SBA Loans for Startups
Business owners need funding for the growth and success of Startups. At Elite Finance Team, we provide you with SBA loans to meet your business needs.
Need Funding for Your Startups?
The right loan can make a significant difference, whether you’re starting or growing. An SBA loan offers flexible options with competitive interest rates to help Startups owners secure the financial support they need. By partnering with an experienced SBA lender like Elite Finance Team, you gain access to expert advice, a straightforward loan application process, and various solutions that would help your business goals.
Find The Right SBA Solution for Your Business Needs
Navigating the options for SBA loans can be overwhelming, but the Elite Finance Team makes the process easy. We help match you with the most suitable loan program by analyzing your business’s financial health, including credit score, current lenders, and required loan amount.
Types of SBA Loans We Provide
SBA 7(a) Loan Program
The SBA 7(a) loan is a widely used program, offering flexible funding for purposes such as purchasing equipment, managing working capital, or expanding your business.
SBA CDC/504 Loan Program
This program provides long-term financing for assets like real estate or equipment, enabling sustainable business growth.
SBA Microloans
SBA microloans are perfect for businesses with smaller financial needs, such as purchasing inventory or hiring staff.
SBA Disaster Loans
For businesses affected by unforeseen events, SBA disaster loans provide financial relief to help recover and rebuild.
SBA Loans for Startups
SBA loans for startups offer accessible funding with low-interest rates and flexible terms to help new businesses grow and succeed.
SBA FastTrack™
| Minimum FICO Score | 700 Equifax model v9 |
| Minimum SBSS (small business scoring system) | 170 |
| Time in Business | 2 years |
| Felonies Allowed | No |
| Bankrupctcy Allowed | 1 bankrupcy allowed after 10 years seasoning; multiple BK’s not allowed. |
| Use of Funds | Working Capital |
| Debt Service Coverage Ratio | Not required, but business must show at least $1 in profit (NOI) on last filed tax return |
| Taxes Owed | All taxes must be current; including 941 payroll taxes, 1040 personal taxes and 1120 business taxes. |
| Closing Timeframe | 3 weeks |
| Loan Term | 10 Years |
| Loan Amount | $50,000 – $150,000. Loan amount is 33% of gross revenue on the last filed tax return up to maximum loan of $150,000 |
| Interest Rate | Prime + 3%, variable adjusting quarterly |
| Fees | 2% charged by LoanBud to client; 2% charged by Broker to client; $1,500 packaging fee charged by lender to client |
| Commission to Broker | 2%, paid by client |
| Documents Needed | |
| *required for initial pre-qualification submission |
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How We Provide SBA Loans
Getting a business loan with Elite Finance Team is simple:
Apply in Minutes
Complete a loan application online or with one of our advisors. We’ll evaluate your financial situation, including your credit score and business goals.
Compare Options
Based on your needs, we’ll present the best SBA loans and other lending options, highlighting features such as interest rates, repayment terms, and flexibility.
Customize Terms
Work with our team to adjust the loan amount and repayment schedule to fit your requirements.
Get Funded
Once approved, funds are disbursed quickly, allowing you to focus on running and growing your business.
Why Choose Elite Finance Team?
When selecting a partner for your business loan, it’s essential to work with experts who understand SBA loans. Here’s why Elite Finance Team is the right choice:
Expert Financial Guidance
Our experienced team offers advice on interest rates and helps you through the loan application process, ensuring you make informed decisions.
Client-Centered Approach
Whether you need a credit line, a loan to refinance existing debt, or funds for a specific project, we align our solutions with your business needs.
Comprehensive Solutions
We provide several business loans, including term loans and working capital financing, addressing short-term challenges and long-term goals.
Proven Track Record
With a history of securing favorable interest rates and repayment terms, we’ve helped numerous businesses achieve their objectives.
Transparent Communication
From explaining loan terms to answering questions about repayment, we ensure you feel informed at every step.
Fast Funding Process
Our streamlined processes ensure quick approvals and access to the funds you need to keep your business moving forward.
Partner With Elite Finance Team For Your SBA Loan Needs
Securing the right business loan can transform your business. At Elite Finance Team, we’re committed to simplifying SBA loans. From selecting the best SBA lender to customizing your loan application, we make the process straightforward. Get the financial support you need to thrive.
