SBA Guaranty Fee Incentives Updated thru 9-30-2024
SBA Guaranty Fee Incentives Updated thru 9-30-2024!
The U.S. Small Business Administration has reduced fees again for fiscal year October 1, 2023 through September 2024.
>We apologize for not posting this update earlier! One of our lenders noted that customers may think we have not been making loans since then, not true, but understandable since this post was neglected.
The highlight is that for SBA 7(a) loans of $1,000,000 and less, there is No SBA Guaranty Fee. The complete schedule follows. We have constructed formulas to quickly calculate the complex fees over $1,000,000 as you see, so you can call and we can tell you what it is.
Updated SBA Fee Schedule
No SBA Fee for loans of $1,000,000 ($1MM) or less
Loans of $1,000,001 to $2,000,000: 1.45% of the guaranteed portion (75%) up to $1MM + 3.75% of the guaranty over $1MM.
Loans of $2,000,001 and greater: 3.5% of the guaranteed portion up to $1MM + 3.75% of the guaranty over $1MM.
This eliminates SBA Fees for most of the loans Coffman Capital helps with, since we work with smaller loans for borrowers, unlike many lenders that have fairly large minimum loans.
>>NO FEE TO COFFMAN CAPITAL UNLESS LOAN CLOSES<<
This has never changed, and we want you to know we don’t collect up-front deposits from any customers. Lenders do as part of the process and we can explain that when you call.
Other Great Features of SBA Loans Offered through Coffman Capital:
>Loans for Business Acquisition & Business Real Estate
>Lowest Cash Injections Possible – SBA may allow ZERO injection in some cases, so we find the lenders with best options using the SBA guidelines!
>No Minimum Collateral required, while many lend only with “sufficient asset coverage”. Available Collateral is used as SBA requires, but we don’t need it for you to qualify.
>Business Acquisition Loans include Working Capital and may include New Equipment if needed. >Loan Closing Costs are financed as part of the project. We send you an invoice after closing, so it is ostensibly included in working capital.
We structure your loan the best way possible because each situation is different. We also qualify some customers that others cannot – so call and see what we can do for you!
Please complete the Loan Inquiry Form and we’ll get right back to you! Thanks for choosing Coffman Capital for your Practice Financing!