Small Business Loan, SBA

Is the Small Business Loan Program Right for You?

For some hopeful business owners, the traditional route is the best route. If you are considering using the Small Business Administration’s Small Business Loan Program, allow to assist you. We are a Preferred Financial Services company dedicated to helping you determine if an SBA loan can meet your needs.

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Who Qualifies for an SBA Loan?

Traditional loans for small businesses are available for a wide variety of business types. Whether you own a gas station, own the biggest hotel in the city, or simply need more capital for a child care facility, chances are your business type can benefit. Other qualification requirements include proof of quality business management and proof of cash flow.

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What Are the Terms?

Loans vary slightly from business to business and situation to situation, However, most of them have 15-year terms and allow you to acquire financing of up to 80 percent. These amortized loans mean you won’t see rising interest rates. Unlike some loans, you won’t receive penalties for paying your loan back before the term is up.

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What Is the Money Used For?

Your loan is yours to use as you please with the only stipulation being that you use it for your business and not personal expenses. Some business owners use it when they need to purchase or lease new equipment or heavy machinery. Others use it to buy new property. You can also spend your funds to:

·       Pay employees and vendors

·       Order supplies

·       Remodel current properties

·       Improve menus or other customer-oriented items

·       Pay other debts

·       Purchase company vehicles

·       Create new advertising campaigns

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Are you ready to see if you qualify for a loan for your small business? Parkshore Capital is ready to help. Contact our financial experts today to start the application process. Loans are available for up to $5 million and you can prequalify in as little as 48 hours.