SBA  GUARANTEED LOANS

SBA  GUARANTEED LOANS

SBA Loans are lender generated loans that are guaranteed to the lender by the federal government. While the process for SBA loans may be a little longer than more conventional loans, these guaranteed loans will get businesses the best terms and rates as the risk the lender is reduced due to the government guarantee. This means more money, longer terms and lower rates for businesses.

COMMERCIAL REAL ESTATE LOANS

COMMERCIAL REAL ESTATE LOANS

Commercial Real Estate Loans are loans which are secured by a company’s ownership of real estate. Using the commercial real estate as collateral on the loan provides more security for the lender and therefore allows for better terms for the borrower. There are several types of loans that fit into this criterion, such as rent replacement, purchase/mortgage, build, refinance or liens for working capital.

TERM LOANS

UNSECURED LONG-TERM LOANS

Term loans are generally traditionally speaking what most might refer to as conventional loans, and while these loans have changed over time, the idea remains the same. Term loans can range from one end of the spectrum to the other. These loans are going to be interest-based loans that can go up to 10 years in length, be uncollateralized and made payable monthly.

UNSECURED LOANS

UNSECURED SHORT-TERM LOANS

These loans tend to be the easiest for everyone to qualify for and move the fastest. People confuse short-term loans as being needed for people who are in some financial pinch, however these loans, due to their short-term nature (up to 18 months) are going to be a dollar per dollar the cheapest type of loan out there. Credit is not a factor, and these loans are based solely on revenue.

EQUIPMENT FINANCING

EQUIPMENT FINANCING

Equipment Loans are loans which are secured by the equipment purchased by the business. Like financing a car that must be paid off before it ever becomes the property of the person making the payments, the lender on the equipment loan owns the equipment until the business has paid it in full. In the event of a default, the equipment can be repossessed by the lender and sold at auction.

LINES OF CREDIT

LINES OF CREDIT

Lines of Credit for businesses work the same way that credit cards work for consumers. Business Lines of Credit allow a company to use and only pay for the money they need at the time they need it. LOC’s also enable businesses to operate with a cushion knowing that additional capital is easily accessible for them should they need it, with minimal effort. Like credit cards, LOC’s can be costly.

DEBT CONSOLIDATION

DEBT CONSOLIDATION

There are several ways First Union Lending can help businesses consolidate debt. The idea of debt consolidation, however, is one where we take multiple existing debts and combine them into a lower easy to manage payment which can be made once vs. numerous times. Debt consolidation comes in many forms and is NOT settlement and therefore does not negatively impact your business or personal credit.

BRIDGE LOANS

BRIDGE LOANS

Bridge Loans are just what they sound like and will help bridge a gap from one point to another. Bridge loans are typically part of an overall loan strategy and are the advanced part of a loan. Bridge loans usually come before term loans, SBA loans or are going to be used to clear up issues that may cause problems in the approval of other types of term loans. Bridge loans are consolidated out of quickly.

CREDIT CARD PROCESSING

CREDIT CARD PROCESSING

CC processing is an additional benefit of working with First Union Lending. First Union can save business owners up to 75% on their current credit card processing fees because while we work directly with the card issuers, credit card processing is not our primary business. We don’t have marketing costs, nor do we need to pay brokers to bring your business to us. So, we pass the savings to you.