Perfect for start-ups, new businesses and existing businesses
10 Year Term
low monthly payments and no prepayment penalty gives you flexibility to build your business
Interest rate is adjustable based on the Wall Street Journal Prime Rate plus 2.75%.
Your team did a great job at helping me get funded for the Mr. Appliance franchise. Even though the holidays threw my timeline off a little bit, Eddy did a great job at keeping the ball rolling. You and I talked for the first time on November 3, 2016 and the money was in the bank this week, Monday January 30, 2017. In less than 3 months from our initial contact you helped me start my dream.
I have referred your team to several people and hope they choose this route to help them grow their businesses.
Thank You! and have a blessed week,
Mr. Appliance of Oconee
Good evening. I wanted to thank you so much for guiding me through the SBA Loan process. Your help, advice, and encouragement helped draw the process to a very successful conclusion.
I now am a new and growing Master Franchisee with the System4 brand. Providing Facility Services Management to my clients throughout the East Tennessee Valley.
It certainly is a daunting task setting up ones own business and securing the lending required to be successful. Your knowledge of the SBA process and financial instruments available made all the difference in my own confidence level. Thank you again for all your help and the hard work of your entire office team.
System4 of East Tennessee
The Dream Loan
SBA working capital loans ranging from $200,000 to $350,000.
Perfect for start-ups, new businesses, and existing businesses.
Loan purpose includes business acquisitions, expansions, asset purchases, and franchise purchases
The term of the loan is Ten (10) Years.
Pre-Payment penalty applies if the loan is paid off within the first three years.
Interest rate is adjustable based on the Wall Street Journal Prime Lending Rate plus 2.75%.
Collateralized with Business Assets, however personal Assets may be required to be pledged as collateral.
The Client works directly with First Financials’ team of Technical Supervisors (TS) who will be readily available to assist the borrower(s) throughout the entire process.
SBA Loan Requirements
Required Credit Score must be 690 or greater
Required equity injection plus reserves per SBA Guidelines range from 15% – 20% of the requested loan amount from non-borrowed sources being checking, savings, cash withdrawal from Retirement, Rollover of 401K or stocks and bonds. Please note: Required Equity injection cannot be from borrowed sources
Valid Business Name
Must have a valid Business Name and EIN prior to submitting for Bank Approval
Bankruptcies & Judements
No Bankruptcies, No open judgements and/or tax liens
Evidence of US Citizenship or proof of permanent residency
SBA 159 Disclosure fee
SBA 159 Disclosure fee of $2,500 is paid directly to First Financial
Cannot generate a loan approval without the signed SBA documents
Once Approved, Dream Loans are expected to close within 45-60 business days; Construction loans will not close until a Certificate of Occupancy (CO) is issued