SBA loans can be a powerful tool when you’re ready to grow your business. By financing 90% or more of your expansion, you can retain essential capital in your day-to-day. Our 10- to 25-year term options help keep your monthly payments low and our 3- and 5-year fixed rate options help you manage risk that comes from rate volatility.
An SBA 7(a) loan allows you to finance real estate, a like or complimentary business, leasehold improvements, additional FF&E or machinery, and working capital to help manage transition costs and operations – all bundled in one long-term loan.
Solutions
- Open additional locations
- Acquire a larger building
- Expand your current facility
- Acquire a like or complimentary business
Benefits
- Lower equity requirements & longer terms
- Quarterly variable, 3 or 5-year fixed rate options
- No loan covenants & no deposit requirements
- One loan for many business needs
Pre-Application Checklist:
When you’re ready to get started, please reach out to one of our Business Development Officers. We’ll ask you for the following documents in our initial call.
- Estimated project costs
- Three years of tax returns, interim financial statements on existing business(es) including Income Statement, Balance Sheet, Debt Schedule
- Projected Income statement post expansion – first two years
- Three years personal tax returns – all owners 20%+
- Personal Financial Statement – all owners 20%+