Financing Options

SBA Micro Loan

This vehicle provides small, short-term loans to small business concerns and certain types of not-for-profit child care centers. The SBA makes funds available to specialty designated intermediary lenders with experience in lending as well as management and technical assistance. While the maximum loan amount is $50,000, the average microloan is about $13,000. Microloans can be used for purchasing a new business, working capital, inventory, supplies, furniture, fixtures, machinery or equipment. Business financials may be required for those looking for an amount over $25,000.
SBA 7(a) Loan The 7(a) is the most common SBA loan for both business start-ups and existing businesses. It’s a highly flexible loan that can be used for “any legitimate business purpose,” including business acquisition, working capital, machinery, equipment, furniture, fixtures and leasehold improvements. The SBA requires that a lender charge no more than prime plus a margin not to exceed 2.75%. The rate is typically based on the strength of the loan. Some lenders offer three- to five-year fixed rates that adjust after the initial fixed period. The typical 7(a) loan amount varies from $100K to $5 million. The 7(a) requires some type of collateral, and the borrower must have strong personal credit.
SBA 504 Loan For start-ups, 504 loans are less common than 7(a) loans, although the
Michael Funaro  386-847-4226 mike@therainmakersconsulting.com 
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requirements to qualify are similar. A key difference is that a 504 loan must include real estate or equipment. Those without real estate or equipment as part of their business will not qualify. Because these loans often involve real estate, the down payment is typically 10% less than a 7(a) loan. The lending bank takes a first mortgage of 50%, and the SBA guarantees the remaining 40%. Most 504 projects range from $500k to $5 million.

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Corporate Finance Consulting

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My clients are my number one priority, and I’ll go the extra mile to make sure they’re completely satisfied with my work. Have a specific project that requires professional attention? My services are designed to tackle even the most complex projects. Contact me today to discover how I can help.

Marketing Strategy Advising

A Comprehensive Approach

This specific service is designed to analyze, confront, and solve your business needs. I provide customized solutions to all of my clients, and am an extremely results-oriented professional. I will work with you throughout the entire decision-making process and guarantee success. Contact me to find out how I can help today.

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