Small business loan inquiry

Recent small business loan inquires…

$800K FedEx Route Acquisition Loan - Washington

$1.4M Liquor Store Loan - New York

$900K Dental Practice Loan - Georgia

$200K Auto Repair Loan - California

$400K UPS Store Acquisition Loan - Hawaii

$1.5M Construction Services Loan - Illinois

$4M Hotel Acquisition Loan - South Carolina

$650K Restaurant business expansion loan - Louisiana

Note: Only complete the form below if you are looking for a traditional loan. If you are looking for a forgivable PPP loan, see our nationwide PPP lending partner.

*** For new SBA loans, the SBA will make the first 6 monthly payments up to $9,000 per month for loans approved by September 30 (subject to funds availability). Discuss with you SBA banker and apply today!

How it works:

- Answer a few questions below
- We’ll match you with interested banks within 8 business hours
- You and interested banks contact each other

Benefits to you:

- No cost or obligation
- Save valuable time – connect today with interested banks who know your industry
- Historically low interest rates (currently around 6% for loans >$150,000)
- Longer repayment periods – 10 or 25 years
- No loan covenants

Requested loan amount (Min $50,000 / Max $5,000,000) *

Note: We are unable to assist borrowers looking for under $50,000 via our network at this time.

Name *

First

Last

Email *

WE ARE UNABLE TO ASSIST BORROWERS LOOKING FOR UNDER $300,000 AT THIS TIME. Please visit Smart Biz, which specializes in SBA loans under $300,000. Smart Biz has a convenient online portal that can tell you in minutes whether you pre-qualify for an SBA loan through their SBA banking network. Click here to connect with Smart Biz.

Name of your business *

City where business is located *

State where business is located *

Mobile number *

Use of Funds

Acquiring a business (requires 10% or more down from Buyer)
Buy Real Estate (Buyer must occupy 51% or more)
Buy Equipment
Refinance Debt
Buy Inventory
Working Capital

Note - SBA rules require real estate purchases to be at least 51% owner-occupied unless a hotel. Our network of SBA lenders are unable to provide SBA real estate loans if owner occupancy in under 51% (e.g., large office building purchase, apartments, vacation rentals, etc.) Hotel loans are fine, however.

Unfortunately, we are unable to assist you at this time. For acquisition loans, the minimum loan with our lending partners is $250,000.

Approximate $$$ value of real estate being purchased with loan proceeds? *

Note: If you are purchasing a business along with real estate, be sure to check "Acquiring a business" above in "Use of Funds."

Approximate $$$ of equipment being purchased with loan proceeds? *

Approximate $$$ of inventory being purchased with loan proceeds? *

Approximate $$$ of debt being refinanced with loan proceeds? *

Is the existing debt you are trying to refinance SBA debt? *

No, the current loan we are trying to refinance isn't an existing SBA loan
Yes, we want to obtain a new SBA loan to replace our existing SBA loan

What interest rate are you paying now? *

Will you consider variable as well as fixed rate loans? *

No, we will only consider a fixed rate loan
Yes, we will consider variable or fixed
No preference / not sure

SBA loans are not permitted to be refinanced by a new SBA loan with our lending partners. However, a borrower can leave an existing SBA loan in place an obtain a new SBA loan. For example, for a $500K new loan request and use of proceeds of $100K to refinance existing SBA debt and $400K for equipment, our lenders would leave the $100K existing SBA loan in place and issue a new SBA loan for $400K. If you are just looking to refinance SBA debt with SBA debt, we are unable to assist.

If refinancing to save on interest, note here are the recent Q1 average rates charged by SBA banks: Loans under $150K- 8.1%; $150K- $350K - 6.8%; over $350K- 6.3%

If you are currently paying under 6% for the debt you are looking to refinance, our SBA lender network will not be able to assist and we recommend looking elsewhere.

Acquisition purchase price for the business? *

Note: Maximum SBA banks will lend is 75% - 90% of purchase price.

Estimate of your personal liquidity % (i.e., cash, stocks, bonds, retirement savings divided by loan amount ) before this loan. *

10% or less (liquid assets / loan amount)
10% to 20%
Over 20%

We are unable to assist you at this time for your acquisition of a business as our lending partners will want to see ~ 20% personal liquidity (10% down for the business plus another 10% in personal reserves). If you have other investors/partners who could contribute to the down payment, that may help but based solely on your stated liquidity position coupled with the fact that you are acquiring a business we are not able to assist you currently.

Have you reviewed tax returns for past 3 years for the business you are buying? *

Yes, we have reviewed these tax returns and understand the profitability of the business
No, we do not have these tax returns but have requested them
No, still in early stages

On average for the past 2 years plus the estimate for this year was the net income per year (revenues - all expenses) for the acquisition business at least 15% or more of the requested loan amount? *

Yes, net income per year was >15% of the requested loan amount
No, net income per year was <15% of the requested loan amount

Profitability for past two years plus this year *

How much direct experience do you have in the industry of the business you are acquiring? *

No experience in the industry of the business I'm acquiring
< 1 year
1 - 2 years
2 - 4 years
5+ years

Do you have a signed agreement with the Seller (e.g., an LOI or APA) that specifies the deal terms? *

Yes, we have a signed Asset or Stock Purchase Agreement
Yes, we have a signed Letter of Intent
No, but we have verbally agreed on economic deal terms
No, still in early stages
I don't understand this question

Is the business generating monthly profits >1.5% of the requested loan amount (e.g, $100,000 loan = $1,500 or more in monthly profits) *

Yes, monthly profits are greater than 1.5% of the requested loan
No, our average profits are less than 1.5% of the requested loan
Don't know what our cash flow numbers are

How long has the business existed? (If an acquisition, how long has the target been in business) *

< 1 year
1 - 2 years
2 - 3 years
3 - 5 years
5+ years

At this time we are unable to refer businesses with less than one year of profitable operating experience to any lenders in our network (unless an acquisition with 3+ years of operating history).

Your credit score *

Any personal or business bankruptcies within the last 5 years for any owner of 20%+of the business? *

Any active lawsuits (including divorce), open judgements or outstanding tax or other liens for the business or 20%+ owners? *

Business description *

Business website

How many banks do you want to contact you *

1 bank for now (can always ask for more later)
2 banks
3 or more banks

** Note: On average an SBA loan will take a minimum of 30 days to close AFTER you have provided the bank with a "full file" - all the information that bank has requested. Some SBA loans may take 60+ days to close so plan accordingly.

User review of T&C and Privacy Policy *

I have reviewed, understand, and agree to the SBALenders.com Terms & Conditions and Privacy Policy. I agree that SBALenders.com may refer my information contained herein to potential lending partners, and those potential lenders may contact me using the contact information I have provided including email, phone and/or text numbers regarding my request for a loan. I understand that SBALenders.com's is not associated with the Small Business Administration or the U.S. government, and SBALenders.com will not charge me a fee for its services but may receive a referral fee from its lending partner(s).

Comment