SBA Business Loans
One of the challenges that many small businesses face is getting financing. New companies can struggle to get approved for a traditional loan due to a lack of credit or sales history. Fortunately, there is a better alternative.
At 1st Choice Funding, we can help you secure Small Business Administration (SBA) backed loans. This government entity is designed to guarantee protections for lenders, meaning that they will be more likely to approve your business. With an SBA-backed loan, you get lower interest rates and open up more flexibility in how you fund your operations, which can help you expand and move forward.
If you’re interested in securing SBA funding, give us a call. We can help you navigate the approval process and find the best loan for your needs.
SBA Real Estate Loan/Owner-Occupied Commercial Real Estate
Are you paying rent for your office, warehouse or retail space? If so, you might want to consider buying your own commercial property. Real estate ownership comes with many tangible benefits, including the ability to build equity and avoid rental increases.
The SBA helps companies of all sizes purchase property to lower expenses, maintain or expand operations and to gain equity. Even better, you can use the loan for an additional revenue stream. As long as you utilize at least 51-percent of a building’s usable space, you can rent out the remaining units. This way, you can earn passive income for your business and lower your mortgage payment accordingly. Also, as you grow and expand your business, you can move into empty units without having to buy a whole new property.
SBA Equipment Loan
If you need high-performance equipment for your business operations, you may be wondering how to purchase without first taking on a number of new clientelle. Unfortunately, a traditional loan is usually not suitable for this kind of financing, as it will lock you into high interest rates and a cumbersome repayment plan.
A better solution is to secure an SBA equipment loan instead. These loans will leverage the value of the equipment as collateral, meaning that you need less capital up front. Also, because the SBA will finance up to 100-percent of the equipment, you can often get approved for loans as high as $5 million. Call us to find out more about how to qualify for this kind of financing.
SBA Equipment Loan
If you need high-performance equipment for your business operations, you may be wondering how to purchase without first taking on a number of new clientelle. Unfortunately, a traditional loan is usually not suitable for this kind of financing, as it will lock you into high interest rates and a cumbersome repayment plan.
A better solution is to secure an SBA equipment loan instead. These loans will leverage the value of the equipment as collateral, meaning that you need less capital up front. Also, because the SBA will finance up to 100-percent of the equipment, you can often get approved for loans as high as $5 million. Call us to find out more about how to qualify for this kind of financing.
SBA Inventory Loans
When operating a retail business, one of the primary challenges is managing inventory. Ideally, you can keep just enough stock on hand to satisfy customer demand without overstocking your shelves. However, when it’s time to purchase new inventory, you may find yourself in a financial bind.
SBA backed inventory loans can help alleviate this problem by leveraging future sales. As long as you show a strong sales history, SBA backed lenders can provide small businesses the financing to buy new inventory. This way, you can adapt to changing consumer demands without having to provide most of the upfront capital. Inventory loans allow you to manage your cash flow more efficiently so that you can streamline your profit margin.
SBA Business Acquisition Loan
As your company grows and thrives, you may be looking for a way to expand into new markets or offerings. One option for businesses on the upswing is to purchase an existing company. Takeovers can provide many benefits, including an increased market share, better brand awareness, and more infrastructure. In addition, some business minded individuals want run a business, but wish to buy in to an established franchise opportunity. Many franchises are eligible for purchase with SBA backed funds.
Many businesses may be acquired with SBA backed loans. With this kind of loan, you’ll need to show at least two years of sales and operational history. Also, you’ll have to illustrate how the acquisition will improve your market outlook. Because these loans can be relatively complicated, we’re here to help. Call us to find out more about acquisition financing and how you can get approved.
SBA Business Acquisition Loan
As your company grows and thrives, you may be looking for a way to expand into new markets or offerings. One option for businesses on the upswing is to purchase an existing company. Takeovers can provide many benefits, including an increased market share, better brand awareness, and more infrastructure. In addition, some business minded individuals want run a business, but wish to buy in to an established franchise opportunity. Many franchises are eligible for purchase with SBA backed funds.
Many businesses may be acquired with SBA backed loans. With this kind of loan, you’ll need to show at least two years of sales and operational history. Also, you’ll have to illustrate how the acquisition will improve your market outlook. Because these loans can be relatively complicated, we’re here to help. Call us to find out more about acquisition financing and how you can get approved.