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SBA Loans
These loans are guaranteed by the Small Business Administration, which allows them to offer some of the lowest rates on the market. In addition, they provide borrowers with long repayment terms and the ability to borrow up to $5 million. The repayment period for these loans can range from 7 to 25 years, depending on how the funds will be used.
SBA loans are particularly beneficial for borrowers with strong credit who have been in operation for at least two years. However, it’s important to note that these loans require a lengthy application process and have more qualifications compared to other financing options.
Pros:
- SBA loans offer the lowest rates available.
- Borrowers can secure funding of up to $5 million.
- The repayment terms are longer, spanning from 7 to 25 years.
Cons:
- The application process for SBA loans is lengthy.
- SBA loans have more qualifications and requirements.
Best for:
- Expanding businesses or refinancing existing debt.
- Established businesses with a good credit history and the patience to wait for funding.
Navigating the SBA loan landscape can be challenging, but with First Option Funding LLC, you can conquer the complexities of securing an SBA loan. Call us now to get started!
Our 3-Step Process:
- Apply. Fill out our Quick Apply application.
- We Review Your Application: Our team will assess your goals and match you with tailored programs, providing an offer within 24 hours.
- Receive Funding: Choose the program that fits you best and receive funding within 48 hours.
Bank Said No? Don't Worry, We've Got You Covered!
Let First Option Funding LLC Work on Your Behalf to Secure Your Funding