SBA Working Capital | Debt Refinance Loans
Working capital can be used for inventory, marketing, receivables, bookkeeping, legal fees, hiring, refinance existing business debt, new equipment purchases and many other areas. The SBA 7(a) loan is the SBA’s most popular loan program. If you want to take out a loan so that you can have access to working capital, purchase furniture and fixtures, make leasehold improvements, or acquire an existing business, you should consider applying for a SBA 7(a) loan.
Qualifications & Borrower Eligibility:
Heavily dependent on business cash flow demonstrated by 2 years of tax returns.
- Must have sufficient business and personal cash flow to service debt payments
- No bankruptcies or foreclosures in past 3 years
- No open tax liens (Can be overlooked if on a payment plan)
- No recent 30+ day late payments
- No felonies
- No delinquencies and/or default on government loans
- Owner(s) must be U.S. citizen(s) or lawful permanent residents
- Business must be located in the U.S.
- Non-profit businesses are ineligible