There’s Always Hope
Don’t get disappointed or discouraged if the bank turned you down. Our experience shows that 90% of our loan approvals were prior SBA bank loan turn-downs!
SBA 504 and 7a Loans
When looking for ways to finance your small business, consider the opportunity of using a 504 or a 7a SBA Loan. The SBA 504 loan is designed to help you finance the purchase of commercial real estate property, construction and development of facilities, or acquiring new equipment. The SBA 7a loan helps you gain access to working capital to keep your business running when cash flow is limited for a period of time.
SBA 504 vs 7a Loan Comparison:
If you’re looking for a small business loan to purchase real estate or heavy machinery/equipment, the SBA 504 loan is the best choice.
If purchasing a business or getting working capital is the goal, then the SBA 7a loan is likely the better option.
More explicitly, in the SBA 504 loan proceeds can be used to purchase a building, finance ground-up construction or building improvements, or purchase heavy machinery equipment, while the 7a loan proceeds can be used for short-term or long-term working capital and to purchase an existing business, refinance existing business debt, or purchase furniture, fixtures and supplies.
SBA loan turned down by a bank? Don’t feel held back from achieving your potential business goals, aspirations and growth.
For qualifying companies, an SBA Loan can mean the difference between staying in business or having to limit yourself to small time opportunities. Cyeron understands the dynamics of SBA loan qualification, which can help your business prepare for what’s next, whatever that may mean for your business growth.
Not all SBA lenders are created equal… Cyeron Corporation works with clients who seek the unique benefits of an SBA Loan for their business growth, which include:
Lower Interest Rates
SBA Loans offer competitive interest rates, which can save you money in the long run, with terms ranging from 7 to 25 years. The qualifications for SBA Loans are typically linked to credit ratings and other supporting qualifications.
Attractive Repayment Terms
As stated above, having 7 to 25 years to repay an SBA Loan is considered extremely generous, compared to other business financing sources. The buffer of a longer term helps you remain flexible in your growth.
Quick Access to Capital
SBA Loans can guarantee up to 90% of the total loan, allowing you to borrow up to $5 million, depending on the type of loan and circumstances. This helps you mitigate the risk factor that traditional banks use to reject other loans.
Flexible Down Payments
Like in any other loan application, the business owner must show some responsibility towards the financing amount. However, with the range of 10-25% for down payments, growth is within your grasp when you use an SBA Loan.
SBAs Make the American Dream a Reality
When you get approved for an SBA Loan, you are joining a long list of businesses that have benefited from the Small Business Administration’s efforts to foster entrepreneurship and prosperity. This means you also get access to many other resources exclusive to SBA loan holders, which can further help you grow your business.
Let Cyeron Corporation find out if your business qualifies for an SBA 504 or an SBA 7A loan. Our knowledge of the dynamics for this type of loans can guide you to the opportunity to keep your business moving forward.
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