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SBA Small Business Loans for Minorities |
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Re: sba small business loans for minorities
Many financing products get marketed as a small business loan for minorities. One of the most affordable financing options for a minority owned business is an SBA loan. Three best loans for minority owned businesses are: SBA Loans CDFI Loan Traditional Bank Loan SBA Loans for Minority Owned Businesses: SBA 7a Loans Loan Amounts $30,000 - $5,000,000 Annual Gross Revenue Requirements $120,000+ Credit Score 680+ Time in Business Requirement 2+ Years Funding Time 3+ weeks Average APR Range 6.1% - 9.21% Payback Time Period 10 Years for Working Capital 25 Years for Commercial Real Estate Benefits of SBA Loans for Minorities: Lowest Cost Low Collateral Long Repayment Terms CDFI Small Business Loans for Minorities: Examples of Common CDFI Small Business Loans: Microloans Alternative Loans Commercial Real Estate Loans Loan Amounts Up to $50,000 Up To $100,000 $250,000 - $10,000,000 $10,000,000 Loan Terms Up to 6 Years Up to 5 years Up to 30 Years APR 8% - 13% 13% - 23% 6% - 9% |
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