Summary

Small Business Administration (SBA) loans are a specific type of commercial loan that is guaranteed by the U.S. Small Business Administration. SBA loans reduce the risk associated with lending money to business owners and entrepreneurs who may not qualify for traditional commercial financing. There are two major types of SBA loans. SBA 7(a) loans are general purpose business loans that can cover everything from real estate, business, and equipment acquisition, debt refinancing, and permanent working capital. SBA 504 loans primarily cover real estate and equipment acquisition for the purpose of community development. SBA loans are a great way to get the financing you need for your business without having to meet the stringent requirements that come with most commercial loans. Getting an SBA loan for your small business has never been easier and there are multiple options which fit almost every financial need your business may have today.

Advantages to Small Business Administration Loans

 

  • Loan Amounts Up To $5 Million - Get the funds you need to start or grow your business.
  • Flexible Loan Terms - Loan terms up to 25 years for real estate, 10 years for equipment, and 7 years for working capital.
  • No Future Balloon Payments - SBA loans have products that don’t require you to pay off the loan prior to the end of the amortization period.

Small Business Administration Loan Requirements

There are several requirements you will have to meet in order to qualify for a SBA loan.  In order to obtain a SBA loan, you will want to understand what your specific business need is and have supporting documentation for your business to demonstrate qualification.  If you are looking to make a new commercial property purchase using a SBA loan, the first step of this process is to get pre-approved.  If you are looking to refinance your existing SBA loan, speaking to one of our licensed loan officers will help you determine your eligibility so you can get your current SBA loan refinanced.  

Small Business Administration Loan Options

  • Short Term and Long Term Loans Available.
  • Loan To Values Up To 90% LTV (depending on property type).
  • Fixed and Adjustable Rates Available.

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