What are SBA Loans?

SBA 504 & 7(a)

SBA 504 Loans: Designed for long-term, fixed-rate financing, SBA 504 loans are ideal for purchasing or refinancing major fixed assets such as real estate or equipment. These loans are structured with two components: a loan from a Certified Development Company (CDC) covering up to 40% of the project cost, and a traditional lender covering up to 50%. The remaining 10% is typically covered by the borrower.

SBA 7(a) Loans: The SBA 7(a) loan program is the most versatile and widely used SBA loan option, offering financing for a variety of business purposes, including working capital, equipment purchase, business acquisition, and more. SBA 7(a) loans provide flexible terms and can be used for short-term or long-term working capital, refinancing business debt, or purchasing furniture and fixtures.

Benefits of SBA Loans

Lower Down Payments: SBA loans typically require lower down payments, making it easier for businesses to conserve cash for other needs

Longer Repayment Terms: Enjoy extended repayment terms, often up to 25 years for real estate, which can help reduce monthly payments and improve cash flow.

Fixed and Variable Rate Options: Choose from fixed or variable interest rates, depending on your business's financial strategy and market conditions.

Access to Capital for Various Needs: Use the funds for a wide range of purposes, including real estate acquisition, equipment purchase, working capital, and more.

WHY CHOOSE US

What We Offer To You

Welcome to Las Vegas Mortgage, where we specialize in providing comprehensive financing solutions for small businesses through our SBA 504 and 7(a) loan programs. Whether you're looking to purchase commercial real estate, expand your business, or acquire essential equipment, our SBA loan specialists are here to help you secure the funding you need with favorable terms and competitive rates.

Expertise in SBA Lending

Our team at Las Vegas Mortgage has extensive experience in SBA lending, helping businesses navigate the complex application process and secure the financing they need. We provide expert guidance tailored to your business's unique needs

Personalized Service

Every borrower is unique. I take the time to understand your specific needs and financial goals to provide customized loan solutions.

Seamless Process

From pre-qualification to closing, I handle all the details, making your home buying journey smooth and hassle-free.

Commitment to Clients

Your satisfaction is my top priority. I am dedicated to providing transparent, honest, and responsive service throughout the entire loan process.

Comprehensive Loan Solutions

We offer a wide range of SBA loan options, including SBA 504 and 7(a) loans, to meet the diverse financing needs of small businesses. Whether you're looking to expand, acquire property, or invest in new equipment, we have the right solution for you.

Competitive Rates and Terms

Our SBA loan programs offer competitive interest rates, longer repayment terms, and lower down payments compared to conventional loans, making it easier for businesses to manage cash flow and invest in growth

WHAT’S THE BEST

Mortgage Programs

At Las Vegas Mortgage, we offer a variety of mortgage programs tailored to meet your unique financial situation and goals. Whether you're a first-time homebuyer, a seasoned investor, or somewhere in between, we have the perfect loan solution for you.

Specific Programs

FHA Loans: Ideal for those with lower credit scores or limited down payment funds.
Conventional Loans: Flexible options with competitive rates for a range of borrowers.
USDA Loans: Great for rural property buyers, offering zero down payment.
VA Loans: Exclusive benefits for veterans and active-duty military members.
DSCR Loans: Perfect for real estate investors focusing on cash flow properties.
Bank Statement Loans: Designed for self-employed borrowers who need to show income differently.
ITIN Loans: Accessible options for those without a Social Security number.
Foreign National Loans: Financing solutions for non-U.S. citizens.
Fix and Flip Loans: Short-term financing for property renovation and resale.
Cannabis Industry Loans: Tailored loan options for professionals in the cannabis sector.
1099 Loans: Options for independent contractors and freelancers with 1099 income.
Private Money Loans: Quick and flexible funding for unique situations or investments.

OUR TEAM

Our Staff Profiles

KeVIN SCHANDA

SENIOR LOAN ADVISOR

NMLS 93971

JONATHAN FESSER

LOAN ADVISOR

NMLS 2225687

BONNIE CLOCKEL

LOAN ADVISOR

NMLS 1906508

Frequently Asked Questions

What is the difference between SBA 504 and 7(a) loans?

SBA 504 loans are specifically designed for purchasing or refinancing fixed assets like real estate or equipment. They offer long-term, fixed-rate financing. In contrast, SBA 7(a) loans are more versatile and can be used for a wide range of business purposes, including working capital, equipment purchase, business acquisition, and refinancing debt. SBA 7(a) loans offer both fixed and variable interest rates.

Who is eligible for SBA 504 and 7(a) loans?

To be eligible for SBA 504 and 7(a) loans, businesses must meet certain criteria, including being a for-profit entity, operating in the United States, having a tangible net worth of less than $15 million, and having an average net income of less than $5 million after federal income taxes for the preceding two years. Additionally, businesses must demonstrate a need for the loan and the ability to repay.

What is the down payment requirement for SBA 504 and 7(a) loans?

The down payment requirement for SBA 504 loans is typically 10% of the total project cost, though it can be higher (up to 20%) if the business is a startup or the property is considered special-purpose. SBA 7(a) loans generally require a down payment or equity injection of 10% to 20%, depending on the specific use of the funds and the lender's policies

What can SBA 504 and 7(a) loans be used for?

SBA 504 loans can be used for purchasing or improving commercial real estate, acquiring machinery or equipment, and refinancing debt associated with business expansion through new or improved facilities. SBA 7(a) loans have broader uses, including working capital, purchasing inventory, equipment, or furniture, refinancing business debt, and funding business acquisitions or expansion

What are the typical loan terms and interest rates for SBA loans?

SBA 504 loans typically offer terms of 10, 20, or 25 years with fixed interest rates. SBA 7(a) loans can have terms up to 25 years for real estate and equipment and up to 10 years for working capital. Interest rates for 7(a) loans can be fixed or variable, while 504 loans usually have fixed rates. The specific rates depend on the lender and the market conditions