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About Us

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Contact Info

  • 601 21st St, Vero Beach, FL 32960
  • (727) 513-6983
  • hello@ejnfinancial.com
  • Sunday: Closed

SBA Loan

While partially guaranteed by the government, SBA loans help business

Get Access to Working capital

while securing a low interest and long repayment term.

What is an SBA Loan?

A Small Business Administration Loan (“SBA Loan”) is a small business loan program administered by the Small Business Administration and is partially guaranteed by the government. This program works with other financial institutions to help give small businesses access to working capital that has longer terms and lower interest rates. Most businesses seeking working capital to purchase inventory, operate or expand a business can benefit from a SBA Loan.

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What types of SBA loans does EJN Financial offer, and what are their typical uses?

EJN Financial offers various SBA loan programs, including:

  • SBA 7(a) Loans: Ideal for working capital, equipment purchases, and business expansion.

  • SBA 504 Loans: Designed for purchasing commercial real estate or significant fixed assets.

  • SBA Microloans: Suitable for smaller funding needs, such as starting a business or purchasing inventory.

These loans provide small businesses with access to capital featuring longer terms and lower interest rates, facilitating growth and operational needs.

Advantages:

  • Government-Backed: Partially guaranteed by the government, reducing lender risk.

  • Lower Interest Rates: More affordable financing options for small businesses.

  • Longer Repayment Terms: Extended periods to repay the loan, easing cash flow.

Disadvantages:

  • Strict Application Process: More stringent requirements and documentation compared to other loans.

  • Collateral Requirements: May necessitate personal or business assets as security.

  • Longer Funding Time: Typically takes 30-45 days to receive funds.

Yes, businesses can apply for multiple SBA loans, provided they meet the eligibility criteria and have maintained good standing on existing loans. For instance, if a business has an SBA 7(a) loan, it may still qualify for an SBA 504 loan for different purposes, such as purchasing real estate. EJN Financial can assist in evaluating your business needs and determining suitable loan combinations.

The process involves three main steps:

  1. Prequalify Online: Submit basic business information through EJN Financial’s online application.

  2. Get Approved: The underwriting team reviews your application and discusses available options.

  3. Get Funded: Upon approval and acceptance, funds are deposited directly into your business bank account.

This streamlined approach focuses on the overall health of your business rather than solely on credit scores.

EJN Financial caters to a diverse range of industries, including:

  • Service and Franchise Businesses: Such as insurance agencies, accounting firms, and consulting businesses.

  • Manufacturing and Wholesale Businesses: Needing capital for inventory and equipment.

  • Real Estate Businesses: Including construction, development, and property management.

  • Retail and Online Businesses: Requiring funds for inventory and marketing.

  • Agriculture and Food Businesses: Seeking to invest in sustainable farming practices.

These businesses benefit from SBA loans’ favorable terms to support growth and operational needs.