SBA Lending Overview

• Purchasing business equipment
• Hiring and training new employees
• Opening a new location
• Expanding or renovating your current location
• Updating computer hardware or software
• Refinancing existing business debt
• Purchasing commercial real estate

• Purchasing existing buildings.
• Purchasing land and land improvements.
• Construction of new facilities or renovating existing facilities.
• Purchasing long-term machinery.
• Refinancing of debt in connection with an expansion of the business through new or renovated facilities or equipment.

504 Loans are typically structured with SBA providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs.

• Existing as well as startup businesses are eligible.
• Must be a business with limited financial resources or located in an undeserved community.
• Purchasing inventory, equipment, working capital, etc.
• Rates start at prime plus 3%.
• Terms of up to 25 years.
• No prepayment penalty.

• Existing as well as startup businesses are eligible.
• Purchasing inventory, equipment, working capital, etc.
• Interest rate starts at 6% fixed at closing for the life of the loan.
• Terms of up to 6 years.
• No prepayment penalty.
• $30 application fee.

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