Small Business Loan

SBA Loans: A Smart Resource for Small Business Owners

If you have or plan to start your own company, it may be worth your while to determine whether you qualify for small business loan. The Small Business Administration guarantees loans for a variety of businesses, allowing financial institutions like BMG Tax Experts to secure affordable financing.

Using SBA Loans

Our team at BMG Tax Experts enjoys being able to partner with entrepreneurs from numerous industries. Whether you are investing in an industrial property or a street-side shop, we have you covered. Consider several different types of businesses that you can build using your SBA loan:

  • Auto repair shops
  • Motels and hotels
  • Child care centers
  • Health care offices
  • Gas stations

Your company may be able to use these funds to cover many different expenses:

  • Construction
  • Renovation
  • Refinancing
  • Purchase of equipment
  • Purchase of real estate

Equipment Financing

Many businesses may especially benefit from putting these funds toward necessary equipment. Does your company require printing, manufacturing or diagnostic gear to provide your products and services? Equipment financing can be used to purchase all these items and more.

Loan Details

We offer two main types of SBA loans. First, if you plan to acquire an established company, you may qualify for an existing business acquisition loan. This option comes along with multiple advantages:

  • No prepayment penalties
  • Terms of 15 years
  • Full amortization
  • Speedy prequalification based on business management and cash flow

When you are not taking over another company, our 7a and 504 loans may be a good fit for you. These allow you to borrow as much as $5 million to be repaid over 25 years at either a fixed or variable interest rate. You can even fund 90% of your project’s expenses. Like existing business acquisition loans, 7a and 504 loans feature full amortization and no prepayment penalties.

Do you want to learn more about small business loans and how they may boost your professional endeavors? Reach out to BMG Tax Experts today to get more information and start your application.