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SBA Loan Program

SBA loans are small-business loans guaranteed by the Small Business Administration. Bosfin Group works with a group of  participating SBA lenders and banks.

The SBA can guarantee up to 85% of loans of $150,000 or less and 75% of loans of more than $150,000. Loans can go up to $5 Million. 

SMALLER LOAN REQUESTS

Bosfin Group highly recommends this program for debt consolidation and working capital. The rates are excellent and payments intelligently spread over years, not months. Great for business growth and job-creation objectives.

These are the eligibility requirements to apply for a $30,000 to $350,000 SBA 7(a) Working Capital or Debt Refinance Loan:

  • Time in business must be above 2 years
  • Business owner’s personal credit score must be above 650
  • The business must be U.S. based and owned by US citizen or Lawful Permanent Resident who is at least 21-years old
  • No outstanding tax liens
  • No bankruptcies or foreclosures in the past 3 years
  • No recent charge-offs or settlements
  • Current on government-related loans

Call for personalized assistance (781) 709-7672 or write support@bosfingroup.com 

LARGER LOAN REQUESTS

The eligibility requirements to apply for a $500,000 to $5,000,000 SBA 7(a) Commercial Real Estate Loan are:

  • Time in business must be above 2 years
  • The business owner’s personal credit score must be above 675
  • The real estate must be majority owner-occupied
    • This means that at least 51% of the square footage of the property you’re buying must be occupied by and used by your business.
  • Sufficient business and personal cash flow to service all debt payments, demonstrated by 3 years of tax returns and interim financial data
  • No delinquencies and/or defaults on government loans

Typically, businesses approved for an SBA loan through this program have $50,000 to $5 million in annual revenues and 1 to 40 employees. Most are profitable and cash flow positive.