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Why choose Indymae?
Lenders may have varying guidelines for the use of funds from an SBA loan. Indymae collaborates with multiple banks, aligning you with the lender most likely to meet your specific requirements for SBA loan proceeds. Skip the hassle of navigating different banks—we simplify the process for you. An SBA loan from a bank in the Indymae network is a strategic choice to support your distinctive business objectives.
SBA use of funds
Now comes the exciting part! How can you leverage SBA loan funds to cut costs and expand your small business? There are numerous avenues to explore.
Working capital
Maintaining adequate working capital is crucial for sustaining and optimizing business operations. It serves as a key indicator of your company's liquidity, efficiency, and overall well-being. Calculating working capital is straightforward—subtract current liabilities from current assets. If current assets don't exceed liabilities, there's a risk of struggling to meet short-term creditor payments, resulting in late fees and operational challenges.
Business owners should ensure sufficient working capital to fulfill financial obligations and cover daily expenses. A low-interest, long-term SBA loan from Indymae can offer a reliable reservoir of working capital, supporting continuous business operations and growth.
Beyond day-to-day operations, working capital from an Indymae loan can be utilized to acquire additional inventory.
Examine your cash flow and business plan. Does your small business need an injection of working capital? Discover in approximately 5 minutes if you're pre-qualified for the optimal working capital loan—a low-interest, long-term SBA loan through Indymae.
Refinance debt
You can save up to thousands of dollars per month by refinancing expensive debt, redirecting that money into business investments instead of high-interest loan payments. A new loan, such as a low-rate, long-term SBA loan through Indymae, can significantly impact your company. Here's how a debt consolidation loan can serve as a valuable savings solution.
Lower Rates: Settling high-interest debt reduces the overall cost of your capital, benefiting your bank account and cash flow.
Longer Terms: Loans with longer terms result in lower monthly payments. Indymae's SBA loans have extended terms of 10 to 25 years, easing the burden on cash flow and preventing small business owners from being trapped in a cycle of borrowing.
Commercial Real Estate (CRE)
If you're an established and profitable business seeking the lowest funding costs and the longest repayment terms for buying or refinancing a property, an SBA 7(a) loan from $500,000 to $5 million from banks in the Indymae network is your best choice. With 25-year terms, interest rates between 6.25% to 7.50%, and a minimal down payment rent replacement option, these loans serve various purposes, such as refinancing an existing commercial real estate mortgage, acquiring the property your business operates from, or purchasing other owner-occupied commercial space.
To qualify for a commercial real estate SBA loan from a bank in the Indymae network, you need a minimum personal credit score of 675, at least three years in business, and $350,000 or more in annual revenue. Additionally, a minimum of 51% of the purchased property must be occupied and used by your business, with a requirement to put down at least 10%. The property serves as collateral for the loan. Applying for SBA 7(a) loans from banks in the Indymae network is typically less complex than going directly to a traditional bank, and funds can be disbursed as quickly as 30 days after completing your commercial real estate loan application.
Hire new employees
Is your business thriving, but stress levels are soaring? If you find yourself juggling multiple tasks like a pro but struggling to get everything done, the solution might be an extra pair of hands or two. An SBA loan can be your saving grace! When it's time to bring in new talent, the funds from these loans can assist in covering recruitment, salary, benefits, and other expenses related to finding and onboarding employees.
New equipment purchases
Every company requires equipment to operate smoothly, efficiently, and profitably. Whether you're involved in manufacturing, client services, or information creation, there's always a need to invest in equipment. From computers to copiers, coffee machines to vehicles, the sudden requirement for new equipment can arise at any moment. Whether upgrading an older model or acquiring new equipment to enhance business efficiency and accelerate production, securing an SBA loan offers a cost-effective way to finance significant purchases beyond the capacity of a credit card or other expensive funding options.
Increase marketing, increase revenue
Loan proceeds can be effectively utilized for marketing purposes. Marketing is indispensable for businesses of all sizes, aiding in brand building, customer attraction, and sales enhancement.
However, in times of tight cash flow, marketing expenses are often the first to be cut from budgets. Established small businesses may allocate up to 30 percent of their budget to marketing initiatives.
If your marketing budget has dwindled or is non-existent, consider financing your marketing endeavors with an SBA loan from a bank in the Indymae network, treating it as you would finance new equipment or inventory.
These loans, featuring low rates and extended terms, can unlock a realm of marketing possibilities. Whether you need direct mail collateral, social media advertising, or a new website, opting for low-cost funds with long terms ensures you enhance your marketing efforts without straining your cash flow.
The Small Business Administration emphasizes that marketing is the key to future sales and advises business owners not to neglect it. Explore an SBA loan to fuel and elevate your marketing initiatives.
Expand your business
Small business expansion extends beyond just increasing profits. If your aim is to scale up while boosting your bottom line, consider a low-cost SBA loan from a bank in the Indymae network as an excellent solution.
Numerous avenues exist for expanding your small business. Proceeds from these loans can facilitate detailed research to identify your main competitors. By delving into their target audience and product offerings, you can eliminate segments of the larger market and carve out a niche for focused expansion. Numerous small business expansion initiatives can be initiated with an SBA loan from banks in the Indymae network. Whether you require a larger location, different pricing, or new and improved marketing techniques, explore these low-cost loans.
Learn more about SBA loans
Start Here and learn more about SBA loans and how they will help your small business
Learn SBA loan guidelines and the approval process for a faster application turnaround.
Explore the present interest rates, their mechanisms, and additional fees and expenses linked to SBA loans.