SBA Loans
Coastal Kapital is your one-stop-shop for easy and painless business financing needs
Get The Funding Your Business Needs
SBA Loans
Small Business Administration (SBA) loans
While the funding process is often slower when working with government agencies, SBA loans offer several attractive benefits:
- Generous loan limits
- Longer repayment period
- Looser qualifications in terms of credit score and assets
- Interest rates linked to the US Treasury, which are often lower than other loan rates
General Eligibility
REQUIREMENTS
- Two years in business
- For-profit business
- Proceeds: working capital, dept refinance, new equipment purchase, business and real estate acquisition
- Individuals owning 20% or more of business cannot work for SBA or have criminal background
- Individuals owning 20% or more of business must be US citizen or legal permanent resident
Credit Requirements
for all individuals owning 20% or more of business
REQUIREMENTS
Good Personal Credit
- Loans $30K-$150K: minimum personal FICO of 600
- Loans over $150K: minimum personal FICO of 675
Business Credit Score (LiquidCredit)
- 150 or greater
Public Records for Business Owners
- No bankruptcy in past 3 years
- No foreclosure in past 3 years
- No open tax liens
Business Cash Flow
use most recent business tax return and up-to-date business debt schedule
REQUIREMENTS
REQUIREMENTS
Ratio of Business Cash Flow to Debt Payments: Should be at least 1.00 (min. is 1.15 for loans > $150K)
proud partners with
Proud Partners With
Previous
Next