Requirements
How SBA Biz Cap Works
- Minimum Requirements
- Eligibility: Must meet SBA size and industry standards.
- Use of Funds: For debt refinancing or working capital.
- Location: Business must be based in the U.S.
- Majority ownership by U.S. citizens or legal permanent residents.
Initial Inquiry
Submit basic business information to determine eligibility.
Documentation Submission
Completed application with debt schedule
Credit Review
Undergo a credit and financial assessment.
Approval and Funding
Receive approval and funding typically within 10 days from
complete application.
How We Help
SBA Biz Cap Real customers Reviews
FAQs
Question Answers
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It is an exclusive program because no one else has this. We have managed to streamline the process in many ways. The average SBA loan nationally takes 93 days to close. We average 10-15 business days. We have also reduced the required documents for submission
Yes, SBA loans can be paid off at any time without incurring a penalty.
The loan amount up to $ 500,000, is based on your Experian credit score, and your last 2 years average gross annual revenue times 35%. A 660 score allows up to $ 250,000 and a 700+ score up to $ 500,000.
No, whereas basically all other regular SBA loans do require collateral. It is the only loan like this offering a 10 year term, and loan amount which is "unsecured".
That is really based on the client. If the client is responsive in sending in the required documents initially and if anymore during underwriting are required and sent in quickly, then the loan should close within 10-15 business days. Generally, after 48 hours the client usually receives a pre-approved amount.
Right now, we require the business tax returns for 2022 & 2023, and the personal return for 2023.
No, this is categorized as a ?working capital? loan and can be used for anything.
No problem, this loan can refinance those high interest, short-term advances, and provide a significant improvement to the cash flow of the business.
The SBA requires any partner with 20% or more ownership to be included in the credit and background check as well.
Absolutely. The EIDL is not a standard loan, but one for catastrophic events. There are no limits to the amount of SBA loans a business can have at the same time, as long as the total debt does not exceed $ 5 million.
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