Looking to secure a large amount of funding for your business? You may be looking to buy commercial real estate or invest in a new phase of growth. Whichever the case, a $5 million business loan gives you enough capital to take on large projects and chase after even larger rewards.
Most business loans cap at $1 million to $5 million. Generally speaking, you’ll have to work with a bank, credit union, or non-bank lender to secure a loan amount of this size.
Some lenders offer $5 million loans through the government-backed Small Business Administration SBA 7a program. SBA loans can be a great financing option because of their low interest rates, but they’re also very difficult to qualify for. The application process is lengthy, rigorous, and notorious for low approval rates.
The good news is that there is more than one way to secure a $5 million business loan. From merchant cash advances to business lines of credit – we’ll go over all the options your business has for obtaining funds.
A $5 million business loan is on the higher side of the financing spectrum, but that doesn’t mean you can’t secure one with favorable terms that allow your business to grow without restriction. Depending on your business’s financial information, you might even be able to secure a loan of this size without offering real estate collateral…
Joe Camberato, CEO of National Business Capital, breaks down what it takes to secure a $5 million business loan to support your growth.
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