SBA Lending

With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans.

Can you use an SBA loan?

If you have a growing business, SBA financing can help you to:

  • Purchase, refinance, or renovate real estate to operate your business, construct a business facility, or make improvements to an owner-occupied property.
  • Purchase fixed assets. Includes assets such as heavy machinery or specialized equipment.
  • Borrow permanent working capital or a revolving line of credit to manage day-to-day cash flow and purchases.

SBA loans provide many advantages:

SBA loans are typically easier to qualify for than conventional business loans.

  • Longer repayment terms provide lower monthly payments.
  • You may be able to borrow up to 90% of the collateral’s value.
  • Any applicable fees may be financed directly into the loan.

SBA Loans

SBA 7(a)

SBA 7(a) can provide funds for a variety of business purposes. Up to $5,000,000 can be used to fund lines of credit, equipment purchases, business acquisitions or expansion, finance permanent working capital, or purchase real estate.

Interest Rate: Fixed or variable rates are available.

Repayment Terms : Working capital loans – up to 10 years. Equipment loans – up to 10 years. Real estate loans – up to 20 years.

SBA 504 Loan Program

These loan proceeds can be used to purchase or refinance real estate or equipment. The SBA 504 Loan Program is generally designated for projects over $500,000.

Interest Rate: Fixed or variable rates are available depending upon the term of loan.

Repayment Terms : Terms are typically from 10 to 25 years.

Fees : SBA fees, packaging fees, and origination fees may apply and will vary based upon the type and the term of the loan.