Loan program is basically sketched for the existing small businesses and startups. For helping those businesses, SBA took a stand earlier in the year of 1953 and from then it is continuously putting a great impact on the small business industry. Since SBA never lend out the loan itself, we are always there for you with a quick, short and easy loaning facility. Miner Capital has been a profound source for the SBA 7(a) loan and it is continuing to regain the reputation. We hold out the loan with totally clarified manner as our clients are the most important part of our business.

We give out the SBA 7(a) Loan Program with the terms below:

LOAN SIZE Minimum – $50,000 Maximum – $5 million
INTEREST RATE Predominantly variable; certain fixed-rate alternatives
TERMS
  • Up to 25 years – real estate
  • Up to 10 years – business acquisition, equipment
  • 5 to 7 years – working capital
  • Weighted average for mixed-use requests
LTV Up to 90%DOWN PAYMENT Minimum 10% borrower(often more) Up to 90%
ELIGIBLE BUSINESS SIZE
  • Calculated by industry nature
  • Yearly sales not to surpass range of $750,000 to $33.5 million for trade, service and cultivation
  • Amount of staffs not to surpass range of 100 to 1,000 for wholesale and production
LOAN STRUCTURE
  • Loan structure flexible; reliant on risk
  • 10% down payment (least)
PROCEEDS USE
  • Expand, acquire or start a business
  • Purchase or construct real estate
  • Refinance existing business debt
  • Buy equipment
  • Provide working capital
  • Construct leasehold improvements
  • Purchase inventory
PROGRAM REQUIREMENTS
  • 51% proprietor occupancy for existing building
  • 60% owner occupancy for fresh construction
  • All resourcessponsored must be utilized to the direct profit of the business
COLLATERAL
  • Subject propertiesobtained by loan earnings
  • Pledge of own residence unless bank can validate why unnecessary
  • Personal collaterals of the main owners of 20% or more ownership are obligatory
FEES
  • Fees can be sponsored in the SBA 7(a) loan program
  • Fees differ with the extent of loan paired with 504 loans
  • Additional .25% claimed on any loan section above $1 million
CLOSING TIME As soon as 45 days