Unsecured business credit line - sba loan

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SBA LOAN PROGRAMS:

SBA 7(a) Program

7(a) Loan Guaranty Program. This is SBA’s primary loan program. SBA guarantees up to 85 percent of bank loans up to $150,000 and up to 75% of loans up to $2 million. Loans are repayable in 5-10 years for working capital and up to 25 years for fixed assets. Rates are generally 2.25-2.75% over prime. Businesses must meet SBA’s underwriting criteria, including providing adequate collateral.

What Funds May be Used for:

Financing can be used for the purchase of owner-occupied commercial real estate including new construction, an existing building or modernizing a current facility. In addition, funds can be used to start-up a new business, expand existing operations, acquire an existing business or refinance outstanding debt. SBLS will include the purchase of inventory and equipment in your financing package. Eligible costs also include any costs related to the acquisition of a capital asset such as: architects, engineering, impact fees, installation, etc.

Eligible Businesses:

To be eligible, the business must be operated for profit and fall within the size standards set by the SBA. Eligible industries include, but are not limited to, Day Care Facilities, Office Warehouses, Office Condos, Medical, Dental and Professional, Small Office Buildings, Manufacturing, Car Washes, Funeral Homes, Restaurants, etc.

Real estate loans are intended for owner-occupied property. Proceeds cannot be used for businesses engaged in speculation or investment. Owner-occupied is defined as the business applicant occupying at least 51% of an existing facility or 60% of a newly constructed building.

Personal guarantees of all owners with 20% or more interest are required and full or limited guarantees of those owning less than 20% may be required.

SBA 504 Loan Program

SBA 504 Loan Program. This program provides growing companies with long-term, fixed-rate financing for major assets, such as land and buildings. These loans are typically secured by liens on the fixed assets being financed. Eligible businesses can receive financing up to $4,000,000 under this program.

What Funds May be Used For:

Financing can be used for fixed asset projects such as purchasing land and improvements, including new construction or existing buildings, modernizing or renovating existing facilities, or purchasing long-term machinery and equipment. The proceeds cannot be used for working capital, inventory, consolidating or repaying debt, or refinancing.

Loan Underwriting:

Provision Capital Corporation can usually provide a lending decision within 10 business days after receipt of a complete loan package. We will assist the applicant in properly completing the required documentation if needed. Our goal is to make the SBA lending process as simple as applying for a conventional bank loan. Our experienced team look forward to assisting you in meeting your business funding requirements.

The following documents will be required as part of the loan application process:

Complete Provision Capital Loan Application.
If buying or financing an existing business must provide tax returns for the past three years.
If buying a new or existing franchise business must provide a copy of franchise agreement.
Existing business should also provide a recent interim financial statement, no more than 60 days old.
Start-up projects should provide a detailed business plan, and financial projections. Projections should be month-by-month for the first two (2) years operations.
Personal tax returns for the past three years for all shareholders of 20% or more of the applicant business.

If you need more information on our SBA programs and requirements, please contact Rob Hall at: 1-877-545-3221 or email: rhall@provisioncapitalcorp.com.

www.provisioncapitalcorp.com - National provider of small business loans, sba loans, unsecured business credit line, commercial real estate loans. 48 hour approval. No Docs required. www.provisioncapitalcorp.com covers United States, New York, Los Angeles, Chicago, Philadelphia and Dallas : - Unsecured business credit line - Business loan '

www.provisioncapitalcorp.com - Provision Capital Corporation provides small to medium business sized business with commercial real estate loans, unsecured business credit without any requirement of collateral. We provide revolving interest only and fast 48 hour approvals for unsecured lines of credit. We also have no Docs programs and SBA 504 programs with fixed and variable rates for commercial loans