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ABL Loan Application

American Business Lending has made the process of applying for a small business loan easy with a printable PDF file.

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Loan Program

ABL serves the small business market by providing commercial financing for projects between $300,000 and $5,000,000 for: real estate, expansion, construction, refinance, business acquisitions, start-ups, franchises, furniture, fixtures, equipment, inventory and working capital.

SBA 7(a) Loan Program
Purpose of Loan:   Commercial real estate purchase, expansion, construction, refinance; business acquisitions; start-ups; franchises; furniture, fixtures & equipment; inventory and working capital
Loan Amount:   Up to $5,000,000
Capital Injection:   Minimum 10% down payment with the exception of debt refinance loans, which may require no down payment
Loan Term:   From 7 years up to 25 years fully amortized
Interest Rate:   Floating rate, up to 2.75% above Wall Street Journal prime rate; adjusted quarterly
Loan Fees:   $1,500 loan packaging fee / SBA guaranty fee determined by the SBA.
Prepayment Penalty:   If a loan is for less than 15 years, there is no prepayment penalty.  If a loan is for 15 years or more, the borrower may prepay up to 25% of the principal balance during the first three years of the loan without penalty. Any prepayments in excess of 25% will be assessed a prepayment penalty of 5% in Year 1, 3% in Year 2 and 1% in Year 3
Collateral:   First lien mortgage on business real estate, and UCC filings on machinery and equipment, accounts receivable and inventory
Loan to Value:   Up to 90%
Personal Guarantee:   Guarantee of all principals who own 20% or more of the business
Debt Service Coverage:   Minimum target of 1.20x for past fiscal year or recent interim period for existing businesses.  A start-up or turnaround business will be looked at on a projection basis