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Lendinero SBA Loan Services: SBA Loans & Small Business Loans

How do SBA loans connect small business owners with Lenders?

Finally, a leading online marketplace that will match you with the best business loan for your company. Now, we are offering an SBA Loan Service solution for your small business.  After all, SBA loans connect small businesses with lenders. The SBA does not issue loans. Another key point, is that SBA loans are loans that are guaranteed in part by the U.S. Small Business Administration and typically made by a bank.   Indeed, we have a better option known as sba interim financing.

Why should I apply for an SBA loan or SBA Interim Financing?

Explicitly, SBA loans offer longer terms, great rates, and lower monthly payments than other loan options.  Also, lenders who are approved with the SBA can offer you the lowest interest rate. Furthermore, SBA loans provide an affordable monthly payment.

What types of SBA loans does Lendinero facilitate?

In short, we facilitate SBA 7(a) loans for working capital and debt consolidation as well as SBA 7(a) loans for commercial real estate purchases or refinance. Since SBA loans connect small business owners with lenders, we do the same. We do it all online.  You can apply onlinewith us.  At the same time, if you don’t qualify; we can provide you with an interim financing solution.

What are the basic requirements for an SBA loan?

SBA loans connect small business owners with the right lender. 

In the first place, businesses that qualify for a Lendinero SBA loan must generate $240,000 to $5 million in annual revenue.   In truth, SBA loans connect small businesses with lenders and Lendinero will help you find the appropriate lender for you.

In this case, you must demonstrate that your small business can afford to make the SBA small business monthly loan payments.

In view of, working capital or debt Consolidation Loans range from $30,000 to $350,000

  • Minimum 2 years in business
  • U.S. based business owned by US citizen or Lawful Permanent Resident who is at least 21 years old
  • Good personal credit score of 600 or higher
  • No outstanding tax liens with the IRS
  • No bankruptcies & foreclosures in the past 3 years
  • No recent charge-offs or settlements
  • Current on government-related loans

To point out, Commercial Real Estate Loans can range from $350,000 to $5,000,000

  • The real estate must be majority owner-occupied. This means that at least 51% of the square footage of the property you’re buying must be occupied by and used by your business.
  • Time in Business: 3+ Years  (if you have been in business for less than 3 years; we have other options for you).
  • Business owners must have personal credit scores above 675
  • Cash Flow: Sufficient business cash flow to service all debt payments demonstrated by 3 years of tax returns and interim financial data (profit to loss and balance sheet)
  • SBA Specific Requirements: No delinquencies and/or default on government loans

Do I need to personally guarantee the loan?

All business owners who own 20% or more of the business must provide a personal guarantee. Married couples who collectively own 20% or more of the business when their shares are combined, must both provide a personal guarantee.  Please have ownership records ready.  If you have owned the business for less than 1 year but the business has been operating for 5 years will be evaluated on a case by case basis.

Pre-Qualification

Before You Apply; You Need to Prequalify?

In the final analysis, The Debt Service Coverage Ratio (DSCR) is a financial ratio used by SBA lenders to determine if you can afford a loan. This is calculated by dividing your business’ annual operating income by the proposed loan annual payments.

Complying with financial ratios

So long as you can comply with this requirement, SBA loans prefer borrowers with a DSCR over 1.25.  For example, your business can generate $2,000,000 per year and be net $20,000.  Despite, your gross earnings the net earnings is what’s utilized. Why? Seeing that, an SBA loan has a monthly payment loan and your business must be positive and have sufficient cash left over every month to pay the monthly payment.  Since its a long-term loan you must demonstrate that during the last 2 to 3 years you have been able to manage cash flow on a positive basis.

SBA loans connect small businesses with the right lenders if you have the following documents.

  • Last 3 Years of Tax Returns (business and personal)
  • Year-to-Date Profit and Loss (P&L) Statement
  • Year-to-Date Profit Balance Sheet
  • Business Plan and 3 Years of Financial Projections
  • Business Certificate/License
  • Owner Résumé •Business Lease
  • Personal Asset and Liabilities List

What will my interest rate be?
Interest rates are variable and depend on the loan amount:

Working Capital and Debt Consolidation / Refinance
6.75% (Prime Rate plus 2.75%) for loans $50,000 – $350,000 7.75% (Prime Rate plus 3.75%) for loans $30,000- $49,000

Commercial Real Estate Loans
5.50% to 6.75% (Prime Rate plus 1.50% to 2.75%) for loans $350,000 – $5 Million

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