SBA Loans in Washington, DC
Your small business in Washington DC will need commercial loan at diff stages for diff purposes. Whether it is for purchasing real estate, machinery, purchasing a business, or for working capital, the SBA offers multiple programs to address specific needs. For example, SBA 504 LOANS are designed to funding purchase of commercial real estate and heavy equipment or machinery. SBA 7A supports purchase of business or building working capital. There’s a Subprime SBA program for providing commercial loan to businesses with lower credit ratings.
Determining the right commercial loan for your business plan can be a challenge. With so many types of loan programs and so many lenders to navigate through, you will need professional assistance to make the right choice. This is where we at Mid Atlantic Commercial Capital, LLC can assist you with the entire process.
What are SBA 504 Loans?
The SBA 504 loan money is meant to be used for the following kinds of business decisions that promote growth and job creation:
- Purchasing a building
- Funding building improvements
- Funding ground-up construction
- Purchasing heavy machinery or equipment
SBA 504 LOANS offer the following advantages:
- Fixed rate of interest
- Greater cost savings, when considering the rising interest rates
- Lower upfront and lifecycle cost
The key features of this federal government-backed commercial loan include:
- Low Down Payment: You may be required to fund just 10% of the project cost
- $5 Million Limit: Up to $5 million in funding for businesses in rural areas or meeting other criteria. Funding up to $5.5 million for manufacturing companies meeting certain NAICS codes.
- Multiple Loan Terms: Applications can be made for 10-year, 20-year, and 25-year loan terms.
Our SBA 504 Loan experts can assist you in availing commercial loan based on your needs and the criteria met by your business. We bring 70 years of experience and professional business relationships with approved lenders to make the process smooth for you.
What are SBA 7A Loans?
We also assist you with your SBA 7A LOANS. The funds can be used to meet your short-term or long-term working capital needs. Other allowed applications include:
- Purchase a business
- Purchase supplies, furniture & fixtures
- Refinance existing business credit
The key features of SBA 7(a) loans include:
- Avail up to $5 million in financing
- Option to choose between fixed and variable interest rates. The decision depends on the SBA maximums and negotiation between you and the lender.
- Maturity terms vary based on loan purpose and repayment capability
- Fees depend on the amount of loan and the maturity term.
Subprime SBA Loans
Do you have low credit? You may find it difficult to secure more traditional loans. We use our decades of experience, market reputation, and strong business relationships to assist you in with SUBPRIME SBA LOANS in Washing DC. This loan is also available for businesses without collateral and if you have limited documentation.
The key features of this SBA loan program include:
- 10 to 25 years of maturity
- Access to larger loan sizes
- Minimum interest rate of 6.5%
- Available for most industries
- Debt consolidation
Secure Much-Needed Commercial Finance
We assist you in accessing a network of thousands of lenders across the nation. This includes:
- Government agencies
- Conventional lenders
- Bridge lenders
- Private investors
- CMBS lenders
- Collateral & hard money lenders
We also have business relationships with special lenders to work on more difficult loans. When we present your loan application to these lenders, they know that we have evaluated your eligibility.
If you need more information about our services and want to secure commercial financing, contact us today at Mid Atlantic Commercial Capital, LLC. We can be reached on 540-825-9800 or you may write to us using this Contact Us form.