SBA Loans

SBA 7a & 504 Loans in 60007

Give Your Business a Boost With SBA Loans

sbaMost businesses are eligible for funding throughEDM Capital’s Small Business Loan Program. As a Small Business Administration Preferred Financial services company, we can process your application and loan in minimal time.

General Terms

Our financing supports real estate purchases, construction, renovation, and refinancing. Eligible properties include single-purpose buildings, gas stations, restaurants, hotels, repair shops, and veterinary clinics. Available loans include:

  • Business acquisition. Receive up to $1.25 million annually or 80 percent of total financing with 15-year terms. Loans feature full amortization, without early pay-off penalties, and 2-day prequalification.
  • Equipment financing. Acceptable equipment includes printing and binding, machine tools, manufacturing, trucking, medical, and laundry.
  • General loans. We offer up to $5 million with free pre-qualification, low rates, full amortization, and no early pay-off penalties. You can get up to 90 percent financing for 25 years, with fixed or variable rates.

Through the Small Business Administration guaranteed loan programs, we offer both 7(a) and 504 loans.

7(a) Loans

Most for-profit businesses qualify for 7(a) loans. Eligible properties include those previously mentioned, offices, warehouses, industrial, manufacturing, childcare, shops, professional buildings, franchises, bed and breakfasts, and start-ups. Business size dictates eligibility. The SBA funds retailers with annual sales under $6,000,000, manufacturers with fewer than 500 employees, or service businesses employing less than 100 workers.

We offer up to 90 percent financing for real estate transactions, 80 percent financing for business acquisition, and full financing for equipment acquisition or refinancing. Terms are 25 years for real estate, 10 years for business and equipment acquisition, and 7 years for working capital. Rates are market-competitive, and fees include closing and guaranty fees.

504 Loans

504 loans can cover 90 percent of real estate deals or 80 percent of equipment acquisition costs. Total financing can reach $12,000,000. We provide between $100,000 and $3,000,000 for up to half of the total loan. A Community Development Company provides the remainder with a second mortgage of $100,000 to $5,000,000.

Our mortgages have 25- and 15-year terms for real estate transactions and equipment acquisition, respectively, with fixed or variable rates. Second mortgages have 20- and 15-year terms for real estate financing and equipment acquisition. Second mortgages have fixed fees of 2.75 percent, plus legal review, closing, construction loan, and bridge fees.

Learn More

Do you have questions about our SBA loan programs, or are you ready to learn what your business qualifies for? Get started by contacting EDM Capital today.