SBA 7(a) Loans/Rural USDA

SBA 7(a) Loan Programs, Rural USDA

No geographic or population restrictions

Minimum credit score 580(may need  letters of explanation if below 580)

Loan amounts:  250k to 5 million max

90 to 180 days to close

Full doc loans with 2 years tax returns

Borrower must have 1 year of direct or related experience for eligibility or bring on a partner who has the needed experience.

Fixed rate loan

Max. loan amount is 90% you bring 10% down to close

Interest rate WSJ + 4%  subject to change.

Prepayment penalties on loan per government.

Finance office, retail, mixed-use, industrial, commercial condos, manufacturing, warehouse, self storage, auto service, funeral home, bars/night clubs, adult living facilities, daycare, marinas, restaurants, hotel/motel, gas stations, campgrounds, bowling alleys, and others.  Buy a franchise, existing business with or without real estate.

Business only no real estate or with real estate attached

All industries can be considered

Nationwide, no geographic or population restrictions

Both programs will lend to foreign nationals with green card.