Project Types

Business Acquisition Loans

  • Financing available for most of the eligible industries including: manufacturers, professional practices, retail stores, restaurants, dry cleaners, day care centers, wholesalers, hotels, gas stations/convenience stores, franchises and other industries
  • Loans available to purchase an existing business
  • Loan amounts up to $5,000,000
  • Long repayment terms, reducing monthly payments
  • Terms of up to 10 years depending on the use of the proceeds (terms will be longer if real estate is included with the business purchase)
  • SBA 7a loans with terms of up to 15 years have no prepayment penalty while terms of 15 years or greater have no prepayment penalty after year 3
  • Rates are based on a spread over the Prime Lending Rate (rates vary depending on the specific strengths of the transaction)
  • All customary fees apply
  • Borrowers must have direct or highly related industry experience coupled with acceptable personal credit histories
  • Transaction can be structured as either an asset or stock purchase
  • Loans typically must be secured with a First Security Interest in all business assets as well as all available collateral (including the borrower’s personal residence) until the loan is fully secured
  • Third party business valuation may be required