Readycap Commercial SBA Loan Review

About Readycap Commercial

Readycap Commercial is a New Jersey-based SBA Small Business Lending Company (SBLC) — a non-bank lender licensed and supervised by the U.S. Small Business Administration to originate SBA 7(a) loans nationwide. What distinguishes Readycap in the crowded SBA market is its deep specialization in complex acquisition transactions, particularly those where the buyer is simultaneously acquiring both the operating business and the commercial real estate on which it sits. This deal structure — combining goodwill and real property — can challenge underwriters at generalist lenders, but Readycap's team handles it with speed and confidence.

Readycap operates a fully digital application and underwriting process, which is unusual for an SBLC. Borrowers can initiate, upload documents, and track status through a streamlined online portal, reducing the friction that typically comes with non-bank lender relationships. The company has invested heavily in its underwriting infrastructure, enabling close times of 25–40 days — faster than most SBLCs, and competitive with some PLP bank timelines.

The company has established particular strength in hospitality acquisitions, including hotel and motel transactions where the real estate and the franchise flag are inseparable parts of the deal. Readycap lends in all 50 states and Washington, D.C., with no regional restrictions. Industrial properties with an operating business component are also a growing segment for the lender.

SBA 7(a) Loan Products

Readycap Commercial offers the SBA 7(a) Standard loan and the SBA Express loan product. Their 7(a) Standard product is most commonly used for acquisition transactions in the $500,000–$5,000,000 range, especially those involving real estate. Readycap is particularly well-configured for deals where a buyer needs to finance business goodwill, real property, equipment, and working capital in a single loan closing.

The SBA Express product, available up to $500,000, offers faster decision timelines but is less common in Readycap's deal pipeline given their minimum loan threshold. For hospitality acquisitions — hotels, motels, bed and breakfasts — Readycap's underwriters understand brand flag requirements, property improvement plans (PIPs), and the specific due diligence steps required by major hotel brands during an ownership transfer. This expertise significantly reduces surprises in the closing process.

Current Rates & Fees (2025)

Readycap Commercial prices its SBA 7(a) loans based on the WSJ Prime Rate plus a spread that reflects borrower credit profile, deal complexity, and loan size. As an SBLC, Readycap is required to submit loans to the SBA for guarantee authorization after internal credit approval — a step that PLP banks skip — though Readycap's efficient workflow minimizes the time this adds. SBA guaranty fees on the guaranteed portion apply per the SBA fee schedule; the 2025 fee schedule waives fees for loans up to $1M for veterans. All rates assume Prime at 7.50%.

Eligibility Requirements

Readycap Commercial requires a minimum personal FICO score of 660 for all principals with 20% or more ownership. The business being acquired must be U.S.-based, for-profit, and in an SBA-eligible industry. Deals involving commercial real estate must include owner-occupancy of at least 51% of the property. Readycap requires a minimum 10% buyer equity injection into the transaction, which can be structured as a combination of cash and seller note on standby.

Readycap's underwriting focuses heavily on the global cash flow analysis — both from the target business and from the borrower's personal income — and applies a minimum DSCR of 1.25x. For real estate transactions, an independent appraisal by a certified MAI appraiser is required. Environmental assessments are standard for most real property transactions. Hospitality acquisitions require franchise approval letters and, where applicable, a PIP plan approved by the brand. All documentation is submitted digitally through Readycap's loan portal.

Pros & Cons

How to Apply with Readycap Commercial

Readycap Commercial's application process begins at their website, where borrowers can initiate a loan inquiry and be connected with a business development officer. The fully digital workflow is one of Readycap's signature features — all documents are uploaded electronically, and borrowers can check the status of their application online throughout the process.

Required documentation includes three years of business tax returns for the acquisition target, current year-to-date profit and loss statement and balance sheet, three years of personal tax returns for all principals, personal financial statement (SBA Form 413), a signed purchase agreement or letter of intent, and a business plan. For transactions involving real estate, Readycap will order an MAI appraisal and Phase I environmental assessment through approved vendors. Hospitality transactions require franchise approval documentation and a current PIP. Once Readycap's credit committee issues an approval, the file is submitted to the SBA for guarantee authorization — a step that typically adds five to ten business days in Readycap's streamlined workflow.

Frequently Asked Questions