General and Eligibility

Who is Access Street?

Access Street acts as a referral and packaging agent for small businesses looking for SBA loans from lending institutions. The online application improves lending efficiency and enables business owners access to low rates and loans with longer terms.

What is an SBA loan?

An SBA loan is a small business loan that is partially guaranteed by the United States Small Business Administration. SBA loans are great for small business because they generally offer lower rates and longer terms leading to lower and more manageable monthly payments than other traditional loan options.

What loan amount can I obtain with Access Street?

Access Street works with banks to provide loans from $150,000 – $5,000,000 for businesses operating for 2+ years.

What can my company use an SBA loan for?

  • To refinance certain existing business debt
  • To establish a new business or assist in the acquisition, operation or expansion of an existing business
  • To construct a new building or renovate an existing building
  • To purchase real estate, including land and buildings
  • To provide working capital to use to pay operational expenses, accounts payable and/or to purchase inventory
  • Short-term working capital needs, including seasonal financing, contract performance, and exporting
  • Revolving funds based on the value of existing inventory and receivables, under special conditions
  • To purchase equipment, machinery, furniture, fixtures, supplies or materials

Is my company eligible for an SBA loan?

Many small businesses qualify for SBA loans.  We can let you know early in the process if you and your company qualify.

A few basic requirements:

  • Company has been in business 2+ years
  • Be able to demonstrate a need for the loan proceeds
  • Use the funds for a sound business purpose
  • No outstanding tax liens
  • No delinquencies on any existing debt obligations to the U.S. government
  • No bankruptcies or foreclosures in the past three years
  • U.S. based business owned by U.S. citizen or Lawful Permanent Resident
  • Owners have good personal credit score
  • Owners must have no major criminal record (outside of minor traffic violations)
  • Owners must be over 21 years of age

What types of businesses are not eligible for SBA loans?

Most business verticals are eligible. Industries that are do not qualify include:

  • Businesses engaged in illegal activity
  • Business located in a foreign country
  • Businesses primarily engaged in the business of lending
  • Life insurance companies
  • Government-owned entities
  • Businesses primarily involved in political and lobbying activities
  • Speculative businesses (such as oil exploration or mining)
  • Bail Bonds or Pawn Shops
  • Businesses involved in gambling or private clubs
  • Businesses that present products or services of an indecent sexual nature

Loan Details

What will my interest rate be?

Interest rates are variable and depend on the loan amount generally the rate will be:

6.25% (Prime Rate plus 2.75%)

What are the fees and other costs?

Unlike other referral agents, Access Street does not charge the borrower a referral fee! We charge a packaging fee of 1% of the loan amount with a maximum fee of $3,000 regardless of the loan amount. The SBA guarantee fees range from 0%, for loans under $150,000 to 3.5% on loans of more than $700,000. There is also an additional fee of 0.25% on any guaranteed portion of more than $1 million. This fee is paid directly to the SBA. Standard bank closing costs and fees may apply. These fees are deducted from your loan proceeds at the time of funding.

Are personally guarantees required?

Personal guarantee are required for all business owners who own 20% or more of the business. Married couples who collectively own 20% or more of the business, must both provide a personal guarantee.

What are the repayment terms?

The payment term will be determined by the size and use of the loan. Generally, the loans will have a 10 year term and no prepayment penalties will be applied.

Access Street Process

What type of business financial information do you need to apply?

The necessary information is dependent upon the use of funds for your loan.  General information that is always necessary are updated financial statements (Balance Sheet and Profit and Loss), past tax returns to verify income, valid copy of driver’s license or passport and additional financial information surrounding individuals with ownership percentage over 20%. Don’t worry if you do not have everything right now, that’s why our team is here to help!

What if I have questions during the online process?

The experienced and knowledgeable Access Street team is available to walk you through any questions or issues.  Feel free to give us a call or send us an email.  It is our pleasure to make the experience as seamless as possibly.

How long does it take to get my funds?

After finalizing the application, you can receive your funds in as fast as a week after completion! Most loans only take a couple weeks provided you are able to provide the necessary information.  Our goal is to get your company funded so you can focus on what is important with your business.

How do you protect my identity and data privacy?

Access Street takes the security and privacy of your Personal Information and Business Information extremely seriously.  We are committed to providing the highest level of security and privacy during the entire process.

Access Street uses high-grade SHA-256 RSA encryption for secure (https) connections, the same level of security used by banks and other financial institutions. Results that are encrypted use AES encryption, the encryption standard adopted by the United States government. TLS does not allow anyone to intercept or obtain the Personal Information. This process makes the information unreadable by anyone outside of Access Street.

To learn more about how we protect your information, please review our Security and Privacy Policies.