Although the Small Business Administration offers many types of business funding. SpotOn Financial focuses our efforts, team, and network in two key areas. Those are the SBA (7a) Real Estate Program with this program we can offer both purchase and refinance and the SBA 504 Programs for Working Capital and Equipment Purchase. We have helped business owners qualify for other government small business loans as well as emergency business loans.

The Small Business Administration 7(a) loans provide financing from $25,000 to $5 million to meet your general business needs, and are offered by banks. SpotOn Financial works with this banks to streamline the lending process and for a fixed fee helps borrowers apply and fund their SBA (7a) loan request. 

The U.S. Small Business Administration 504 Loan program conserves your working capital by requiring only a 10 percent borrower contribution.If you do not qualify for conventional financing, the SBA- 504 loan may be right for you.

Use of proceeds: Long-term, fixed assets for expansion or modernization (usually real estate or large equipment). Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.

Are you eligible to get a loan?

• The business is for-profit
• The business is located in the United States
• The business is valued at less than $15 million and the business has an after tax profit of less than $5 million a year over the average of two years
• The business owner will occupy 51% or more of commercial real estate that is being renovated or purchased
• The business owner will occupy 60% or more of commercial real estate that is being built
• The business has demonstrated need for credit.
• Business owner has personal FICO score at or over 640

Qualified borrowers can use Small Business Administration loans to:

• Finance startup expenses
• Finance working capital
• Purchase an existing business
• Buy, build or renovate commercial real estate
• Purchase machinery or equipment
• Business debt refinance
• Include professional fees

1. The Borrower completes intake with SpotOn Financial to check loan project eligibility and submits the loan package if eligible.
2. SpotOn Financial provides feedback to the lender on any additional information or documentation needed.
3. Once the package is complete, Lender submits it to SBA.
4. SBA APPROVES THE LOAN!
5. SpotOn Financial prepares a closing document for borrower to submit to lender. 
6. The Lender is now responsible to close and disburse the loan.
7. SpotOn Financaial is available to answer questions regarding loan modifications and liquidation.