SBA Loan Programs
Hyak Financial assembles SBA 504 and 7(a) loan packages and shops the loan to find a lender willing to fund the project. Because Hyak Financial works closely with several national and local lenders, we are familiar with the funding inclination of the different banks in terms of start-ups, smaller loans and industries. As a result, Hyak Financial can efficiently pinpoint a lender most likely to fund a particular loan, which can saves the borrower significant time and money.
SBA 504 Loans
The SBA 504 loan program is designed to provide loans to borrowers looking to buy, construct or improve commercial and industrial buildings as well as buy and install heavy machinery and equipment. The 504 program allots for larger loan amounts and lower down payments than conventional loan programs and offers extended loan terms.
Designed to help small businesses buy, construct or improve commercial and industrial buildings as well as buy and install heavy machinery and equipment.
To learn more about the SBA 504 program, visit the official SBA website at https://www.sba.gov/offices/headquarters/ofa/resources/4049.
SBA 7(a) Loans
The SBA 7(a) loan program is designed to provide loans to small businesses in need of flexible underwriting guidelines, extended loan terms, and low down payments.
To learn more about the SBA 7(a) program, visit the official SBA website at https://www.sba.gov/partners/lenders/7a-loan-program/types-7a-loans