Global Funding Enterprises is privileged to be recognized as a Preferred Financial Services company, a designation granted by SBA lenders to expedite and enhance the processing of loans, setting us apart from others in the industry.
Choosing an SBA loan brings forth numerous advantages, most notably extended repayment terms, absence of points, and no balloon payments, contributing to a more favorable borrowing experience.
Loan Qualifications
SBA 7(A) Loan Size: Ranging from $150,000 to $5 million
- Must have fewer than 500 employees
- Business must be located in the U.S.
- Your company must operate for profit
Loan Fees
- Loan packaging fee: $750 to $2,000
- Fee is determined by the loan size and is collected upon loan submission. If the loan is declined based on credit assessment, the fee will be refunded
- SBA guarantee fee ranges from 1.70% to 2.60% of the loan amount
- Fee can be included in the loan financing
Use of Proceeds
- Commercial real estate (purchases, construction, or refinance)
- Short & long-term working capital
- Business acquisitions & expansions
- Machine & equipment purchases & installation
- Furniture, fixtures, & supply purchases
- Refinancing current business debt
- Start-ups (Franchises, Hotels, Restaurants, & Gas Stations)
Other Credits Considerations
- Business must have adequate cash flow to cover the debt
- Borrowers must be actively involved in the day-to-day operation of the business
- Satisfactory personal credit is required for all principles and guarantors
- Business debt to equity ratio must meet industry standards
- No past bankruptcies or felony convictions