US Business Funding facilitates SBA loans, which receive backing from the federal agency — reducing the risk to lenders and enabling them to extend financing at lower rates.
US Business Funding offers 2 types of SBA loans:
- 7(a) loans, SBA’s main type of financing, which have an interest rate that can’t exceed a maximum set by the SBA
- 7(a) Express loans, which are similar to 7(a) loans but get processed faster
The funding can be used for a variety of purposes, including:
- Covering working capital
- Buying equipment
- Purchasing real estate
- Refinancing debt
US Business Funding SBA loans feature:
- Loans of up to $150,000
- Credit lines of up to $2 million
US Business Funding’s website doesn’t directly disclose interest rates. Instead, the site features an online calculator that provides examples of estimated repayment terms where a strong credit rating is assumed.
For example, if you want a loan for $10,000 to refinance debt, the calculator returns $221 a week for 52 weeks, equivalent to repaying $11,880, or 14.92%. If you change the amount to $2 million for refinancing debt, the payments change to $44,231 a week for 52 weeks, or $2,300,012, roughly 15%.
A note below the calculator stresses these rates “assume a strong credit rating.” If you have a low credit rating, your rates may be higher.
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