SBA Financing

Exploring Your Options in SBA Financing

The Small Business Administration (SBA) offers guarantees for loans designed to assist smaller companies with acquiring property, purchasing equipment and making improvements to currently owned real estate holdings. These loans can also be used to refinance current debt or to establish a necessary line of credit for your business. The Boca Raton SBA financing lawyers at Berkowitz and Associates can help you to determine if you qualify for these types of financing and to navigate the application process successfully.

Six Types of SBA Loans

The SBA does not directly offer loans to small businesses. Instead, the agency guarantees loans that are then offered and administered by banks and financial institutions in the private sector. Six types of SBA loans are available to businesses operating in the U.S.:

• SBA 7(a) loans can be used to purchase real estate or equipment, to refinance debt, to acquire another company or to generate working capital. Loans are available for amounts up to $5 million.
• SBA CAPLines are lines of credit that last for no more than five years and that are available in fixed and revolving types.
• CDC/SBA 504 loans can be used for the purchase of heavy equipment and for acquiring commercial real estate in which the business will be located.
• SBA Microloans are available for amounts up to $50,000 and are issued by nonprofit organizations for terms of no more than six years.
• SBA Export loans provide funding for small businesses in expanding their distribution to the international community.
• SBA Disaster loans are intended to help businesses rebuild after they have sustained damage due to a federally declared disaster.

Your Boca Raton SBA financing lawyer can provide you with the best advice on qualifying for these loan arrangements and acquiring the funding you need to achieve greater success in the Florida business environment.

SBA loans typically offer more favorable terms for borrowers and may allow companies with limited credit to acquire funding for their ongoing needs or one-time acquisitions. At the Boca Raton business law firm of Berkowitz and Associates, our team of Boca Raton SBA financing lawyers can help you determine whether your business is eligible for these preferred lending arrangements. We have the experience and proven expertise your company needs to navigate the application process more easily and effectively. To learn more about your options in the SBA financing marketplace, give us a call at 561-982-7800 to set up your initial consultation. We can help you with the most practical advice for managing your financial needs now and in the future.