SBA Loans

SBA Loans

We have been designated as a Preferred Financial Services company by SBA lenders 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.

SBA Loan Program.

We have been designated as a Preferred Financial Services company by SBA lenders 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.

Loan Qualifications
  • Retail and service businesses with sales (3-year average) not exceeding $6 million to $20 million, depending on the industry

  • 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

SBA 7(A) Loan Size $150,000 to $2.0 million

Loan Fees
  • Loan packaging fee: $750 to $2,000

  • Fee is based on loan size, it is collected at the time of loan submission; refunded if declined by credit

  • SBA guaranty fee: 1.70% to 2.60% of the loan amount

  • Fee can be financed in the loan

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

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Loans made pursuant to Department of Business Oversight California Finance Lenders Law License, License 60DBO-4553. 

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Diamond Business Loans, LLC, Financing, Beverly Hills, CA

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