Who are SBG Funding business loans best for?
SBG Funding has a low minimum credit score, so it can be a good choice for applicants with fair personal credit. Funding times can be as little as 24 hours, making SBG an attractive option for businesses who want fast access to funding. The lender also offers various loan types to meet different needs.
Who might SBG Funding not be a fit for?
SBG Funding has high annual revenue requirements for some loans, so smaller businesses might not qualify. Fees charged on some loans, along with loan types that charge a monthly interest rate, can result in higher borrowing costs.
Types of business loans available
SBG funding offers loan options for various financing needs.
Short-term loans
SBG short-term loans are available for $5,000 to $1 million, with terms ranging from six to 48 months. This type of loan has a low minimum credit score requirement of 500, but a comparatively high annual revenue requirement of $250,000. Short-term loans might come with origination fees between 0% and 5%, but there is no prepayment penalty. Some loan terms feature prepayment discounts.
Bridge capital loans
You can get a bridge capital loan from SBG Funding for up to $1 million. Terms range from six to 24 months with weekly or monthly payments. You need an annual revenue of at least $350,000 and a credit score over 600 to qualify.
Business lines of credit
An SBG Funding business line of credit provides eligible business owners with a revolving credit line of $5,000 to $1 million. Repayment depends on the amortization terms of your loan. A draw fee of 0% to 2% might apply depending on your terms.
Equipment financing
An equipment loan can be a good option for purchasing equipment for your business. SBG Funding equipment financing offers longer terms than its short-term loans, ranging from one to seven years. There are no repayment penalties.
Invoice financing
SBG Funding also offers invoice financing, which allows you to borrow against your outstanding invoices. You can access funding up to 90% of your eligible accounts receivable.
SBA 7(a) loans
You can apply for an SBA 7(a) loan through SBG Funding. Loan amounts range up to $10 million with repayment terms from two to 10 years. Eligibility requirements are stricter than other SBG Funding loans, and you need a minimum credit score of 650 and at least two years in business to qualify.
