Voyage is now part of the Small Business Administration (SBA)
Posted Jun 01, 2016
Voyage is now proud to be a part of the Small Business Administration (SBA) . The SBA helps Americans start, build, and grow businesses by utilizing an extensive network of field offices and partnerships between public and private organizations. The SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam. For more information, please contact our Business Service Officer, Peter at 605.977.5743 or email at firstname.lastname@example.org.
Here are some advantages to SBA Lending:
Advantages to Voyage:
- SBA Loans carry up to a 90% guarantee (loss share agreement) which helps mitigate the risks of some borrowers who we might not otherwise be able toapprove a loan for. If the loan were to go bad, the SBA would cover up to 90% of the losses.
- The SBA frees up capital for us to make more loans. The guaranteed portion of SBA loans does not count against our total Member Business Lending cap (about $11 million dollars).
- We can sell the guaranteed portion of the loan in the secondary market.
Advantages to Members:
- Loans that members were not able to get previously due to various reasons may now be able to get financing.
- Lower down payments, up to 90% financing.
- With SBA Express: Streamlined process, quick turn around and decision making.
- Allows us to do loans from $25,000 to $11.25 million dollars.
- Longer repayment terms than what is available conventionally, up to 25 years which improves cash flow.
- No balloon payments
- Fixed and variable rate options
- Most for-profit small businesses are eligible.
- Funds can be used for a variety of reasons, commercial real estate purchase, business acquisition or expansion, construction, equipment, inventory or working capital, debt refinancing.
For more information, please contact our Business Service Officer, Peter at 605.977.5743 or email at email@example.com.