Here at Peach Capital Funding in Irvine, you can count on our expertise in SBA Loans for startups and businesses. We can proudly say that we’ve successfully helped hundreds of businesses in the Orange County area through the qualification process for an SBA loan. SBA loans are one of the most sought-after business loans in the market. They have the lowest down payment requirements, longest payment terms, reasonable interest rates, and can be used for a variety of business needs.
What are the SBA Loan Requirements?
Peach Capital Funding understands the process from start to finish and knows the exact SBA loan requirements for small businesses to get approved. Applying for an SBA loan is a tedious process. It requires extensive paperwork and getting approved can be a challenge. Even with a perfect proposal, an SBA loan approval will take at minimum three weeks. Let the business lending experts at Peach Capital Funding come up with a custom-tailored strategy to give your small business the best chance at getting the funding it deserves.
Peach Capital Funding Will Guide You Through the SBA Loans Process in Irvine
A common misconception people have is that the Small Business Administration (SBA) is directly handing out loans to small business owners. However, what is happening is that the SBA uses federal money to guarantee a percentage of loans administered by traditional banks. This incentivizes financial institutions to take more chances than they otherwise would on small business ventures. You’re still dealing with a bank though, and successfully acquiring a loan will require detailed information about your business. Documents like credit reports, financial statements, and how you will utilize the loan money are just some of the details required.
Putting together the perfect submission to get an SBA loan approval can be stressful. Nine out of ten applications that are submitted to the banks get declined, and the rejections don’t come with constructive feedback. You can avoid this common pitfall by having Peach Capital Funding in your corner. After consulting with us, our team will highlight your strengths as a business and come up with a comprehensive presentation that details your marketing and business plans, future business projections, and more.
We are the Experts on SBA Loans for businesses in Orange County!
Peach Capital Funding can also help you decide between SBA loans, whether you’re considering a 7(a) loan (general financing needs), or the CDC/504 loan (major fixed assets such as large equipment and real estate). We will help you select which SBA loan is best for your business.
Just remember: SBA loans are for business owners with strong borrowing histories. Entrepreneurs with a limited track record will have a hard time qualifying, but don’t be discouraged! Even if you don’t qualify for an SBA loan, Peach Capital Funding can help you find many other types of business loans that can effectively fund your enterprise. If you have any questions or concerns, contact Peach Capital Funding in Irvine today!
Types of SBA Loans SBA 7(a) Loan: General financing needs
- Up to $5M in loan amount
- Repayment terms of up to 7 years (for working capital loans) or up to 25 years (for commercial real estate loans)
SBA CDC/504 Loan: Major fixed assets such as large equipment and real estate.
- Up to $5.5M in loan amount
- Repayment terms of 10 or 20 years