Business Acquisition Loan
SBA 7(a)

Starting a new business in the U.S. often makes obtaining a loan difficult. However, acquiring an established business is more feasible due to federal SBA guarantees, which reduce the risk for banks. Recently, SBA Preferred Lender banks have expedited the loan process. We partner with several banks and lenders to offer business acquisition loans without additional broker fees. To proceed, you’ll need the last two or three years of tax reports for the business you plan to acquire. Please review the conditions below.

Various Business Acquisitions:

  • Restaurants
  • Nail Salons
  • Dry Cleaners(with or without a property)
  •  Retail
  •  Manufacturer
  • Other various businesses

SBA 7(a) Business Acquisition Loan Qulaifications:

  • Loan Amount: $150,000 to $5,000,000
  • Can acquire business alone or business + property
  • Down Payment: 10%-15%, may need more depending on circumstances, must be in bank statement 4-6 months prior
  • Repayment Period: 10 years for business, 25 years for property
  • Interest Rate: Prime + 1% to 6%
  • Loan Processing Time: 1 to 2 months
  • No additional broker fees
  • Required Documents: last 3 years of business tax returns, last 3 years of buyer’s personal tax returns
  • Buyer’s credit score above 700
  • permanent residency or citizenship required

*What is the Prime Rate?

 

 

The prime rate is the base interest rate that banks in the United States use when lending to the most creditworthy businesses. It is typically set by major banks such as Wells Fargo, Chase, and Citi. These banks are influential in the financial market, and their prime rate impacts overall market interest rates. The U.S. prime rate significantly affects various financial products, including mortgages and business loans, serving as a benchmark interest rate.