SBA Loan Program
Longer terms, no balloon payments
We work with SBA lenders who are Preferred Financial Service companies to have loans processed more quickly and efficiently than many others.
There are a 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.
SBA 7(A) Loan Size $150,000 to $5.0 million
Loan Qualifications
- Retail and service businesses in business for at least 2 years
- 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
Use of Proceeds
- Commercial real estate (purchases, construction, or refinance)
- Leasehold improvements
- Business expansions
- Machinery, equipment, furniture or fixtures
- Business acquisition
- Working capital (offered in conjunction with some of the above)
- Start-ups (ALL Franchises, Motels, Restaurants Gas Stations and C-Stores)
Other Credits Considerations
- Business must have adequate historic cash flow to cover the proposed debt
- Business debt to net worth must meet industry averages
- Borrowers must be actively involved in the day-to-day operation of the business
- Satisfactory personal credit histories are required for all principles and guarantors
- No past bankruptcies or felony arrests
VA250 Commemorative Partnership
EFA Heritage Business Financing is proud to be a Commemorative Partner of VA250 - Virginia's American Revolution 250 Commission. Of the thirteen original colonies, none played as fundamental a role as Virginia in the formation of our country. From the ideas that inspired it, to the battlefields that decided it, there is simply no America without it. As we mark 250 years of Independence, now is the perfect time for you to reconnect with your country in the place that made it possible. Please join us at VA250.org.
