Small Business Loans: The Next Step Toward Growing Your Business
When your small business needs funding, an SBA loan from Optimal Alternative Lending is the solution. Because the Small Business Administration partially guarantees this type of loan, it is more secure option. We offer competitive rates and can get you qualified quickly.
How to Qualify for an SBA Loan
While each business will be considered for this type of loan on an individual basis, there are minimum requirements every business must meet in order to be eligible to apply. These include:
- In operation for at least two years
- Have a business owner personal credit score of above 640
- Producing a minimum of $100,000 in revenue annually
You can take out a loan of this kind for anywhere from $500 up to $5 million based on approval and repayment terms are typically 10-15 years. There are no penalties for prepayment on this amortized loan, and the pre-qualification process at Optimal Alternative Lending helps ensure the process proceeds as quickly as possible.
What Your Small Business Loan Can Finance
You may need a loan to finance the renovation, purchase, or building of your business property. At Optimal Alternative Lending, we can provide funding for business from car dealerships and hotels to childcare facilities and nonconforming properties. Since much of the cost involved with small business ownership can be in the tools, we can also finance equipment for trucking, manufacturing, medical needs and more. We are here to make sure your business is set up for success.
Why an SBA Loan is the Answer
There are many benefits to this type of loan including:
- High loan amounts
- Long repayment periods
- Flexible options for collateral
- Less risk than traditional financing
At Optimal Alternative Lending, we make sure the loan process is as simple as possible and you can take advantage of these benefits quickly.
Get Answers Today
To find out more about what is covered by a small business loan with Optimal Alternative Lending, contact us today. We will gladly answer all your questions and help begin your loan process so you get the funding you need.