SBA Business Acquisition Loan
Get SBA Business Acquisition Loans With Only 5% Down. Access SBA loans for business acquisition with minimal equity injection up to $5 million and favorable terms in 30 days.
SBA Business Acquisition Loan Introduction
SBA loans offer a guarantee from the federal government of 75% - 90% of the loan amount, making banks more comfortable lending and easier for under-collateralized businesses to get the funding they need.
An SBA Business Acquisition Loan provides funding to entrepreneurs looking to purchase an existing business. These loans are backed by the Small Business Administration (SBA), which guarantees a significant portion of the loan amount, making it easier for borrowers to secure financing with favorable terms.
Benefits
- Minimal Down Payment: Only 5% down payment required, which can come from a gift.
- Preserve Liquidity: Allows buyers to maintain cash flow by minimizing upfront costs.
- Extended Loan Terms: Loan terms range from 10 to 25 years, ensuring manageable monthly payments.
- High Loan Amounts: Loans up to $5 million are available, enabling the purchase of larger businesses.
- Fixed Interest Rates: Enjoy the stability of SBA-backed interest rates.
- Business Real Estate Option: Opportunity to buy a business along with commercial real estate, offering stability and potential tax benefits.
Qualifications
Application Process
- Minimum FICO Score: 640 (Experian model v2).
- Time in Business: No minimum for the business being acquired, but the buyer must have transferable experience.
- Profitability: The business being purchased must be profitable enough to support the repayment of the SBA loan.
- Documentation: A solid business plan and financial projections are required.
- Use of Funds: Funds can be used for business acquisition, working capital, inventory, equipment, commercial real estate (owner-occupied), renovation, and leasehold improvements.
- Start Online Application: Click on the "APPLY HERE" button on the Spartan website.
- Provide Basic Information: Fill out basic details about yourself and your business.
- Submit Application: Complete and submit your application.
- Document Upload: Follow the instructions received via email to upload any required documents.
- Receive Decision: Get a decision within 24 hours and funding within 7 days or less.