Conventional v. SBA
Get Pre-Approved(Within 48 hours)Advisory loans can be funded utilizing an SBA or conventional structure. There are advantages and disadvantages inherent in SBA and conventional lending.
Conventional Loans (non-SBA)
- Higher loan amount minimums around $750,000
- Fixed rates for entire loan term
- No liens on your home or other personal property required
- Approximately 27 documents from borrower required to close
- Flexibility allows customization for borrower
- Pre-Payment penalties: Typically, 3%, 2%, 1% over the first three years of the loan term
SBA Loans
- Lower loan amounts ($350,000) accepted
- Predominately variable rates for entire loan term
- Liens placed on your home or other personal property may be required
- Approximately 150 documents from borrower required to close
- Rigid SBA guidelines precludes partial practice sale
- Sellers required to depart the business entirely within 12 months
- No Pre-Payment penalties
SkyView Partners'
Standard Loan Structure *
*The above constitutes a proposal and is not a commitment to lend. The fee, rate, terms, and conditions are for informational purposes only and will require formal credit underwriting and approval.