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    3 Replies Latest reply on Jun 29, 2008 9:03 PM by Mark SLF

    $175K SBA loan

    redcyclist Newbie
      We are a 3.5 year old retail bicycle shop business that is growing and also has a growing inventory
      that we have been financing with credit cards. Looking to refinace this debt for 3 years and help our
      cash flow. Is an SBA loan a good fit for us?
        • Re: $175K SBA loan
          mlebovits Newbie

          Refinancing credit card with an SBA loan can be challenging. You may have to show receipts for your expenditures and prove that all of the credit card debt was incurred as business debt. If you incurred these business charges on a personal credit card, it could be more difficult.

           

          • Re: $175K SBA loan
            Mark SLF Wayfarer
            An SBA Loan would be tough as a re-finance on credit cards. I may be able to help you with a Fast Cash Business Loan, but only over one year.
            The program allows for up to $100K per location. It is not a credit card advance but a real loan.
            Rates about 1/3 of a merchant cash advance. Plus as you pay down the debt you can access aditional working capital.

            You can see more information at https://www.spotlightfinancial.biz/Small_
            Business_Loans.php

            Take a look, if it looks like you might be interested just give me a call or fill in our contact request on the website.

            Mark Lomas
            Spotlight Financial LLC
            1-888-600-6039 ext 169