SBA Express Loans and 7(a) multi-purpose loans - We Cover All Your Business Needs.
You can use SBA loans for expansions, purchases, leasehold improvements, buyouts, or additional working capital, whether you're looking to expand, buy a new property, make leasehold improvements, or simply need some extra working capital.
Why Consider SBA Loans As A Business Financing Option?
SBA loans, particularly the 7(a) and Express Loans are versatile and can be used for almost any business purpose. With a variety of term loans available (up to 25 years upon loan approval) and a maximum loan amount that can go up to $5,000,000, your business is sure to find an option that can meet your most basic or your most complex needs. And, because of the government guarantee that comes with these loans, interest rates are very favorable.
SBA Loans Can Be Used For All-Purpose Financing
Working Capital to finance almost any business need you can dream up. You can get one loan and work with one lender for your needs.
The Gold Standard in Small Business Loans
Low down payment interest rates help keep inflation costs down (thanks to that government guarantee decreasing lender risk). Long terms and flexible payment schedules allow you to keep your cash reserves intact.
Not Just Money
Some SBA-backed loans come with hard-to-find resources and access to mentorship programs. Whether you get a loan or not, the SBA has a number of services to help small business growth.
Fueling the Economy
The SBA backs billions of dollars in loans to small businesses each year, keeping businesses running. The SBA doesn’t typically cost taxpayers a penny; The SBA funds itself with the guarantee fee it collects.
SBA Loans Pros And Cons – What You Need To Know
Pros
- Low-interest rates
- Favorable repayment terms
- Low down payments
- Available for many uses
- Little or no collateral needed
Cons
- Smaller loan amounts on some loans
- Longer approval process than some lenders
- Good credit is often required
- The variety of programs may be confusing
- Personal guarantees are often required
FAQs
How To Apply?
It only takes a few minutes to apply for a line of credit with IMS Fund. Please fill out our online application, upload your three most recent bank statements, and you're good to go! Upon receipt of your application and bank statements, our Financing Specialist will contact you and let you know what credit line size you qualify for.