M5 Loan™

The M5 Loan™ is a military only variant of the SBA 7A EXPRESS LOAN

Founded by a Veteran for Veterans, Active Military or their Spouses.

Requirements to qualify for an M5 loan™

  • Military Status

    Verification of military status (i.e., DD-214 or current LES)

  • Debt

    Outstanding credit card debt (not to exceed $15,000)

  • Credit

    Credit score must by 685 or higher

  • Cash

    Start-ups and new businesses in operation less than 2 years require minimum cashcontribution of 10% of the loan amount from non-borrowed sources

  • Liquidity

    Personal liquidity of $20,000 (includes cash, savings, IRA, etc) or 15% of the loan

  • No Bankruptcy, Judgments or Tax Liens

     

  • No 912 Issues

    No arrests

SBA 7A EXPRESS LOAN FEATURES

  • Use of Funds:

    Business acquisition, startup, equipment, debt refinance, working capital, inventory, tenant improvement, partner buyout

  • Industries:

    Most industries qualify, no non-profits

  • Loan Types:

    Term loansor lines of credit

  • Interest Rate:

    Adjustable or fixed rates available based on WSJ Prime Rate %2.75

  • Term:

    10 years-Business acquisition, equipment, tenant improvement 7 years-Working capital, inventory Up to 10 years-Debt refinance

  • Amortization:

    Fully amortized, no balloon payments

  • Prepayment Penalty:

    None

  • Collateral:

    Any available collateral

  • LTV/Advance Rates:

    Advance Rate: 75% – Startup 85% – Business acquisition 90% – Equipment 100% – Debt refinance, inventory, working capital, partner buyout

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M5 Loan

The M5 is a military only variant of the SBA 7A EXPRESS LOAN

Requirements to qualify for an M5 loan

  • Military Status

    Verification of military status (i.e., DD-214 or current LES)

  • Debt

    Outstanding credit card debt (not to exceed $15,000)

  • Credit

    Credit score must by 680 or higher

  • Cash

    Start-ups and new businesses in operation less than 2 years require minimum cashcontribution of 10% of the loan amount from non-borrowed sources

  • Liquidity

    Personal liquidity of $20,000 (includes cash, savings, IRA, etc) or 15% of the loan

  • No Bankruptcy, Judgments or Tax Liens

     

  • No 912 Issues (Incarceration)

     

SBA Loan Features and Requirements:

  • Loan Amount

    Working capital loans ranging from $100,000 up to $150,000

  • Rate

    Interest rate is based on the Wall Street Journal Prime Lending Rate plus 2.75%.

  • Term

    Repayment term 10 years, Adjusting Quarterly

  • Documents

    Must have a valid legal Business Name and EIN prior to submitting loan application to the Bank.

  • Incorporation

    Must submit signed SBA forms, 159 Disclosure, SBA Screening and Invoice upon Preapproval.

  • Fee

    An upfront fee of 2% of the requested loan amount is paid to My Military Financial Services upon Credit Screening Loan Approval.

  • Documentation needed for Underwriting

    After Credit Screening Loan Approval is obtained, a Funding Checklist outlining specific documents conducive to the client and Franchise (if applicable) is needed to submit the loan to the Bank’s underwriting department.

  • Underwriting Process

    Quick response back from underwriters (3 to 5 business days). When the file clears underwriting it will be assigned a closer who will send a Final Funding Checklist of items needed to close/fund.

  • My Military Financial Services is with you every stop of the way

    The APPROVAL and Funding Checklist is sent by your assigned Bank Processor. Once ALL items on the checklist are received, reviewed and accepted by the Bank, all Express Loans needto close within 30 to 45 Business days. The Client works directly with My Military Financial Services’ team of Technical Supervisors (TS) who will be on staff to assist the borrower throughout the entire process.

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