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SmartBiz SBA Loans
Would you recommend SmartBiz SBA Loans to your friends?
Community Rating | Mostly not recommended |
Loan Amount | $30,000 - $5,000,000 |
APR (Fixed APR) | 6.36% - 9.75% |
Loan Term (Months) | Up to 300 months |
Number of Reviews | 8 |
SmartBiz SBA Loans Review
SmartBiz is a business financing offering by SmartBiz, based in San Francisco, CA. Founded in 2009, SmartBiz offers access to small business loans in 50 states (and Washington, DC).
SmartBiz FAQ
What are SmartBiz’s rates?
SmartBiz offers a fixed APR business financing product that ranges from 6.36% APR up to 9.75% APR.
Does SmartBiz charge an origination fee?
Yes, SmartBiz charges a loan origination fee starting at 2% of the business loan amount. SmartBiz deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does SmartBiz set on the purpose of the business loan?
SmartBiz considers business loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of small business loans does SmartBiz offer?
Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. SmartBiz provides access to the following business loan types:
- SBA Loans
Does SmartBiz charge prepayment fees?
No, SmartBiz does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.
How much can you borrow from SmartBiz?
Business loan amounts start at $30,000 and go up to $5,000,000.
What is the maximum business loan term you can get with SmartBiz?
SmartBiz offers small business loans with a maximum term of 300 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for SmartBiz SBA Loans?
SmartBiz SBA Loans requires companies to be in business for at least 24 months. Businesses must have a minimum annual revenue of $50,000 to be considered.
Applicants with a credit score that ranges from 560 may be eligible for SmartBiz SBA Loans.U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by SmartBiz SBA Loans.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
What is the estimated funding time for a business loan via SmartBiz?
SmartBiz can approve (or deny) a business loan application within 24 hours and fund small business loans within 7 business days of approval.
Message From Our Editor
Contact
- Headquarters
-
417 Montgomery Street
San Francisco, CA 94104 USA - (866) 283-8726
- Visit Site
- Email Support
Other Services by SmartBiz
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
No Prepayment Fee | |
Origination Fee (%) | Starting at 2% |
SmartBiz SBA Loans Community Reviews
Would you recommend SmartBiz SBA Loans to your friends?
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