AdvisorLoans is now offering SBA 7(a) Express Lending.
Loans from $30,000 to $350,000 in about 3 weeks.
Working Capital and Debt Refinance:
- Working Capital. Hiring, payroll, finance receivables, legal fees, marketing, upgrade office, new equipment, business expansion.
- Debt Refinance. Pay off merchant lender loans and business credit cards and smaller debts. Pay off seller notes that have been active longer than 2 years.
Express loans can’t be used for acquisitions specifically but can be used for capital to support small or partial book acquisitions with working capital for marketing, legal fees, upgrades, events, and human capital costs in targeting the new clients.
The process is easy, just call us to prequalify. The application process is done online and is easy to complete. Full application process including uploading tax returns and filling out information takes about 20 minutes. We can get conditional approval same day and funding as fast as 7 days.
10-year term with no prepayment penalty
- $30K to $49K = WSP + 3.75%
- $50K to $350K = WSP + 2.75%
- 4% Packaging and closing costs. All closing costs wrapped into this fee.
- SBA requires loans above $150K pay them a 2.25% SBA guarantee fee.
- Fees can be rolled into loan.
A personal guarantee is required. A blanket lien is placed on business but this loan does is not required to be in first position. If you get an Express Loan you can still get a larger SBA loan in the future.
Doesn’t require a lien on your house.
- 2 years in business
- 1.15 Debt Service Coverage Ratio
- 650 FICO score or higher
- No bankruptcy or foreclosures last 3 years
- No recent 30+ day late payments
- No felonies, existing tax liens, or judgments
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