fbpx

Small Business Administration Loan

Keep your business afloat with a straightforward cash flow solution that a small business administration loan can provide. Achieve financial stability and long-term success.

  • Maximum loan amounts of $5,000 – $5,000,000
  • Interest rates begin at 7.75%
  • Loan terms last from 5-25 years
  • Get your approval within two weeks
Apply Now
SBA Loan Header Image

The 3-Step Process

Apply Icon

1. Application

Fill out our online form to begin your qualification process.

Review Icon

2. Assessment

A member of our team will review your application form carefully to find the best rate you can avail.

Money Icon

3. Approval

Receive your working capital loan within 1 day.

The Basics of Small Business Administration Loan

SBA loans are named as such because they are guaranteed and implemented by the Small Business Administration.

Because of multiple SBA funding programs, the Small Business Administration provides SBA loan guarantees that amount up to 85% of the loan amount. These are provided via an SBA-approved lender -- usually credited banks.

We, at Merchant ReFi, take pride in our diverse marketplace. We are all about helping all sorts of business owners fund their own business. We can help you find flexible funding in the form of secure SBA loans.

The Small Business Administration is a federal agency, and they are dedicated to helping entrepreneurs improve their small businesses. Plus, they also aid you in taking advantage of contracting opportunities and getting better access to other more traditional business loans. They use federal money to guarantee a percentage of loans doled out by traditional banks. And as a result, these banks have more incentive to lend money to small businesses.

An SBA loan has three main programs that allow you to borrow money for whatever the business purpose. This includes purchasing equipment or inventory, coming up with working capital, acquiring real estate, or even to refinance other business debts. What’s more? SBA lowers the risk for lenders, and that means more small business owners can get longer-term, lower rate financing that comes from the bank.

Guarantees brought by the SBA reassure bankers and they are more inclined to lend your business some money if you don’t necessarily fit into their strict credit criteria.

SBA loans are significantly a lot easier to qualify for, but you’ll still be working with a bank. Applying for an SBA loan will entail an extensive loan application process. There’ll be plenty of documents regarding your business that you have to provide.

Even with the aid of a government guarantee, the participating banks will still look for your financial statements, a description of your business, information about your collateral, etc. But most of all, applicants would be qualified if they can afford to repay the loan. One great factor for consideration here is your company’s borrowing history. It determines your SBA loan’s approval.

Your access to a small business administration can help your business achieve the sort of financial stability needed for long-term success. There are benefits you can have by through an SBA loan. And they include:

  • Additional capital:Additional capital: SBA loans have this choice as a viable option.
  • Consistent cash flow:Consistent cash flow: You can avoid “uneven” cash flows throughout the year.
  • Reasonable terms & conditions:Flexible terms & conditions: Enjoy the privilege of reasonable terms like lower down payments and interest rates.

The SBA loan program that you should apply for will depend on the size, age, and the goals of your business. Reevaluate your reasons for getting an SBA loan before deciding on the right SBA loan program for you.

Here are the three most popular programs among SBA loans:

  • The 7(a) Loan Program
  • The Microloan Program
  • The CDC/504 Loan Program

How Do I Qualify for a Small Business Administration Loan?

Small business administration loans aren't easy to acquire. Although SBA loans are easy to qualify for among small or new business owners, it's also one of the most tight ones. The most important factor of an SBA loan is your credit score.

In qualifying for an SBA loan, be prepared because it's going to require a lot of time, energy, patience, attention, and documentation. Don't believe other lending firms that offer approval within days. SBA loans take time. But that said, SBA loans are ideal for growing your business and refinancing other debts at lowest rates available.

Most of our loaners who received approval had:

  • Business annual revenue of over $180,000
  • Been in business for over four years
  • Credit scores of 680

How to Apply for a SBA Loan

You can apply for a small business administration loan in a more convenient and comfortable way with Merchant ReFi's easy application process.

Documents we require include:

  • Driver’s License
  • Voided Business Check
  • Bank Statements
  • Profit & Loss Statements
  • Business Tax Returns
  • Personal Tax Returns
  • Business Plan
  • Business Debt Schedule

Are you ready to start funding your business?

Apply Now
SBA Loan

How Much Will a Small Business Administration Loan Cost?

Small business administration loans are difficult to qualify for, but getting through can entail significant benefits for your business. An SBA loan can fund so much of your business' growth and your daily functioning.

So how much will a small business administration loan cost you?

The cost and the repayment of your Small Business Administration loan depend entirely on the type of program that you choose.

  • 7(a) SBA Loan Program:Guaranty fees of 1.7% for loans up to $150,000 & 2.25% for loans larger than $150,000. Interest rates at a maximum of 2.75%. Ten years of repayment for working capital and equipment loans.
  • CDC/504 SBA Loan Program: Loan fees at about 3% of the loan amount. Interest rates begin at 5-6%. And maturity terms of 10-20 years.
  • Microloan Program: There are no fees in microloans. The interest rates range from 8-13%. And the repayment term lasts up to 6 years with monthly repayments.

A small business administration loan is ideal for any business in need of reserve cash, and financial resources for carrying out big investments. However, an SBA loan does come at an even more meticulous application process. But getting through the initial application process is worth it.

It is, however, far-fetched to say that SBA loans are entirely good or always bad for small businesses. Keep in mind that every business is different and has diverse needs and situations, and therefore, it’s crucial to consider the advantages and disadvantages of how an SBA loan can affect your company before applying.

However, if you’re looking for straightforward cash flows and you can’t get it from traditional lenders, a Small Business Administration loan can be your feasible option.

What’s In It For You?

Your small or even medium-sized business has financial obligations. We recognize that and our SBA loans can help! You can use the cash from your SBA loan for anything related to your business -- such as paying off other loans, renovating headquarters, and more -- and you can get it as soon as you're approved. Processing business term loans with us is very easy -- convenient and stress-free, so you get what you need. Looking for a better way to access emergency cash? Welcome to Merchant ReFi.

On top of that, you also qualify to receive United MileagePlus® award miles. You'll receive your bonus miles 30 days after funding for $20,000 or more if your account is in good standing. Whether you’re taking a business trip or jetting off on a family trip is up to you — we’re just here to help make it possible.

Merchant ReFi

Not sure how to find working capital? Merchant ReFi is the answer. Get merchant finance as soon as you’re approved -- which is often the same day you apply -- and repay your merchant advance easily through small percentages taken out of your company’s credit card transactions or through a fixed ACH debited to your bank account. We’re business lenders who are here to help your business succeed, and you get United MileagePlus® award miles while you’re at it.

Airplane

Earn 10,000 United MileagePlus® bonus award miles with any qualifying Merchant ReFi advance

Learn More
United Mileage Plus Logo

Merchant ReFi is the only direct funder to offer bonus United MilagePlus award miles along with fast working capital.

Get an advance and earn 10,000 United MilagePlus bonus award miles.

Apply Now
Merchantrefi BBB Accreditation

The United MileagePlus miles earned by funding with Merchant ReFi can only be received by the persons signing the agreement for funding. The name of the recipient(s) must match the name of the persons signing for the agreement, and the miles may not be earned by any other persons within the respective organization. The miles will be earned by the recipient(s) one time for completing funding, and will be sent out within 6-8 weeks of funding. If there are any questions about this please contact Merchant ReFi support at 1-877-737-7334, and not United MileagePlus.

Top