SBA Loan Programs
The Small Business Administration offers loan guarantee programs to help small businesses obtain financing. Spear Consultants specializes in the 7(a) Loan Program, the SBA's primary program for providing financial assistance.
7(a) Loan Program
Purpose
Provides financial help for businesses with special requirements, offering loan guarantees to lenders to reduce their risk.
Benefits
- Competitive interest rates (5% - 10%)
- Longer terms (up to 25 years for real estate)
- Lower down payments
- No balloon payments
- Flexible overhead requirements
Eligibility
- For-profit business
- Meets SBA size standards
- Operates in the U.S.
- Owner has invested equity
- Demonstrated need for the loan
Spear Consultants' Role
- Determine eligibility
- Prepare loan application
- Develop business plan
- Financial projections
- Coordinate with lenders
Why Choose SBA Financing?
SBA loans are an excellent option for golf courses, recreational facilities, and small businesses that may not qualify for conventional financing. These loans offer:
- Lower down payments than conventional loans
- Longer repayment terms, improving cash flow
- More flexible underwriting standards
- Competitive interest rates
Spear Consultants has extensive experience helping clients navigate the SBA loan process, particularly for golf course acquisitions, renovations, and expansions.