SBA Loans
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About our SBA Loans
Term loans are typically between one and ten years, but permanent financing terms can be 30 years or more. In many cases, a permanent real estate loan is more beneficial for the company as it offers lower monthly payments, and it’s easier to refinance later on. Another advantage of permanent financing is the interest rate, which is often more favorable for the borrower.
Although real estate loans can make purchasing property easier, companies have to meet specific criteria to qualify. It’s common for lenders to require at least two years under the same ownership and a minimum annual revenue of $50,000. In most situations, a lender requires a down payment of 25-30 percent and a strong credit history. New businesses rarely qualify for permanent financing.
Depending on the business, loan amounts can be upwards of $5 million. The funds can be used not only for property acquisitions, but renovations, upgrades, or refinancing too.