SBA loans are loans from a bank or lending institution that the SBA guarantees the majority of the principal for. In times of need, they are popular among small businesses for several reasons. While these loans are backed by the SBA, they often have rates and fees similar to those of non-guaranteed loans. Lower down payments, flexible requirements related to overhead and no collateral (for some loans) can make all the difference for a small business seeking capital. Further, SBA lenders can have flexible eligibility requirements related to the size and health of the business.
MobyCap offers SBA loans to businesses that meet the minimum eligibility requirements. These stipulations include a FICO score of 680+, at least two years in business and a minimum of $1 million in annual revenue. Additionally, applicants must be for-profit with no outstanding federal tax liens to receive approval. Lending institutions sometimes make exceptions for businesses in special circumstances. Our team of experts helps clients gather the necessary documents while clarifying their eligibility. Though not every business qualifies for these loans, the ones that do can benefit significantly in the long run. As such, our team does everything in its power to secure the most useful solutions.
SBA Loan for Disaster Relief
The SBA’s Disaster Relief Loan was originally created to help small businesses rebuild after suffering damage resulting from natural disasters. Current stimulus initiatives are making the SBA Disaster Relief Loan available in all 50 states for the first time. As a result, this program is rolling out as a first-come, first-serve offering. In addition to the basic qualifying requirements, business owners must be prepared to deliver substantial accurate documentation. Simple mistakes can set businesses back weeks if not months in the approval process.
MobyCap and its affiliates have years of experience and have underwritten thousands of small businesses in the alternative finance space. Our professional underwriters will review your application and documentation prior to submitting to the SBA, giving you a tremendous advantage over those who submit flawed paperwork.
Click Apply Now to begin our secure online application. You can also Contact Us electronically for more information. If you wish to speak to a funding expert regarding an SBA loan or another solution, please call 737-577-1180.
*MobyCap is not investing in new/startup companies at this time. We typically require a business to be operational and generating revenue for at least 18 months to consider funding options.