| | | | SBA LOAN PROGRAM BENEFITS
|
- Greater access to capital or more advantageous loan terms because of reduced risk to the bank
- Less cash down payment or equity required than conventional loan
- Longer amortization — more cash available to service debt and/or expand the business
- Access to long-term fixed rates for real estate transactions
- No renewal costs in 3 to 5 years
- Job creation
| SBA LOAN PRODUCT SUMMARY
|
SBA 7(a):
- Project Sizes — $50,000 to $5,500,000
- Eligible Projects — Owner-occupied real estate, ground-up construction, leasehold improvements, machinery & equipment, operating capital, and inventory
- Term/Amortization — up to 25 years
- Down Payment — as low as 10%
- Special Program for Medical Professionals offered — ask about!
- Express Line of Credit — up to $350,000 for established businesses
- Refinancing, start-ups and business acquisition financing available
SBA 504:
- Project Sizes — $500,000 to $10,000,000
- Eligible Projects — Owner-occupied real estate, ground-up construction, and machinery & equipment
- 50% of the project financed by a 1st lien conventional loan
- 30% to 40% of the project financed by a 2nd lien SBA loan
- Down Payment — 10% to 20%
- Interest Rate — Attractive, low 20-year fixed for SBA loan
| SBA LOAN FORMS
|
|
| |
| |
|
|
| |