Small Business Administration (SBA) Loans
In the Northeast, we can package loans for the Small Business Administration (SBA). Because we can see the “big picture” we can present clearly the comparison between SBA financing or commercial financing for your project. SBA Loans are only available to U.S. citizens or to Permanent Residents. They can be of particular value to younger businesses or those applicants who are buying an existing business. With the partial backing of the U.S. government, terms may be offered from 7 to 10 years as agreed to by the lending institutions. SBA loans for commercial mortgages can be offered up to 25 years. This funding may cover equipment, construction and real estate purchases. The majority of these loans are completed under the SBA 7A Program at variable rates that are tied to the Prime Interest Rate. At this time, those rates are very attractive.