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Finding The Perfect SBA Loan

Has Never Been Easier...

What Are Economic Injury Disaster Loans?

The Small Business Administration's (SBA) disaster loans are the primary form of Federal assistance for the repair and rebuilding of non-farm, private sector disaster losses. The disaster loan program is the only form of SBA assistance not limited to small businesses.

The Economic Injury Disaster Loan Program (EIDL) can provide up to $2 million of financial assistance. To small businesses or private, non-profit organizations that suffer substantial economic injury as a result of COVID-19

An EIDL can help you meet necessary financial obligations that your business could have met had the disaster not occurred. It provides relief from economic injury caused directly by the disaster and permits you to maintain a reasonable working capital position during the period affected by the disaster.

Who is eligible for Economic Injury Disaster Loans?

Relief is available to all businesses affected by COVID-19
To be eligible for EIDL assistance, small businesses or private non-profit organizations must have sustained economic injury
and be located in a disaster declared county or contiguous county under the CARES Act.
Under the CARES Act the SBA is offering two types of assistance;
The Paycheck Protection Program (PPP) and an Economic Injury Disaster Loan (EIDL)

Apply For Your SBA PPP Loan Forgiveness!

If your business has received a Small Business Administration loan through the Paycheck Protection Program (PPP), you might be wondering how much of that loan may be forgivable by the federal government. Many factors determine loan forgiveness and the government is expected to issue additional guidance to determine how certain forgiveness provisions will be calculated.

How much of my PPP loan can be forgiven?

You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan.

Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. You will also owe money if you do not maintain your staff and payroll.
  • Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.
  • Re-Hiring: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.
  • Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.

Need Help Navigating The SBA PPP Forgiveness Process?

How do I request loan forgiveness?

We will help you prepare all the SBA's requested documents that verify the number of full-time equivalent employees and pay rates, as well as the payments on eligible mortgage, lease, and utility obligations.

The SBA requires you to certify that the documents are true and that you used the forgiveness amount to keep employees and make eligible mortgage interest, rent, and utility payments. The lender must make a decision on the forgiveness within 60 days.

We will help to guide you how to properly use the funds received through the PPP program and ensure that ALL or as much as possible will be forgiven.

Ready to get back to business, but your business didn't get
enough from the disaster relief fund?

We Are Here To Help ALL SBA Loans Explained Below!

SBA Loan Options Available To You

  • SBA 7(a) program — Provided by lending partners (large banks, small banks, community banks and credit unions) in which the lender provides funding, and the SBA agrees to cover the majority of the lender’s losses should the borrower fail to repay the loan. Uses for SBA 7(a) loans include: working capital; expansion; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
  • SBA Express — Provides loans up to $350,000 for no more than 7 years for term loans, and 3 year interest-only lines of credit that have an option to revolve. The SBA has a turnaround time of 36 hours for approval or denial of a completed SBA Express loan application. The uses of proceeds are the same as the SBA 7(a) standard loan program.
  • ​SBA Microloan — program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of SBA Microloan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

Other Types of Loans (non-SBA)

  • ​Bank loans – provide conventional business financing with rates that are similar to SBA 7(a) loans, that can be used for a variety of uses including purchases, working capital, equipment financing, refinancing and consolidating of debt, making payroll, paying bills and just about every other business use.
  • ​Mid prime loans – provide businesses with access to quick yet affordable financing. While the rates are a bit higher than SBA 7(a) loans, and the terms are shorter than standard SBA loans, the application and funding process can be completed in as little as a week, with much less paperwork and underwriting. Additionally, the credit requirements for mid prime business loans are lower than SBA loans, and no collateral is required.
  • ​Cash advances – Provides businesses in need of fast financing with the ability to receive funds in as few as 24 hours, if not the very same day they apply. Documentation requirements for cash advances are much fewer than all business financing options, with the business owner only needing to provide a signed application and bank statements to get an approval.

Application Process

One of our SBA consultants will assist you with all document collection and preparation, to ensure your application is as strong a file as possible before it is submitted. At that point, we will enter your loan request directly through the SBA online portal.

We, the Small Business Assistance Agency will help our clients in all the document preparation, and assist in the loan application, either on-line or through overnight mail.

Once a file is submitted to the SBA, an underwriter may request additional documentation if needed to underwrite the loan. It is important that we educate, assist and be hands-on in the process, to expedite an approval, which is expected to take approximately 3 weeks if all documents are in order.

Once an application (loan) is approved, the SBA will send final approval documents for signatures and your SBA loan will be funded within days.

Documents Required For SBA Loans

  • Business Loan Application — (SBA Form 5) completed and signed by business applicant.
  • IRS Form 4506-T — completed and signed by Applicant(s); each principal owning 20% or more of the applicant business, each general partner or managing member and, for any owner who has more than a 50% ownership in an affiliate business. (Affiliates include business parent, subsidiaries, and/or businesses with common ownership or management).
  • ​Business tax returns — Complete copies, including all schedules, of the most recent federal income tax returns for the applicant business; an explanation if not available.
  • ​Personal Financial Statement — (SBA Form 413) completed, signed and dated by the applicant (if a sole proprietorship), each principal owning 20% or more of the applicant business, each general partner or managing member.
  • ​Schedule of Liabilities — listing all fixed debts (SBA Form 2202 may be used).
Additional information that may be necessary to process your application:
  • Personal tax returns — Complete copies, including all schedules, of the most recent federal income tax returns for each principal owning 20% or more of the applicant business, each general partner or managing member, and each affiliate when any owner has more than a 50% ownership in the affiliate business. Affiliates include, but are not limited to; business parents, subsidiaries, and/or other businesses with common ownership or management.
  • Year-end Profit and loss statement — If the most recent federal income tax return has not been filed, a year-end profit and loss statement and balance sheet for that tax year will be required.
  • ​Current P&L — year-to-date profit and loss statement.
  • ​SBA form 1368 — providing monthly sales figures

Pre-Qualify Today

Business Acquisition loans from $350,000 to $5MM

Minimum $70,000 Cash Required to satisfy Down Payment and Post-Closing Liquidity. 

Business must be performing well during COVID-19. 

No Credit Check. No Broker Fees. No Origination Fees. No Bank Runaround!
The first thing your bank will do when you apply for an SBA loan is pull your credit report. This inquiry negatively impacts your credit score. We can pre-qualify you within hours and there will be no credit inquiries on your credit report.

Before going from bank to bank to bank, please get pre-qualified below:

 Benefits of an SBA 7(a) loan include:

  • Up to 90% financing on acquisitions
  • Up to 100% financing on partner buyouts
  • 10 year loan term, fully amortizing
  • ​5-year and 10-year fixed rate options available

THE CARES ACT - SBA 7a Loans to Buy a Business

Get Pre-Qualified for $350k to $5 Million!

Thanks to the CARES Act, the SBA is covering the first 6-months of principal and interest for SBA 7a loans with no repayment required for loans closed by September 27th. This can allow you to essentially buy a business with no money out of pocket! 

Learn how SBA Agency lending platform can help you quickly pre-qualify to take advantage of this historic SBA program for business acquisitions meeting the following criteria:
  • Buyers must have $70,000 minimum in available cash
  • Business must be operating & not distressed by COVID-19
  • Direct industry or strong management experience required
If you can meet the criteria, you can pre-qualify for an SBA 7a loan in less than 24-hours - with no credit check and no fees!*

Why Choose SBA Agency?

  • No Credit Check
  • No Bank Runaround
  • ​5x Success Rate of Direct-to-Bank
A pre-qualified SBA buyer will be taken more seriously and can confidently reach out to sellers and business brokers.

Pre-qualify with one of our SBA Experts today!
At SBA Agency we pride ourselves on
integrity, transparency and a stress-free application process.
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