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Loan Programs
MicroNaira offers
comprehensive low cost and accessible loan services. We focus
primarily on loan brokering and back-end loan support services to
meet each client's specific needs. The product and services we
deliver include loans for working capital and assets (equipment,
machinery, inventory, etc), and ongoing support.
We provide short, mid and long-term
loans. Our loan terms vary according to loan size and use, and the
needs of the borrower. Specifically, short-term loans typically
range from $5,000 to $10,000, and repayment period range from 3
years to 5 years, mid term $10,000 to $35,000 with 5 to 10 years
repayment plan, and long term is $35,000 and over, and repayment
period is 10 - 15 years.
Our ultimate goal is to become small
businesses funding alley. We have access to a full range of
financial sources and are dedicated to finding the right loan-with
the best rates, terms and costs-to meet our clients' unique
needs:
- Working Capital
- Equipment Financing / Leases
- Refinancing
- Start-ups
- Franchise
- Expansions
MicroNaira offers
multiple business loan programs for start ups, acquisitions,
expansions, and refinances. We also offer equipment leasing and
refinancing. Our most common industries are:
- Independently owned conveinence stores.
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Small gas stations.
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Quick service restaurants.
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SBA Loans are
loans that are guaranteed by the U.S. government. The types of
loans we work with are the 7(a) Loan program, and the 504 Loan
program.
The 7(a) loan program serves as the SBA's primary business loan
program to help qualified small businesses obtain financing with or
without real estate.
Typical uses are for:
- start up companies (franchises preferred)
- business acquisitions
- business expansions
- refinancing of current business debt
Loan proceeds can include:
- working capital costs
- furniture and fixtures
- machinery and equipment
- leasehold improvements (if a leased location)
- land and building (if real estate is included)
- closing costs
- debt refinancing
Loan maturity is up to 10 years for leased locations, and up to 25
years if real estate is included. Loans are fully amortized, and do
not have any balloons or calls. Interest rates are extremely
competitive. The SBA 504 loan program's main function is to provide
long-term financing with a fixed rate component. The loan must have
real estate and is not typically used for refinancing. The company
must be for profit. Please contact us for further
information on our SBA loan programs.
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Conventional
loan programs
are available for existing franchise owners and for transactions
that include commercial real estate only. Unlike SBA loans,
conventional loans are not guaranteed by the U.S. government.
Interest rates and terms vary by the project type and the
borrower's experience and credit. Please contact us for more details on
conventional loan programs.
Franchise loans.
We have competitive loan programs available for
various franchised concepts. We offer loan programs for start ups,
acquisitions, expansions, or refinances. Please contact us for further
information on our franchise loan programs.
If you are a Franchisor and would like
to talk to us about our franchise loan programs, please contact us and we will be happy
to try to set up a loan program for your Franchisees.
Equipment leases
are available for many types of business equipment
and help to conserve capital. The company must be in business for a
minimum of two years to qualify. Minimum lease amount is $5,000 and
there is no maximum. Most lease transactions have fast approvals
and minimum documentation is required. Contact us to find out if your
business qualifies for an equipment lease.
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