Craft Brewery SBA Loan ($50K-$350K)
Small Business Administration Loans (SBA) are generally the least expensive financing option for craft brewery, microbrewery, taproom, and brewpub owners. The SBA 7(a) loan is the Small Business Administration’s most popular product and offers a flexible sum of cash that can be used for anything from managing daily operations to purchasing new brewery equipment and refinancing high-interest loans.
LVRG offers SBA 7(a) loans up to $350,000 in the most streamlined and efficient way possible. And, you can have funds in as fast as 7 days after the application is completed! *Typical funding time at a bank is 2-8 months.
- Loan amounts from $50,000 to $350,000
- 6.25% to 7.25% interest
- Pre-qualify in minutes
- Funds in as fast as 7 days after the application is completed
- 10 year term with no pre-payment penalty
Details on Minimum Qualifications:
- While there is no minimum credit score or revenue, most borrowers have a score of 650 or higher and make at least $50,000 annually.
- For loans smaller than $150,000, you should have an annual revenue of at least $120,000. For loans over $150,000, you should have an annual revenue of about $300,000.
- Each principal owner must personally guarantee the loan.
- No outstanding tax liens.
- No bankruptcies or foreclosures in the last three years.
- No recent charge-offs or settlements.
- Must be current on government-related loans.
Reasons to Apply for an SBA Loan:
- Least Expensive Financing - It would be tough to beat the low rates of SBA loans. SBA is an excellent option for small business owners looking to keep financing costs down.
- Great Financing for Growth - If your primary goal is to grow your brewery, microbrewery, taproom, or brewpub, getting an SBA loan is an excellent way to reach that objective. You get the funds you need on manageable terms.