Find Easy Business Finance in NJ
Looking for an SBA loan broker in NJ? Look no further because Metro Business Solutions & Finance Corp is a U.S based company that deals in both secured and unsecured loans. With years of industry experience, they offer quality services and try to give you the best offers on your loans. They help u get your loan application approved by any one of their lending partners.
Their vision is to help as many people as possible to get their loan of choice approved. Be it an SBA loan or C & I Business Loans (Commercial & Industrial) etc their process is very simple. In fact, they are on a mission to provide small businesses with the best type of funding for every project or capital need. The technology that they use for this simplifies business financing and makes it easy to access.
What makes them truly stand apart as the best SBA loan broker in NJ is the fact that
They process numbers from all banks and associations and help their customers arrive at a decision.
They guarantee analysis of loan amount, instant loan approval, and fast disbursement.
Their loan accepting procedure is completely paperless.
Their goal is to separate the loan-taking procedure from what is practiced by banks.
SBA’s 7(a) Loan Program, is SBA’s most common loan program which includes financial help for businesses with special requirements. The 7(a) loan program is the SBA’s primary method of assisting small businesses in the U.S. While applying for an SBA 7(a) loan you tend to work with a lender. SBA plays a role in the transaction by guaranteeing a portion of the loan amount.
This kind of guarantee or assurance from a government agency helps small businesses acquire funds even when they may not have otherwise qualified for a business loan. According to the SBA, eligibility for the loan is based on factors like how the company earns its revenue, the background of its owners, and where it operates. There are also some basic requirements to be eligible for assistance.
To qualify firstly the size of your business has to be small i.e your business must have fewer than 500 employees. Your yearly revenue must have been less than $7.5 million on average for the last three years. Your net income must be under $5 million (after taxes and not counting carry-over losses), and your tangible net worth must be less than $15 million. These are some of the basic requirements that you need to fulfill to qualify for an SBA7(a) loan.
The SBA loans broker in NJ lists nine different kinds of 7(a) loans on its website. And each of these loans is designed to meet different needs. The types of loans are Standard 7(a), 7(a) Small Loan, SBA Express, Export Express Export Working Capital, International Trade, Veterans Advantage, CAPLines. On average an SBA 7(a) loan takes five to ten business days to be processed, but every case is unique. And for those in a hurry, there is the SBA Express loan which has an accelerated turnaround time of 36 hours.
Also, Read: Types of SBA 7(a) Loans