As an SBA Preferred Lender, RMO Financial can process and approve SBA loans in-house, which means faster decisions and smoother closings. Here is an overview of the SBA loan programs we offer.
SBA 7(a) Loan:
- The most versatile SBA loan, usable for working capital, equipment, real estate, business acquisition, or debt refinancing.
- Loan amounts up to $5,000,000.
- Repayment terms up to 10 years for working capital and equipment, up to 25 years for real estate.
- Down payments as low as 10%.
SBA Express Loan:
- Streamlined application for faster approval, typically within 36 hours.
- Loan amounts up to $500,000.
- Available as a term loan or revolving line of credit.
- Ideal for small businesses that need capital quickly.
SBA 504 Loan:
- Designed for purchasing fixed assets such as commercial real estate or major equipment.
- Below-market fixed interest rates on the SBA portion.
- Down payments as low as 10%.
- Terms of 10, 20, or 25 years.
Eligibility: SBA loans are available to for-profit businesses operating in the United States that meet SBA size standards. Your business must demonstrate the ability to repay the loan from operating cash flow.
To start the SBA loan process, schedule an appointment through MyRMO or by calling us to speak with an Expert.