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Consolidate High-Interest Debt
Debt refinancing can save you thousands
Refinance high-cost debt and improve your cash flow with an SBA loan. Designed to lower monthly payments and reduce the burden of high-interest debt, this option can help business owners take control of their finances and reinvest in growth.
Don’t let high-interest debt crush your cash flow.
Only takes 5 minutes and doesn't impact your credit score1
Lower Monthly Payments
SBA loans often have lower interest rates than most traditional business loans, so refinancing high-cost debt with an SBA loan can significantly reduce your monthly payments.
Longer Repayment Terms
With repayment terms of up to 10 years, SBA loans allow for lower, predictable monthly payments, giving you more room to manage day-to-day expenses.
Improved Cash Flow
You can free up thousands each month by consolidating and refinancing high-interest loans. This can allow you to reinvest in your business operations, marketing, or inventory.
Expand Your Business
By consolidating debt with a low-cost SBA loan, you gain more working capital to fuel growth initiatives, hire additional staff, or invest in new opportunities.
How It Works: Consolidating high-interest debt with an SBA Loan
Applying with SmartBiz is simple and efficient. Here’s what to expect:
Step 1: Pre-qualify without impacting your credit
Pre-qualify in as little as 5 minutes without impacting your credit score.1 Simply provide basic information in our digital application, and we’ll automatically tell you if you pre-qualify for an SBA loan from $50,000 to $500,000.3
Step 2: Provide financial information
Submit financial details about your business and its owners. SmartBiz will work with you to determine if you can make the low monthly payments for the 10-year term SBA loan.
Step 3: Upload the required documents
Complete your application by uploading the requested documents. Your dedicated Relationship Manager will guide you through each step, ensuring a smooth application process.
Step 4: Access your capital and put it to work
Once your application is approved, you can activate your funds to cover operational costs or take advantage of growth opportunities.
What our customers have saved
Hundreds of eligible business owners have saved thousands by refinancing their debt with an SBA loan. With lower monthly payments and extended terms, your business can thrive without the weight of high-interest debt. Here are a few of their stories:
A manufacturing business saved $276,000 annually
A chemical manufacturing business with over 50 years in operation needed additional capital to support its recent growth. To finance this, the company had taken out a high-interest term loan and an expensive line of credit, resulting in combined payments of nearly $30,000 per month. SmartBiz helped by refinancing both loans into a $400,000 SBA loan, plus an additional $100,000 in working capital, reducing their total monthly payment to $6,958. This refinancing cut their monthly costs by $23,000, saving $276,000 annually.
A medical office consolidated and saved over $5,000 a month
A chiropractic office, founded three years ago by an experienced chiropractor, needed relief from the high-cost debt used to cover startup expenses. The business was managing nearly $50,000 in credit card debt and two high-interest lines of credit, resulting in burdensome monthly payments. SmartBiz refinanced these obligations into a single SBA loan with an additional $50,000 for working capital, reducing the total monthly payment to $2,365. This refinancing saved the business over $5,000 per month, totaling $60,000 annually.
A roofing contractor saved nearly $12,000 a month
A roofing contractor with over 13 years in business experienced rapid revenue growth due to a booming housing market and high demand for roof repairs in Colorado. To support this expansion, the business took out a large merchant cash advance, resulting in a $17,000 monthly payment. SmartBiz refinanced this debt with an SBA loan, lowering the monthly payment to $5,218. This refinancing saved the business nearly $12,000 per month, or $144,000 annually.
Law office saved over $13,000 a month
A law practice specializing in estate planning, probate, and family law has operated for over 20 years. After making a strategic investment in 2022, the business experienced a temporary decline in cash flow but rebounded with increased revenue in 2023. However, they were still burdened by a $132,000 merchant cash advance with a monthly payment of $15,556. SmartBiz refinanced the MCA and provided additional working capital, reducing the monthly payment to $2,435. This refinancing saved the business over $13,000 per month.
Pizzeria reduced monthly payments by over 50%
A quick-service pizzeria has successfully operated for over 15 years, experiencing steady revenue growth in the past three years due to a post-COVID resurgence and expansion in the surrounding area. To support this growth, the owner took out three high-interest lines of credit, totaling $150,000 with combined monthly payments of $8,500. SmartBiz refinanced these debts and provided an additional $150,000 for operating expenses, lowering the monthly payment to $4,175. This refinancing allowed the business to reduce its monthly payments by over half while effectively doubling the size of the loan.
