Finding Your Best Small Business Loan Solutions

sba-loansHere at First Lighthouse Capital, LLC, we strive to offer the best possible credit packages to all potential business customers, because we are dedicated to helping companies receive the capital they need to succeed. Part of that mission means working to achieve a preferred lender status with the Small Business Administration. This allows us to offer loans in line with the program’s standards, but to streamline the approval and disbursal process for our clients.

SBA Program Terms

There are quite a few specialty programs with unique criteria offered by the Small Business Administration, but generally, the following criteria are followed for companies in common sectors:

  • Retail businesses with less than $6 million in annual sales
  • Manufacturing businesses with less than 500 employees
  • Service businesses with less than 100 employees

Depending on the use for the funds, loan terms may be for 7 years (working capital), 15 (equipment or new business acquisition), or 25 years (real estate purchasing). 504 and 7a specialty programs also exist to assist with real estate purchases, rehabilitations, and renovations. Under these programs, rates are competitive with the market and loans can be approved for up to $5 million.

Building the Foundation for Better Businesses

The Small Business Administration’s loan program is designed to give you the best possible rates and terms to set your company up for success. That means that loans have a few standard features, and they are designed to help companies grow:

  • Fully amortized loans
  • No pre-payment penalties
  • Zero cost pre-qualification letters
  • Up to 90% LTV on real estate, 80% on other assets
  • Suitable for most service, manufacturing, or retail businesses

These small business loan options are designed to help you turn over a new leaf with your company. Whether you are acquiring property, expanding, renovating, or buying in to a new opportunity, these packages are designed to give you the advantage you need. Contact a representative at First Lighthouse Capital, LLC today for more information.