SBA Loans Rates

Have you ever wondered why a lot of entrepreneurs and aspiring business owners choose the Small Business Administration (SBA) when they need loans for their business? It could either be a young and new business, or it could be a business that’s in need of financing for operations.

Whatever reason it might be, business owners approach and ask help from the SBA to suffice their business’ needs. But why is the SBA their first option in terms of loans? Aren’t there other options that they can go with? What makes the SBA so special?

Loan Requirements of the SBA

If we were to look at the requirements and the qualifications that the SBA look for, they’re difficult to attain. As a matter of fact, it seems impossible for a business that is not performing well to apply. But why do people choose to try with the SBA even if the requirements are impenetrable?

SBA Loans Rates-SoFlo Funding - Lines of Credit and Business Loans-Get the best business funding available for your business, start up or investment. 0% APR credit lines and credit line available. Unsecured lines of credit up to 200K. Quick approval and funding.

Here at SoFlo Funding, we love educating you on the funding process, whether you are a startup or an established business. So below are two of our preferred funding partners that we highly recommend. Fundwise Capital and David Allen Capital have provided the top funding solutions for thousands of entrepreneurs nationwide. You can read about them by clicking either of the two buttons below

What is 24+44?

Is it because of the rates of the SBA loans? Is it because of the amount that they can grant business owners and clients? The answer is both – the interest rates of the SBA loans are low and the amount that they can provide for funding is high and it can go high as $5 million.

SBA Loans Rates

Just like any other company or lending institution, the rates that the SBA has for their loans vary from the negotiation between the borrower and the lender. But to give you an example, the SBA 7(a) loan, one of the types of loans they offer, the rates of it are as follows:

Loan amount $25K and less

  • The maximum rate if the maturity is 7 years or less is the base rate plus an interest rate of 4.25%
  • If it’s 7 years or more, it’s the base rate plus 4.75%

Loan amount $25K to $50K

  • If the maturity is 7 years or less, the interest would be the base rate plus 3.25%
  • But if the maturity is 7 years or more, the interest would be 3.75%

Loan amount $50K or more

  • If the term will end in 7 years or less, it’s going to be the base rate plus 2.25%
  • But if the maturity is 7 years or more, the interest would be at 2.75% plus the base rate

As you can see, the rates of this type of SBA loans are substantially lower than what other institutions like banks, credit unions, and even lending companies offer. That’s why they’re crazed in applying for the loans of the SBA.

The problem, to iterate, is with the requirements that they’re asking. It’s difficult to land an approval with the SBA, and it’s even more challenging to give them what they want.

Alternatives to SBA Loans

Have you already tried applying for any loans with the SBA? Did you get rejected because of the requirements and the qualifications that they’re looking for? Don’t worry, we here at SoFlo Funding are always ready to help.

Our company has adapted to the needs and the practices of other lenders, so we did our best to compile the best practices to give our clients the experience they deserve. Our loan programs can be considered as an alternative to the loans offered by the SBA because we exercise the same thing.

Though we don’t offer the same rates as the SBA loans, we do our best to keep the interest rates at the minimum

Benefits of Working with SoFlo Funding

With SoFlo Funding, you can be guaranteed that you’ll get the best that we can offer. Unlike other lenders who take advantage of the interest rates, you will see that our rates are competitive and that it’s something not ridiculously high and lucrative.

Aside from the interest rates, here are other advantages of working with us:

  • Easy, fast, and secure application process – no need to leave your homes to apply!
  • Amount that can go high as $500K and more!
  • Convenient fund availability – have your funds transferred or deposited to your bank account!
  • We don’t ask for too much requirements from our clients

When you apply for any of our loans, expect that you’ll get the result of your application in less than a week – it’s sometimes just 24 hours from the time you complete the application! In most cases, it’s between 24 to 48 hours!

The SBA is a special agency designed to help and assist small businesses in the country. And it is their duty to provide the best and the lowest rates. But if you’re unfortunately lacking what they’re looking for, then you can’t force them to grant you the funds you need for your business.

If you are eager to apply for a loan that is closely similar to the SBA loan rates, then work with us here at SoFlo Funding and get the amount that you need plus interest rates that are considerate and reasonable!

What is 24+44?

Here at SoFlo Funding, we love educating you on the funding process, whether you are a startup or an established business. So below are two of our preferred funding partners that we highly recommend. Fundwise Capital and David Allen Capital have provided the top funding solutions for thousands of entrepreneurs nationwide. You can read about them by clicking either of the two buttons below

Below are some of the loan products that you will get from our company: