Extensia and Its Sister Company LendThrive Offer Various Business Loans that Support Any Venture.
Whether you’re opening a retail store on Main Street, expanding your restaurant or growing any other budding venture, you’ll likely need a business loan to help fund it. In coordination with sister company LendThrive, experienced commercial lender Extensia Financial provides several types of small business loans that can help you launch, grow or pivot your business.
Below are five business loans that are all available to entrepreneurs and business owners through Extensia Financial or LendThrive, an online lender offering affordable, fixed-rate business financing.
Commercial Real Estate Loans
For small business owners interested in expanding, renovating, refinancing or purchasing new property, a commercial real estate loan can be essential to growth. Extensia Financial provides conventional financing to retail projects, multi-family housing, office buildings, healthcare facilities, educational institutions and more. Extensia Financial offers competitive interest rates starting at 3.5%, and typically funds loan amounts ranging from $2.5 to $5 million. Plus, Extensia has the network to fund larger loans of approximately $25 million for bigger projects.
Conventional Construction Loans
A conventional construction loan is a type of small business loan that can be used for commercial construction projects, such as expanding or renovating a business. It can also be used to purchase or lease equipment and hire construction teams. Extensia Financial, in collaboration with parent company AVANA Companies, tailors the loan product based on the industry, market and project needs.
SBA 504 Loans
The SBA 504 is one of two loan programs offered by the Small Business Administration. This financing option provides long-term, fixed-rate financing for the purchase or construction of new buildings, land, machinery or equipment. SBA 504 loans cannot be used for working capital or investment in rental real estate. Typical SBA 504 loan terms range from 10 to 25 years, while interest rates can be as low as 2.86% (including fees).
Fixed-Rate Business Loans
Because small business’ cash flow is constantly changing, LendThrive offers fixed-rate business loans for small business owners interested in funding unexpected projects, expansion or acquisition. With a fixed-rate loan, borrowers receive a set interest rate that won’t fluctuate for the duration of the loan. As an online lender, LendThrive funds up to $150,000, provides application approvals within 24 hours and offers rate reduction rewards for customers who make timely payments. To qualify, borrowers must have:
- A Minimum Revenue of $10,000 Per Month
- Majority Ownership
- Been in Business for One Year
- An Active Bank Account
- Operating Profitability
- A Minimum FICO Score of 675
Flexible Loans for Small Businesses
A flexible loan for small businesses, also known as a business line of credit, provides access to cash up to a fixed credit limit. LendThrive offers flexible loans for a variety of industries, including retail, e-commerce, construction, beauty salons, breweries and law firms ranging from $25,000 to $150,000. As an added bonus, LendThrive’s application process is simple. Review the eligibility requirements and fill out the business loan application, and then, LendThrive will check your credit history. Within one business day, LendThrive will provide a final approval decision.
About Extensia Financial
Established in 1998 and headquartered in Simi Valley, CA, Extensia Financial offers competitive commercial real estate loans. We partner with credit unions and connect them to investors across the United States. Additionally, we uniquely support and guide our partners through the entire loan process. Extensia Financial is a proud member of the AVANA Family of Companies.