BUSINESS ACQUISITION FINANCING

Purpose of Loan

• Business acquisition

Size of Loan

• Up to $1.33 million

Cash Injection Requirements

• As little as 20 to 25%, depending on seller carrybacks, collateral pledged and other credit factors

Terms of Loan

• Up to 25 years fully amortized, at competitive rates, for real estate purchase

• Up to 10 years fully amortized, at competitive rates, for non real estate transactions

Loan Fees

• Standard SBA Guaranty Fees

Qualifying Requirements

• 3 years management experience or 1 year direct experience or previously owned profitable business

• Adequate historical cash flow to repay the loan

• Acceptable credit history

Loan Turnaround Times

• 10 business days for Bank approval upon receipt of complete package.

• 45-60 days funding from receipt of completed application package
   

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