Business and SBA Loans

Encore' Worldwide Financial is a loan broker that specializes in U.S. Small Business Administration (SBA) loans and Commercial loans. Our lenders are Certified and Preferred Lenders under the SBA 7a program which means quick turn around and loan funding. Working with us is like submitting your SBA loan application to several financial institutions simultaneously which greatly increases your chances of getting your loan approved and funded. Additionally, we also have lenders that special in hard to place credit both secured and unsecured.

Why Should a Business Owner consider an SBA loan?

The SBA Loan benefits to a business include both longer terms and larger loan amounts than may be available through a commercial bank. SBA Loan interest rates are competitive with conventional loan rates. Also, all SBA loans are fully amortized and never have balloon payments, prepayment penalties or annual reviews. Many business owners find cash flow to be a major concern. For them an SBA guaranteed loan may be the answer and possibly the best way of obtaining long term financing. SBA guaranteed loan terms typically range from 7 to 25 years, fully amortized, depending on the purpose of the loan. Under its Congressional mandate, the SBA assists the nation's small businesses through a number of programs and efforts. The SBA helps new or growing businesses meet their financial needs and through its work this agency helps to preserve the nation's free enterprise system and to strengthen the economy.

The SBA offers two types of loans: Direct Loans and Guaranteed Loans. Direct Loans are loans directly made and funded by the SBA to the applicant with no bank involvement. These loans were popular in the early stages of the agency but funding for direct loans has almost dried up due to unsuccessful results of the program.

Direct loans are still made under special circumstances, such as natural disasters, but are no longer common. For our purposes, Guaranteed Loans are far more pertinent. Guaranteed loans are made by private lenders, such as banks, thrifts, savings & loans, etc., but are guaranteed by the SBA with funds appropriated by Congress. The funds appropriated for purposes of guarantee are much larger than those appropriated for direct loans. Therefore, the majority of SBA loans are guaranteed loans. Annually the SBA guarantees over $10 billion through these types of loans.

We are SBA loan specialists