South Florida's SBA Loan Specialist
Customized Business Funding Solutions For Companies Nationwide
Alliance Business Solution is focused on building relationships with business owners and helping them navigate through the ever-changing landscape of the business world. We first seek to understand the client's needs, challenges, vision, and mission statement. After that, we seek to add value by presenting real solutions in a time and cost-effective manner that helps address those concerns and challenges business owners face and ultimately set them up for success. It all starts with a no-cost no-obligation consultation, seeing if we are a fit for each other then we move forward with an action plan that yields results.
SBA 7(a) vs 504: Which is Right for You?
Trying to decide what type of loan is best for your business can be confusing. With all the rules, guidelines and regulations, it’s easy to get overwhelmed. Alliance Business Solution walks you through your options so you can confidently choose the best loan program for your specific business needs.
SBA 7(a) Loan
The SBA 7(a) loan is the most popular type of SBA guaranteed loan. These offer flexibility on terms and business uses, so this is a good option for acquisitions, partner buyouts, real estate purchases, refinance and more.
Terms:
The maximum loan amount is $5 million.
Most 7(a) loans offer maximum 10-year repayment periods.
However, loans for equipment may extend to 25 years (or useful life)
Real estate loans may also have repayment periods of up to 25 years.
SBA 504 Loan
Available for existing businesses looking for longer term fixed asset financing. This program provides financing for long-term growth, expansion or modernization such as real estate purchases, property improvements and renovations, and heavy machinery and equipment.
Terms:
No Maximum project loan amount, the maximum SBA loan is $5 Million
Certain energy projects or small manufacturers may qualify for up to $5.5 Million
Loans repayment periods of 10 to 25 years