COMMERCIAL SBA LOANS

SBA Commercial Financing for Owner Occupied Real Estate

SBA 504 Program:

The SBA 504 loan is designed specifically to finance fixed assets purchases such as a new building or a large piece of equipment. This loan program works as a partnership between the bank and an approved SBA lending partner licensed by the Small Business Administration to provide a highly leveraged, competitively priced loan option to your small business.

Some highlights of the SBA 504 Loan Program include:

Down payment as low as 10% preserving vital working capital, 90% Loan to Cost.
Low fixed and variable rates available
Long-term, fully amortized loans with no balloon payments
Project amounts up to $5,000,000
Real estate must be 51% owner occupied for existing buildings and 60% owner occupied for proposed construction

Eligible Borrowers:

For-profit, non-publicly traded businesses.
Tangible business net worth
Average net income of the business not to exceed $3 million over the previous two years.
Personal liquidity of each principal/guarantor not to exceed the total project costs of the proposed 504 loan.
Ownership must be comprised of 51% U.S. citizens or resident aliens (Legal Permanent Residents).

SBA 7(a) Program:

SBA 7(a) loans can be used for nearly any legitimate long term business borrowing need. Examples of typical loan uses include the purchase, construction or improvement of owner-user commercial real estate, business acquisition, business expansion, equipment purchase, debt refinance, working capital, and business start up.

Some highlights of the SBA 7(a) Loan Program include:

Financing options unavailable under conventional terms
Long-term financing (up to 25 years)
Fully amortized loans with no balloon payments
Low down payment to conserve working capital
Loan amounts up to $2,000,000
Quick approvals and closings.