FAQ

Exactly what kind of company is Business Lenders?

We're a leading non-bank SBA lender. Our staff includes experts in SBA lending who make loans to small and mid-sized businesses all across the country.

What kind of loans does Business Lenders offer?

Long-term loans (seven to 25 years) to meet the financing needs of growing businesses. We offer both SBA and we lend up to a maximum of $5 million.

Why is Business Lenders a better bet for me than a bank?

Since we're non-bank lenders, our hands aren't tied by the umpteen regulatory constraints that bankers face. So we can be far more flexible about terms as well as credit history. Also, since we specialize in loans through the Small Business Administration (SBA), we have earned preferred lender status. That means your SBA loan will be approved and processed faster through us than just about anywhere else.

Why should I apply for a loan?

The following reasons are the most common: Buying or renovating your building, purchasing new equipment, increasing inventory, expanding your workforce, venturing into new markets, refinancing existing debt to improve cash flow.

Who are your customers?

They range from franchisees to family-owned small and mid-sized businesses in just about every category -- manufacturing, retail, hospitality, service, restaurants, mail order, start-ups. Since SBA guidelines restrict real estate loans to properties occupied by business owners, we can't finance strip shopping centers, multi-family apartments or investment property.

What are you looking for in a borrower?

Three main strengths. First, we take your personal strengths into consideration -- experience, skills, and commitment. Second we want to make sure your business generates enough cash flow to handle the debt. Finally, we assess whether your assets are sufficient collateral for the loan you're requesting.

Is the application process complicated?

Actually, no. The process is not much different than applying for any other type of commercial loan. To get you an answer, we'll need to see just three consecutive years of tax returns plus a personal financial statement. If you're a start-up, we'll need to see projections and a business plan. Usually, you hear from us within three business days.