SBA Loans
Give your business room to grow with SBA Loans
SBA loans are partially backed by the U.S. government and the Small Business Administration, which gives lenders greater opportunity to work with growing businesses.
SBA loans can be used for a variety of purposes, including starting a business, financing business expansion, purchasing real estate or equipment, and more.
Which SBA loan type is right for me?
7(a) Loan
(504) Loan
7(a) Loan
Up to $5 million gross
(504) Loan
Ranges from $5 million to $5.5 million
7(a) Loan
- 85 percent guaranty for loans of $150,000 or less
- 75 percent guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)
(504) Loan
- Certified Development Company (CDC): up to 40 percent non-guarantied financing
- Lender: 50 percent Equity: 10 percent plus additional 5 percent if new business and/or 5 percent if special user property
7(a) Loan
- Must be a for-profit business and meet SBA size standards
- Show good character, credit, management and ability to repay
- Must be an eligible type of business
(504) Loan
- For-profit businesses; less than $15 million tangible net worth
- Average two full fiscal year net income less than $5 million
- Refinance requires business/commercial debt to be two years or older
7(a) Loan
- Long-term financing
- Improved cash flow
- Fixed maturity
- No balloons
- No prepayment penalty (under 15 years)
(504) Loan
- Low down payment
- Equity (10 to 20 percent)
- Fees can be financed
- SBA portion: long-term fixed rate
- Full amortization
- No balloons
7(a) Loan
Prepayment penalty may apply for loans with maturities of 15 years or more if prepaid during first three years (5 percent year one, 3 percent year two and 1 percent year three)
(504) Loan
Declining prepayment penalty will apply on the SBA-backed portion of the loan for the first 10 years of loan term, based on the loan amount and funding rate
Interested in connecting with a Business Lending Specialist to get a full understanding of how you can make an SBA loan work for you? Contact us:
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What are the interest rates for SBA loans?
Interest rates are indexed to the Prime Rate, and are based on multiple factors, including collateral, loan term, loan amount and business credit. Once you begin the loan process, your Business Lending Specialist can provide additional details on rates you may qualify for.
Business Lending rates and terms are subject to change and are offered with approved credit.
