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Refinancing Loan

Get the capital your business needs in less
than 24 hours.

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SBA 7(a) Refinancing Loan Overview

Average Loan Amount

$300K - $5M

&

Loan Term?

10 - 25 Years

How Does Refinancing with SBA 7(a) Work?

An existing SBA loan at a prime rate of +2.5% or higher can be refinanced into another SBA loan at a lower rate. With SBA refinancing, your business can have lower monthly payments and also access capital for expansion and growth.

 

The SBA reviews that the original debt was used strictly for business purposes. They must determine if refinancing the debt would provide a meaningful benefit; you have to be current on payments, and the original debt can not have unreasonable payments. If you qualify, the new SBA 7(a) Loan would pay off the existing debt directly.

How to Apply for an SBA loan

STEP 1

Get Pre-qualified

To get pre-qualified for an SBA loan, click the "Apply Now" button and enter general information about your business.

STEP 2

Gather your Documents

Once pre-qualified, you will need to gather your bank statements, profit and loss statements, balance sheet, and any additional paperwork. 

STEP 3

SBA Review

The SBA will conduct its own review of the application and will issue a commitment letter outlining the terms of the loan once they have approved your application.

STEP 4

Receive Funding

Once approved and the offer is accepted, the funds will be directly deposited into your bank account, allowing you immediate access to capital

Documentation and Qualifications for SBA Loans 

Documentation Needed:

  • Application

  • 3 Months Business Bank Statements

  • 3 Years Business Tax Returns

  • 3 Years Personal Tax Returns

  • Business Profit & Loss Statements

  • Business Balance Sheet

*Additional documentation maybe required

Qualifications:

  • $100,000 minimum annual revenue

  • 3+ years in business

  • 650+ credit score

  • 145+ Business Score

  • No Bankruptcies, Outstanding Liens or Judgements

Frequently asked questions

Key Features of SBA 7(a) Refinancing

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Receive the working capital your business needs to grow and expand.

Obtain Working Capital

Reduced Monthly Payments

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Lower monthly payments to improve cash flow

Debt Consolidation

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Combines multiple debts on lender offerings into one for easier payments.

Improved Cash Flow

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Lower monthly payments free up working capital.

Gain Real Estate

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Gain the stability of a fixed location, avoid rent increases, and receive tax benefits with equity appreciation.

Maintain Cash Reserves

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Purchase an existing business with $0 down and preserve cash flow.

Extended Loan Terms

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Enjoy lower payments with loan terms from 10 to 25 years and SBA-backed interest rates.

Reduced Risk

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An established business comes with a proven track record, allowing you to evaluate its potential and risks with greater confidence before buying.

Grow your business on 
your terms.

Financial advisors are here to help you navigate the funding process.

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Studies About Businesses Like Yours

Our representatives share stories of businesses they've helped secure funding for and discuss the lasting impact on their growth and future.

Case Study

Reason: Business Expansion
Funding Amount: $500,000
Approval: $500,000
Industry: Dental Practice
Use of Funds: Business Expansion
Program Type: SBA

Case Study

Reason: Additional Funds
Funding Amount: $150,000
Approval: $150,000 
Industry: Architecture
Use of Funds: Growth Stability
Program Type: SBA

Case Study

Reason: Additional Funds
Funding Amount: $100,000
Approval Amount: $165,000
Industry: Hospitality
Use of Funds: Working Capital

Program Type: Working Capital

Here's what other  business owners are saying...

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