SBA Loan Financing Program

Credit Standards:


-Must have good credit (650 FICO and above)


-Equity must come from non-borrowed funds (401k funds  are OK)


-Personal net worth must be near loan amount requested


-General management experience is needed


-Must have approved cash flow of personal living expense


-Some outside income may be required

SBA Program Highlight SBA Pre-Screen Application Standard SBA Application

Procedures / Time Table:


-Have candidate call our office for a review


-We will send follow-up email to Franchisor


-Candidate must complete an application, and return to  Franchise Finance Credit Dept.


-Once received, pre-approval will be issued within  within one (1) week


-Final funding generally is completed within 4 - 6 weeks

Step 1:Download Highlight letter. Step 2:Download SBA Pre-Screen Application, once you have filled that out and been pre-approved, you will be direct to Download Standard SBA Application

-Loan Amount:                        70-80% (Standard)                                                                           90% For Working Capital

                                                                                                                 

-Loan Term:                              7 - 10 years

                                                                                         


-Collateral:                                 None (on W/C Loan)


-Closing Cost:                           Est. 3 - 6% (can be financed)

                                                                                                                           


-Interest Rates:                         2 3/4% over Prime