option that best fits your business needs.
2. Get A Decision
Submit your final documents and e-sign your agreement, we’ll take it from there!
3. Receive Funds
Upon approval, we typically deposit funds as fast as the next business day.
Applying won’t impact your credit score, no cost to apply & multiple funding options with 1 simple application.
