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SBA Loan

What is an SBA Loan?

SBA loans are partially guaranteed loans by the Small Business Administration (SBA) and issued by SBA approved lenders. These loans are relatively inexpensive with interest rates varying from 6.00% to 8.00%, or 2.75% to 4.75% plus the Prime Rate. The process for applying for an SBA loan requires paperwork including past tax returns, financial and other business disclosures. Camino Financial works with an SBA loan originator that pre-qualifies businesses in minutes and funds a loan as quickly as 5 to 7 business days after the application is complete.

  • Working Capital

 

  • Refinancing Uncollateralized Debt

Permissible Use of Proceeds

  • Purchasing Real Estate

 

  • Finance Construction over $10,000

 

  • Change in Ownership

 

  • Acquire an Existing Business

Restricted Use of Proceeds

Minimal Requirements

  • 600+ credit score

  • $50,000+ in annual sales

  • 2-Years of tax returns

  • Owned by US citizen or lawful permanent resident

  • Minimal cash flow to cover debt

  • Separate bank account

  • No criminal record

  • Business and/or personal collateral required

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