Is an SBA Loan Right For Your Business?
As a startup, it can be hard to find financing for your business. Most banks and credit unions only loan to companies that have been in business for several years and are led by experienced proprietors. If your company is new or you are new to your field, you may not be able to raise capital with the traditional methods. A small business loan from 5 Star Funding Group can help your business soar.
What Are the SBA Loan Terms?
The terms for our SBA loans are generous. One loan can have financing of up to 80% and most terms are for 15 years. If you prepay, there are zero penalties. Also, prequalification can occur in just 48 hours from the time you submit your application. We examine a few different criteria when choosing which SBA loan applications to approve, but your business’s cash flow is the main factor.
We offer loan amounts of up to $5 million at competitive rates. We carry both variable and fixed rates with the 504 and 7a programs.
What Types of Businesses Qualify?
At 5 Star Funding Group, we work with a wide range of businesses. They use our financing to renovate, refinance, and build their companies. They include hotels, motels, child care facilities, car repair shops, car dealerships, gas stations, car washes, single-purpose properties, and veterinary offices. If you’re not sure if your business qualifies, don’t hesitate to contact us.
We also approve loans for equipment financing. Examples of machinery covered include binding and printing machines, diagnostic technology, heavy equipment, dry cleaning and laundry equipment, machine tools, manufacturing equipment, trucking equipment, and medical devices.
Don’t let your previous loan rejections keep you from investing in your business. Call 5 Star Funding Group today and find out if you qualify for a small business loan. We want to help you dream big and reach your goals.