SBA Loan

Looking for the most affordable loan and having the time and patience for lengthy process? Plousio can help you to find the most competitive SBA loan offers to grow and expand your business.




In a Nutshell

The U.S. Small Business Administration has launched many versions of the SBA loan program with the intention of enabling small business owners to borrow money from financial institution for virtually any business purpose, including adding working capital, purchasing inventory, and more. Since the loan is sponsored by U.S. government, the participating institutions are willing to provide a much larger loan amount and a lower interest rate. This is a great option to explore if you do not need the fund immediately and have the time and energy to go through a lengthy process.

Loan Amount

Up to $5M

Interest Rate

As low as 6%

Term

Up to 25 years

Funding Time

As little as 4 weeks

Benefits and Drawbacks

Pros

  • Low interest rate
  • Large loan amount
  • No balloon payments

Cons

  • Slow approval and funding process
  • Collateral might be required
  • Large amount of paperwork

What Does It Take?

As you might know all loan products have minimum requirements to qualify. Knowing them in advance can significantly improve your chances of being approved and getting the funding that your business needs to grow. Have questions? Don’t worry, our team and our service can help you prepare your loan application and get you a great deal.

  • Monthy Sales: $9,000/month
  • Time in Business: 24 month
  • Credit Score: 640
  • Drivers license
  • Voided business check
  • Profit & loss statement
  • Bank statement (12 months)
  • Business tax returns (2 years)
  • Balance sheet
  • Personal tax returns (2 years)
  • Business Plan
  • Business debt schedule

How Does Plousio Work?

Plousio makes it easy to find a great small business loan with the most competitive rates. Simply answer a few questions, select a lender and fill out our account creation form and you’ll start receiving new offers right away! With 3 easy steps, you can get your death care business funded!

Step #1: Apply online or call 1-508-848-0534

Step #2: Receive the most competitive offers

Step #3: Get funded within 24 ~ 48 hours

FAQ

SBA lenders consider a wide variety of factors when underwriting a loan, including business plan, number of years in business, personal credit score, and more.

The SBA loan has several variations, and each variation has its own limitation in terms of fund usage. SBA 7(a) is the most commonly used SBA program and can be used for a wide array of purposes, including acquire a business, purchase equipment, refinance, and more. SBA 504 is developed to provide capital for the purchase of fix asset, real estate, building, or machinery. SBA Express is often used for working capital or purchasing equipment, and it has a lower maximum loan amount of $350,000.

SBA loan programs are designed for more established businesses. Typically, a business needs to generate $100,000 annual revenue with at least 2 years of establishment. The business owner’s personal credit score would need to be above 640.

Besides the loan interest, borrower also pays a loan guaranty fee to SBA. Guaranty fee can be anywhere between 2% and 3.75% of the guaranteed portion, depending on the loan size. For example, a $5,000,000 SBA loan with 75% ($3,750,000) SBA guaranty would cost the borrower $138,125 in guaranty fee calculated as 3.5% of the first $1 million guaranteed plus 3.75% of the remaining guaranteed amount.

Plousio is a marketplace which brings together 70+ lenders to complete for your business loan request, so you can be sure that you are getting the most competitive offers available anywhere.

What our customers say about us!

Contact a Plousio Funding Adviser Today

If you need help with determining your funding eligibility or preparing application and documents, please contact our funding adviser today. Plousio funding advisers pride themselves in transparency and non-aggressive communication practices. They are not here to make sales quotas, instead, focus on helping you every step along the way of your funding process. In the unlikely event, you do not think that Plousio is the right solution for you, just let us know – No problem! We promise we wont be calling you 5 times a day like some other companies do.

Other Business Loan Products From Our Marketplace

A/R Finance

Up to $500K

Interest rate as low as 2%

Biz Line of Credit

Up to $5M

Interest rate as low as 7%

Equipment Finance

Up to $500K

Interest rate as low as 7%

Merchant Cash Advance

Up to $500K

Interest rate as low as 14%

Revenue Based Loan

Up to $500K

Interest rate as low as 10%

SBA Loans

Up to $5M

Interest rate as low as 6%

Short Term Loan

Up to $250K

Interest rate as low as 10%

Term Loans For Business

Up to $500K

Interest rate as low as 6%

Startup Solution

Up to $150K

Introductory rate as low as 0%