The SBA 7(a) loan is a financing program backed by the Small Business Administration, designed to help businesses secure funds when they might not qualify for traditional loans. My Credit Genius specializes in guiding businesses through the application process, ensuring they meet the requirements and stand the best chance of approval.
Businesses operating for profit in the U.S., which have invested their own resources and are unable to secure funding elsewhere, are typically eligible. My Credit Genius works with both startups and existing businesses, tailoring our approach based on your unique business type and financials.
Funds can support a variety of business purposes, including starting a new venture, business expansion, debt refinancing, and purchasing equipment or property. My Credit Genius can help you navigate how best to utilize these funds for optimal business growth.
You can borrow up to $5 million through the SBA 7(a) program, with the exact amount dependent on your business’s financials and collateral. My Credit Genius will work with you to determine the specifics of your loan based on your project and business needs.
Loan terms vary, extending up to 7 years for working capital and 25 years for real estate. Interest rates are often influenced by the prime rate but can vary based on the lender. My Credit Genius will help you understand the specifics of your loan, ensuring you get the best possible rates and terms.
Beyond SBA loans, My Credit Genius offers a range of financing solutions including term loans, invoice factoring, and business credit cards. Each option caters to different business needs, and our experts can help determine the best choice for your situation.
Term loans provide a lump sum of capital upfront, with fixed repayment terms. My Credit Genius can assist in securing competitive rates and terms that align with your business’s financial health and goals.
Yes, we offer invoice factoring services, allowing you to unlock capital tied up in unpaid invoices. This can provide a quick and effective cash flow solution for your business.
Business credit cards can be a flexible financing option, particularly for smaller, recurring expenses. My Credit Genius can help you find cards with favorable terms and rewards programs suited to your business needs.
Our team of experts conducts a thorough analysis of your business’s financial situation, goals, and needs. Based on this, we provide tailored recommendations to ensure you choose the financing solution that best suits your business.
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