2. How much does your financing cost?
It depends on your financing needs. For example, SBA loans have a variable interest rate based on the prime lending rate plus an interest-rate spread. They are generally priced at prime plus 2.75%. Our origination fee (points) on these loans never exceed 1.25% of the loan amount. Although the SBA does charge a guaranty fee (paid directly to the SBA) of up to 3.5% of the loan, this fee can be financed as part of the loan. Other expenses include attorney fees, appraisal fees and environmental fees.

3. How soon can you close a loan?
The WPI Financial Services packaging program has been structured to offer fast and decisive credit approval. Typically we are able to provide a response within a week to 10 days after submitting a complete loan package.

4. Who do I talk to about my financing situation?
WPI Financial Services has representatives located in Connecticut and Florida who are available to discuss your financing needs. Click here to find the WPI Financial representative nearest you.

5. How do I get started?
It is as easy as completing our simple online application. This will provide us with the initial information we need to evaluate your financing needs. Or if you prefer we can mail you a complete Loan Application, click here to e-mail your request or call 1-877-974-6678. If you would like to talk to the WPI Financial representative nearest you - Contact Us.

6. What information do I need to send to you?
We have outlined the initial documents we will need to get started under the Application Process - Documents Needed To Get Started.

7. What support can I expect from WPI Financial?
We have a dedicated team of individuals who will guide you through the entire loan process from preparing the application to closing the loan. Your initial contact will be with one of our business development officers. The business development officer will work with you and assist you throughout the loan process. As your loan progresses, a loan processor at our headquarters will assist the business development officer in getting all the paperwork completed for closing.

8. For what purposes will you lend money?
Typically, our small business loans are used for real estate acquisitions, construction, renovation, business acquisitions, debt refinance, purchase of machinery, equipment, furniture or fixtures, and for additional working capital.

9. What type of industries do you finance?
We are small business specialists and lend to a variety of industries including:Gas Station/Convenience Stores, Hotel/Motels, Restaurants, Day Care Centers, Assisted Living Facilities, Professional Services, General Retail, Manufacturing

10. Do you finance business acquisitions?
Yes, WPI Financial Services can provide up to $3 million for the acquisition of a business. Click here for specific loan terms.

11. Do you provide financing for start-ups and turnarounds situations?
Yes, depending on the situation. We look to management experience and many other factors. We realize that many times there is a "story" behind a particular financing need.

12. How much money can I borrow?
Our loans range from $200,000 to $3 million. We will review your financing needs and cash flow requirements to structure a loan that is right for you.

13. Am I required to contribute money? How much?
Usually, but not always. It depends on the situation. If you are acquiring a business we would expect you to contribute funds toward the purchase. If you are refinancing an existing business, you probably have already built up equity so 100% financing might be possible. Each situation is reviewed individually to determine how much money you, the borrower, will be asked to contribute.

14. Do you provide financing for construction loans?
Yes, we offer construction and major renovation financing through our SBA 7(a), 504 and B&I loan programs, as well as, conventional programs for a variety of industries.

15. Will you provide financing to first time business owners?
Yes, depending on the situation. We look to your overall management and industry experience; we realize you may not have been an owner in the past but still have significant industry operating experience.

16. Do you require a personal guarantee?
Yes, in most cases we will require a personal guarantee of all principal partners.

17. Will I qualify for a loan if I had poor credit in the past?
Perhaps. We will review your credit history with you and take into consideration the surrounding circumstances that resulted in the poor credit history. However, there are many factors that contribute to the decision to fund a loan, with credit history being an important element. We review all risks associated with the loan in making our final credit decision.

18. How long has WPI Financial Services been in business?
For over 6 years. Since 1995, WPI Financial Services has assisted in financing hundreds of small businesses.

19. Why should I choose WPI Financial?
WPI Financial Services has assisted in financing hundreds of small businesses and is one of the most experienced small business Loan Correspondents in America. Not only do we understand the SBA loan program; we understand the unique needs of small businesses and are able to provide financing quickly. Our 6 years of experience as a small-business loan packager assures you that WPI Financial Services is the answer for your business financing needs.