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The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for:
The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. We will help you figure out which type of loan is best suited for your needs.
FinTech Capital Management helps you assemble your SBA loan application before it is sent to one of our preferred SBA banks for review and funding. Here is an overview of the basic steps involved in obtaining an SBA loan from a bank in our network.
Review the basic eligibility requirements and use of funds to apply for a $30,000 to $5 million SBA 7(a) loan from banks in our network:
Time in business must be above two years
The business owner's personal credit score must be above 640 / 675 (commercial real estate)
The business must be U.S. based and owned by a U.S. citizen or lawful permanent resident who is at least 21 years old
No outstanding tax liens
No bankruptcies or foreclosures in the past 3 years
No recent charge-offs or settlements
Up-to-Date on government-related loans
51% owner-occupied real estate for commercial real estate (CRE)
To be eligible for 7(a) loan assistance, businesses must:
Some businesses may not qualify for a 7(a) loan. Read more about Terms, conditions, and eligibility.
Contrary to what many people think, the Small Business Administration (SBA) does not typically make loans directly to small business borrowers. Instead, it guarantees up to 90% of these loans to the lending banks that make them in order to reduce the bank's risk in providing low-cost capital to small businesses. In turn, the SBA requires small businesses to provide a comprehensive application package to demonstrate their ability to repay the loan.
The SBA provides an 11-item checklist of documentation required to package the application for an SBA loan. It includes statements of personal history and financials, business financials, ownership and affiliations, business licenses, as well as several other documents. For the full list, head to the SBA's website to learn more. Also, each individual lender adds its own requirements on top of the SBA requirements.
FinTech Capital Management online intelligent technology platform streamlines the application process and matches each eligible small business with the preferred SBA lending bank most likely to approve their particular application. To secure an SBA-guaranteed loan, the best strategy in approaching the application is to be well-prepared. The more readily available your relevant documentation is, the faster you can complete the application.
To help you simplify and expedite the application process, FinTech Capital Management uses intelligent automation to request only those documents that are relevant based on your specific application. The system lets you pre-qualify in only five minutes so you know if you are a good candidate for an SBA loan from a bank in our network before most of the paperwork must be submitted. That means you won’t waste time gathering and uploading unnecessary documents.
Basic uses for the 7(a) loan include:
When you’re ready to apply, you’ll need to gather the appropriate documents. Start the process by working with your local lender within SBA guidelines.
Use the following checklist to ensure you have everything the lender will ask for. Once your loan package is complete, we will submit it to SBA:
If you are buying an existing business, gather the following information:
You may be required to submit more SBA forms based on the specific use of proceeds or fees paid on a loans package or to a broker or agent.
Select a loan type and answer a few questions about your business on the online application. You'll discover in about 5 minutes if you pre-qualify for a working capital or debt refinance loan of. This process will not impact your credit score.
After receiving your online application your dedicated Relationship Manager will give you a call to verify your loan request and how you will use the funds.
Once your application is approved by the bank, funds can be deposited into your bank account in as fast as seven days.
Do I need to use an agent to apply for an SBA Loan?
No, the SBA does not require the use of an Agent for Packaging Services or to refer a loan application in order to apply for an SBA loan. FinTech Capital Management clients choose to hire FinTech Capital Management for a variety of reasons including making the application process more efficient and increasing the likelihood of finding a bank that says 'yes'. In fact, many of our clients are turned away by a bank or simply turned off by how long the typical process takes them. We also find many clients take on an expensive loan from an alternative lender and save money by refinancing with an SBA loan.
After we receive your online application, we perform an internal credit analysis. This credit analysis is the method by which we calculate the creditworthiness of you as a borrower and the creditworthiness of your business. The owner must qualify as a grantor and the business must qualify as viable. A review of your personal and business credit scores, capacity, capital, collateral, conditions, and character along with any criminal background checks, liens, judgements, collections and outstanding debts is also used to determine your creditworthiness.
Meeting the banks eligibility requirements can be daunting for most clients. It’s why business owners turn to us for the technical assistance they need before their application is submitted to the bank. We’ll advise you then match you with the trusted lenders in our network most likely to ”Approve” your application.
This credit analysis does not guarantee that a bank in our network will extend you a loan.
Our experienced financial professionals and unique technology platform will then match you with the trusted lender in our network most likely to fund your business. FinTech Capital Management helps you assemble your SBA loan application before it is sent to one of our preferred SBA banks for review and funding. Approximately 90% of all loans referred to our bank network get funded. Throughout the application process, your dedicated Relationship Manager is available to guide you as you upload the required documentation and provide ongoing feedback on your progress.
Loan proceeds are disbursed. Once the application is approved, funds can be deposited into your bank account in as fast as 7 days.
Loan repayment terms vary according to several factors.
Term loans offered by banks in our network have fixed rates with shorter repayment periods and a faster, less document-intensive alternative to a traditional 10-year term SBA loan.
2-5 year repayment terms with stable monthly payments
$30,000 - $350,000 for working capital and debt refinancing
Competitive fixed interest rates
Eligible business owners are U.S. citizens or legal permanent residents
A Bank Term loan can be a good option if you don't initially meet the eligibility requirements for an SBA loan. It can also be a good option if you require funds quickly or you want a fixed interest rate with stable monthly payments.
There's only one streamlined application to complete whether you are applying for an SBA loan or decide to opt into a bank term option.
A Bank Term loan from a bank in our network can be used in a variety of ways to build your business and save money.
Working capital is used to cover a company's short-term expenses like inventory, equipment, marketing, payroll, hiring, and payments on short-term debt. Deduct current liabilities (primarily short term loans due within a year and accounts payable) from current assets (cash on-hand and things that can be easily converted into cash, like inventory and accounts receivable). If your current assets don't exceed your current liabilities, a bank term loan can get you back on track to help meet ﬁnancial obligations and cover day-to-day business expenses.
Many entrepreneurs rely on expensive debt when launching or in the early stages of their business. If those debt obligations are cutting into cash flow, refinancing can help you save big. For example, a marketing consulting company in San Francisco was making excessive monthly loan payments. The owner took out a $100,000 Bank Term loan with better terms and lower rates from a bank in our network. He was able to refinance three high cost loans, saving the business approximately $7,000 monthly.
A bank term loan can cover costs related to hiring like recruitment, training, salary, and beneﬁts. An automotive business in North Carolina needed additional workers to keep up with service demand. The business owner allocated $15,000 from a bank term loan to hire and train 2 new technicians. With the additional staffing, he'll be able to take on more jobs, increasing revenue.
Business equipment includes tangible property (other than land or buildings) used for operations. Examples include computers, machines, tools, and vehicles. A frozen food wholesaler allocated $60,000 from a Bank Term loan to replace outdated refrigerated equipment. The business now has reliable cold storage to handle current and future inventory.
A bank term loan can finance marketing efforts to build your brand, attract customers, and increase sales. Consider a Bank Term loan from a bank in our to cover things like advertising, trade show costs, promotional materials, and more. For example, an established beauty salon is using $10,000 from a bank term loan to revamp their website, invest in Google pay per click ads, and launch social media campaigns.
If you need to increase existing inventory or expand your product line, funds from a bank term loan can cover the costs. The owner of a cafe in California is using loan proceeds to purchase additional coffee and tea products. They'll save big by buying goods in bulk.
If you need funds for remodeling, bathroom updates, or other space improvements, consider a Bank Term loan from a bank in our network. A restaurant located in Atlanta came to us to solve a problem. Demand for their food was high, but their available dining space was too small. The business owner took out a Bank Term loan to expand into a space next door. The funds are being used to hire a contractor/engineer along with a designer to handle aesthetics. The projected additional revenue per day due to the larger space is $1,000- $1,500 per day.
A buyout is where one party purchases shares of a business to acquire a controlling interest in that company. Funds from a Bank Term loan from a bank in our network can finance this type of transaction.
Funds from a bank in our network can be used to purchase an additional business. However, funds cannot be used for a new business purchase. If you have questions, please ask your relationship manager for specifics.
An SBA loan, known as the “gold standard” in small business lending, is partially guaranteed by the government. This reduces the risk to banks so they are more willing to make a small business loan. SBA loans typically have lower interest rates and longer repayment terms. If you're not eligible for an SBA loan or need funds more quickly, a bank term loan can be the right solution. These loans are often processed faster and have shorter repayment terms.
Alternative Business & Equipment Financing
• MCA, LOCs, equipment, and term loans from $1K to $10M
• Mostly used for working capital, debt consolidation, equipment/inventory purchase
• 500+ borrower credit score
• 6 months minimum time in business
• No hard collateral required (except when financing equipment)
• 0% down payment options for equipment
• 3 to 84-month terms
• Daily, weekly, monthly payment options
• $8K+ preferred minimum monthly revenue (lower considered case-by-case)
• Most businesses considered
• Factor rates from 1.11x, and interest rates from 7.49% APR
• Bank statement, light doc., and full doc. (application only for equipment financing)
• Same-day funding available
SBA 7(a), Express, & 504 Fallout / Conventional Term Financing
• Term loans from $1K to $15M
• All SBA eligible proceeds, including unrestricted working capital
• 650+ borrower credit score
• Start-ups to established businesses
• No collateral requirement
• 10 to 25-year terms, including fixed rate financing
• Monthly payment options
• Most businesses considered
• Interest rates from prime + 1%
• Full documentation underwriting (streamlined documentation for < $500K)
Commercial Real Estate Financing (Bank and Non-Bank)
• Mortgages from $25K to $30M+
• Investment residential and commercial real estate (most CRE considered)
• 600+ borrower credit score
• Purchase, refinance, cash-out, and renovation
• 75% maximum LTV
• 12-month to 30-year fixed terms/amortizations
• Bridge and permanent financing
• Interest rates from 8.5%
• No prepayment penalty options
• Nationwide financing, including secondary and tertiary markets
• Asset based, stated income, and full documentation underwriting
No. In assisting you with your loan application, we initially conduct a soft credit pull that will not impact your credit score. However, after we refer you to the lender, the lender will request your full credit report from one or more consumer reporting agencies. This is considered a hard credit pull and can affect your score. This only happens after the lender receives your application and conducts their application review process.
Once your application is approved by the lender, funds can be deposited into your bank account in as fast as 7 days. The quicker you complete your application, the faster the process can proceed.
FinTech Capital Management helps you get to a “yes” by preparing and presenting your unique business history to the multiple banks in our lending network. For its services, FinTech Capital Management charges referral and consulting fees. Bank closing fees and additional third-party report charges may also apply. For complete and transparent fee and cost information for all of our products, questions, please call us at (832) 930-8484.
What types of financing are available to fund my business?
FinTech Capital Management is here to help you get the right funding at the right time to strengthen your business. We've worked with non-bank lenders to offer customized financing tailored for your unique situation. Options include:
Often, this financing can be secured much faster than loans from banks in our network. These options may also be a good fit if you've been in business for less than two years. Other types of financing offered can help you shore up cash flow, purchase equipment, and fund other short-term initiatives. Give us a call for more details about how you can use funds to strengthen your business.
Yes! We understand that not every business owner will initially qualify for an SBA loan or a Bank Term loan. So we work with a variety of select partners to get you these more customized options.
The pricing of these options will depend on your credit and financial profile along with the specific terms of the financial product you choose.
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