Established businesses with tax returns that show good revenues and profitability can get very large sums of funding with Secured Small Business Loans.
If you have positive business tax returns, you should apply for secured government-backed SBA program loans from $250K up to $12,000,000. SBA offers several programs including 504 and 7a loan programs for which you may qualify.
SBA programs can be used for many purposes including purchasing a new business, partner buy outs, real estate acquisition, and even working capital.
SBA will require certain documentation to qualify including business and personal financials, resume and background information, personal and business credit reports, a business plan, bank statements, collateral, and other documentation relevant to the transaction.
Approval amounts will vary based on the collateral your business has and the amount of net profit reflected on your tax returns. The total time to close these loans is approximately 2-4 months.
Low Interest & Long Term Business Financing
SBA loans offer some of the longest payback terms available for business financing. You can secure loans for 10, 15, even 20 years with SBA. Plus in many cases interest rates are as low as 5-6% on the financing you secure.