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SBA Loans
The Small Business Administration offers financing incentives so that small businesses can get the money they need for real estate, equipment, construction, and working capital. Our SBA-certified lenders will help you navigate the application and approval process to help your business get cash as fast as possible.
What is an SBA Loan?
Although the SBA offers a range of financial service products, the two most popular loans are the SBA 7(a) and the SBA 504. The two loans have similar qualification requirements, allowed uses, and interest rate limits. However, they’re different in a few key features.
The SBA 504 loan can be used for real estate, equipment, and construction purposes. You must apply for the loan through a Certified Development Company, a local non-profit authorized by the SBA. The funding is made up of a 10% down payment, 40% from the SBA, and 50% from a private lender, which allows you to get 90% financing.
The SBA 7(a) loan is the more flexible of two, as it can cover the same expenses as its counterpart, with the addition of working capital. Applications for this loan go through private lenders. Our vast network of lending partners includes those who specialize in small business loans, with rates that conform to SBA guidelines.
Types of SBA Loans
Real Estate
Get the financing to make purchasing new real estate for your business a reality. Use the funds to buy or renovate property for resale or owner-occupation. Funds can also be put toward acquiring land or refinancing an existing real estate loan.
Equipment
Purchase long-term machinery or refinance an existing equipment loan with an SBA 7(a) or 504. When you rely on your equipment to keep business moving, talk to one of our SBA-certified experts today.
Working Capital
Onboard new personnel, update computer software, move inventory, or launch your social media campaign all with the help of an SBA 7(a). If your business needs it, chances are a 7(a) will cover it. Work with our SBA lenders to discover the benefits of this flexible loan.
Advantages of SBA Loans
- No balloon payments.
- Fixed interest rates for SBA 504 loans.
- Free up working capital to put back into your business.
- SBA 7(a) loans can be approved in just a few days.