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What is a Small Office Home Office (SoHo) loan?

April 26, 2017home office loan Office small Soho

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What is a Small Office Home Office (SoHo) loan?

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A SOHO loan is a product that offers qualified small business owners rapid approvals on a $5,000 – $25,000 loan. The terms are a 7-year or 10- year repayment period, no prepayment penalty, minimal paperwork, and technical assistance on an as-needed basis. SBA Express Loans – there are two programs for small business owners: 1. Express SBA Loans – offered to everyone. 2. SBA Patriot Express Loans – offered specifically to minorities, women, veterans and businesses located in an Enterprise Zone.