SBA LENDING
We’re partnering with the SBA to provide current customers with the newest COVID-19 relief loan.
So you’re starting or growing a small business…
An SBA Loan is a great way to obtain capital to fuel your small business.
Our PPP responsiveness has earned us an important distinction.
Learn More
Now, let’s look at our SBA options
SBA 7(a) Loan
SBA 7(a) Loan
Get capital with longer terms and amortization that can help to shrink payments and potentially free up additional cash flow.
How you can use it
- Expanding, renovating or leasehold improvements
- Purchasing land and buildings
- Purchasing equipment, machinery or furniture/fixtures
- Working capital or inventory
- Financing start-ups
- Acquisitions
- Refinancing business debt
How you can qualify
- Your business must be defined as a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment
- Lending companies
- Pyramid sales companies
Loan details
- Loan amounts are available from $350,000 to $5 million
- For loan requests above $5 million, companion non-SBA financing may be available
- Loan terms:
- 25 years for real estate
- 10 years for all other purposes
- If real estate makes up at least 51% of the total use of proceeds, the term of the loan can go up to 25 years
- If real estate is less than 51% then a blended loan term may be offered
SBA Express Line of Credit
SBA Express Line of Credit
Access a revolving line of credit to help manage your cash flow needs. This line is available to applicants that are also obtaining an SBA 7(a) Term Loan at the same time.
How you can use it
- Inventory purchases
- Improvements to business cash cycle
- Short-term working capital
- Supports business seasonality
How you can qualify
- Your business must be defined as a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment
- Lending companies
- Pyramid sales companies
Loan details
- Revolving working capital financing is available for up to $350,000
- Term of the line is 10 years, with the first 5 years being used for revolving cash needs, and the balance is termed out over the remaining 5 years
SBA 504 Loan
SBA 504 Loan
Get assistance in the purchase of commercial real estate, machinery and equipment.
How you can use it
- Purchase of land and land improvements
- Acquisition of existing building
- New construction
- Fixed assets from business acquisition
- Building expansion or renovation
- Long-term equipment
- Debt refinance
How you can qualify
- Businesses must be considered a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment companies
- Lending companies
- Pyramid sales companies
Loan details
- Loan amounts available up to $13 million
- Interest rate and terms
- Fixed interest rate (typically below the market rate)
- The Interest rate locks when the SBA funds the second mortgage
- Fully amortized over life of loan (no balloon)
- Real estate may be up to a 25-year term
- Machinery and equipment may be 10-year term, or longer (based on useful life)
Ready to get started with an SBA Loan? Let’s start a conversation.
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