SBA LOAN INFORMATION

Petra Mutual Holdings, LLC is a nationally recognized company helping entrepreneurs achieve their business goals. We have been designated as a Preferred Financial services company by SBA lenders to have loans processed more quickly and efficiently than many others.

There are number of advantages to an SBA loan, including longer terms, no points and no balloon payments.

Who is Eligible for an SBA Loan?

Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers, wholesale, retail and service businesses as well as independent or franchise businesses.

Loan Qualifications

• Retail and service businesses with sales (3-year average) not exceeding $6 million to $20 million, depending on the industry
• Wholesale businesses with employees up to 100 regardless of sales volume
• Manufacturers with employees up to 500 depending on the industry, regardless of sales volume

SBA 7(A) Loan Size $25,000 to $2.0 million

Loan Fees

• Fee is based on loan size, it is collected at the time of loan submission; refunded if declined by credit
• Fee can be financed in the loan

Use of Proceeds

• Commercial real estate (purchases, construction, or refinance)
• Leasehold improvements