SBA Loans
Small
Business Loan |
Nu River Capital
Start or expand your business with loans guaranteed by the Small Business Administration.
The U.S. Small Business Administration helps small businesses get funding by setting guidelines for loans and reducing lender risk. These SBA-backed loans make it easier for small businesses to get the funding they need.
The U.S. Small Business Administration helps small businesses get funding by setting guidelines for loans and reducing lender risk. These SBA-backed loans make it easier for small businesses to get the funding they need.
Like an
SBA Loan, these loan terms are typically ideal. See the minimum requirements & start the process below.
SBA Loan - Standard 7(a)
Max Loan Amount:
$5 Million
Max SBA Guarantee:
85% for loans up to $150,000 and 75% for loans greater than $150,000
Interest Rate:
Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum
Eligibility Decision:
By the SBA. Qualified lenders may be granted delegated authority (PLP) to make eligibility determinations without SBA review.
Revolving Lines of Credit:
Up to 10 years
SBA Turnaround Time:
5-10 business days
Forms:
SBA Form 1919 and SBA Form 1920 are required for every loan (other SBA Forms may be required)
Collateral:
Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan the lender may include trading assets (using 10% of current book value for the calculation), and must take available equity in the personal real estate (residential and investment) of the principals as collateral.
Credit Decision:
By the SBA. Qualified lenders may be granted delegated authority (PLP) to make credit decisions without SBA review.
SBA Loan - Small Loan 7(a)
Max Loan Amount:
$350,000
Max SBA Guarantee :
85% for loans up to $150,000 and 75% for loans greater than $150,000
Interest Rate:
Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum
Eligibility Decision:
By the SBA. Qualified lenders may be granted delegated authority (PLP) to make eligibility determinations without SBA review.
SBA Turnaround Time:
5-10 business days
Forms:
SBA Form 1919 and SBA Form 1920 are required for every loan (other SBA Forms may be required)
Collateral:
Lenders are not required to take collateral for loans up to $25,000. For loans over $25,000, up to and including $350,000, the lender must follow the collateral policies and procedures that it has established and implemented for its similarly-sized non-SBA-guaranteed commercial loans, but at a minimum the lender must take a first lien on assets financed with loan proceeds and lender must take a lien on all of the applicant’s fixed assets including real estate. Lender is not required to take a lien against applicant’s real estate when the equity is less than 25% of the fair market value. The lender may limit the lien taken against real estate to the loan amount.
Credit Decision:
By the SBA. Qualified lenders may be granted delegated authority (PLP) to make credit decisions without SBA review.
SBA Loan - Express
The SBA Express program features an accelerated turnaround time for SBA review. The SBA will respond to your application within 36 hours.
Max Loan Amount:
$500,000
Max SBA Guarantee:
50%
Interest Rate:
Lenders and borrowers can negotiate the interest rate, but it may not exceed the SBA maximum
Eligibility Decision:
Made by Lender
Revolving Lines of Credit:
Up to seven years with maturity extensions permitted at the outset
SBA Turnaround Time:
Within 36 hours
Forms:
Lender primarily uses own forms and procedures, plus SBA Form 1919
Collateral:
Lenders are not required to take collateral for loans up to $25,000. May use their existing collateral policy for loans over $25,000 up to $350,000.
Credit Decision:
Purchase:
Made by lender
Lender may request expedited SBA purchase on small loans or in situations where liquidation may be delayed
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Your transaction will be handled by professionals who care. We make sure you have a dedicated team working for you.
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Get the support you need to ensure that things runs smoothly. We’re here to answer any questions.
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