Small Business Administration Financing SBA Loans
Business and SBA Loans - Where Real Estate Is Involved
It’s easy to apply for SBA small business loans online with us.
The SBA was created in 1953 officially, but its actual beginnings started much earlier in a number of other prior administrative divisions. This was in large part in reaction to the pressures of the Great Depression era and World War II. People needed help in getting enterprise started and funded. In the Small Business Act of July 30, 1953, Congress created the Small Business Administration commonly known as the SBA. It’s function was to aid, counsel, assist and protect, insofar as is possible, the interests of small commercial concerns. The charter also stipulated that they would ensure small businesses a “fair proportion” of government contracts and opportunity to participate in sales of surplus property. By 1954 the SBA originated business loans and guaranteeing bank financing to small operations, as well as funding to victims of natural disasters.
SBA branches out to increase loans, participation by women and minorities along new approaches such as the minority program and microloans. The SBA offers several small operators financing to assist their operations. It is important to note, however, that the SBA is primarily a guarantor of business loans made by private lenders and other lending institutions.
The Standard 7a Loan Guaranty Program
This program serves as the Small Business Administration’s primary approach to small business financing to help qualified small operations obtain financing when they might not be eligible through normal lending channels. It is also the agency�s most flexible program, since financing under this program can be guaranteed for a variety of general purposes. Proceeds can be used for most sound purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions). Terms can extend up to 10 years for working capital and generally up to 25 years for fixed assets.
The typical customer profile is start-up and existing small companies and offered through commercial lending institutions.
Certified Development Company (CDC), a 504 Program and Microloan, a 7(m) Programs are also available.
MFI specializes in arranging long term financing for a variety of commercial enterprises at low interest rates. These include real estate acquisition and refinance, acquisition and working capital. Our business loans are specially designed for borrowers with financing needs from $150,000 to $10,000,000 and more. MFI is a financial services brokerage company formed and managed by dedicated entrepreneurial businesspeople. We are committed to serving the financial capital needs of small companies, commercial entrepreneurs and investors.
To speak with a professional representative, just give us a call or complete our SBA business loan application online. We’ll get back with you right away. We’re always available to speak personally with you regarding your commercial lending needs. Many lenders will not make a commercial lending commitment unless real estate is the main component in the valuation of the enterprise. But what if you lease your space. How do you then get the financing your need? You come to us that’s how. We’ll arrange financing for your operation through a lender that does just that type of financing.