SBA and USDA Loans

Is a Small Business Administration Loan Right for Your Business?

Small Business Administration loans are an amazing tool for business owners, helping to invest in countless essentials for a healthy bottom line.  SBA financing can assist you with those essential purchases to grow your business:

  • Real estate

  • Expansion and remodeling

  • Office or diagnostic equipment

  • Heavy machinery

  • Inventory

With so many possibilities, a small business loan can be one of the most important factors to ensure healthy cash flow and profitability.  At Cumberland Financial, we make it as easy as possible for small businesses to qualify for financing.

What Are the Requirements for SBA Financing?

The principal requirement for approval has to do with the size of your business.  As long as your company has the right amount of employees to fit the Small Business Administration’s definition of a small business, it meets the main criteria.

We also look at how your company is managed.  You don’t need perfect credit or decades in business.  Instead, we look for an owner who understands how to use capital for business growth.  If you have a history of regularly paying off your debts—even if your credit history isn’t perfect—and making smart financial decisions, you’ll very likely qualify for SBA financing.

How Long Does Approval Take?

The process of getting approved varies depending on your company’s financial records, but many businesses can get prequalified in a matter of days or a week.  Once approved, you’ll be able to get a small business loan with a longer repayment schedule and manageable payment amounts, along with a competitive and fixed interest rate.

We have experience working with both SBA 7(a) and 504 loan programs, giving your business many options for expansion.  For example, if you want to pair real estate financing with funding for equipment or working capital, our team can help.  To learn about all the options available with our small business loan program, contact us today.


Does Your Business Qualify for a USDA B&I Loan?

The US Department of Agriculture Business and Industries Loan Program is a Federal loan guarantee program designed to assist businesses in providing stability, growth, expansion, and employment in rural areas.  Examples of USDA B&I loan purposes include:

  • Business and industrial acquisitions, construction, conversion, expansion, repair, and modernization

  • Purchase of equipment, machinery, or supplies

  • Purchase or development of land

  • Start-up costs and working capital

  • Pollution control and reduction

USDA B&I loans are typically available in rural areas, defined as any area other than a city or town with a population of greater than 50,000 inhabitants.

Contact a Cumberland Financial associate today for assistance with navigating the loan process for government-backed loans.