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SBA LOAN | bank | leasing broker | |
---|---|---|---|---|
Competitive Rates | Yes | Yes | Yes | Yes |
Approval Time | 1 Hour | Several weeks/months | Several weeks/months | 1-3 Days |
Lease Agreement/Docs | 100% Offline, 1-Page | Long painful process | Offline/Hard Copies | Not Web Based |
Collateral/Personal Guarantee | Not Required | No | Yes | Yes |
Quick Processing Time | Yes | NO | No | No |
High Approval Rate | Yes | No | No | No |
Time in Business | Start Up Welcome | Start Up Welcome | Min 3 yrs in business | Min 3 yrs in business |
Funding Range | Anything over $5000 | Credit Dependent | Credit Dependent | Up to $250k |
Funding Speed | 24 Hours | 30-90 Days | 30 Days | 5-10 Days |