I think you'll agree it's utterly difficult to find low APR small business
loans that can be approved in a reasonably short amount of time. If
you’ve ever asked your bank for an SBA 7a Loan under $500,000
then you may be familiar with having to wait for an answer. An answer that may
not be coming because banks normally give preference to the large requests.
This is no longer an issue. This page explains how a small SBA 7a Loan can be approved. You can get pre-approved within 5 minutes and funded within 3 weeks after submitting your required documents.
SmartBiz Loans(R- registered trademark symbol) is the leading online
SBA loan marketplace that streamlines the application process for loans
between $30,000 and $350,000. PLEASE NOTE SMARTBIZ LOANS IS NOT A
"LENDER". The process only takes 7-10 days and the
rates are what you might expect from your personal bank. The advantage
of the SmartBiz SBA marketplace is it increases the likelihood of
approval because their technology platform matches you with the "right
SBA preferred lending bank" with the credit criteria that best fit your
particular business profile.
10 year terms mean low monthly payments! And since there are no prepayment penalties, you can pay off the loan at any time and save costs of interest.
$30,000 - $49,000 8.00%
$50,000 - $350,000 7.00%
Loans have a variable rate of Prime rate plus 2.75% to 3.75%
4% covers referral and packaging fees. Bank closing costs typically add about another $450 and include standard bank fees though additional 3rd party report charges may apply.
A 2.25% guarantee upfront fee will be assessed from your total requested amount of any amount $150,000 or over.
So figure an
additional 4% to the total sum you need or an additional 6.25% for any loan over amount over $150,000
* A soft pull does not impact your credit score. When your loan application proceeds to funding, SmartBiz Loans and its lenders request a hard pull on your credit, which appears as an inquiry on your credit report. This only happens after your application is in the funding process and matched with a lender who is highly likely to fund your loan.
How It Works / Working Capital
You can get started on your SBA 7a Loan with a 'soft pull' of your credit history then click on this link.
The below contact information is good between the hours of 8am through 9:30pm Eastern time Sunday -Thursday and 8am through 5pm Friday.
Yes, I enjoy speaking after hours with people when the other staff members have left. :)
After your soft credit pull, you will then get a response within 5 minutes,
And if you pass then you'll receive a conditional offer within 30 minutes during business hours, 8am - 5pm pacific time.
And that is it!!!
In a minimum of 7 days of a completed application, you could have your SBA 7A Loan approved at an excellent rate with perhaps the best interest rates available to small businesses.
Click back to Business Loans page.
Click back to Home page.
Funding Factoring Solutions makes recommendations for business funding, only offers to apply. Funding Factoring Solutions never makes guarantees that a recommendation, or offer to apply, will become an approval
And any fees cited in this process are always subject to change.