Small Business Lending
Time is money for a small business owner — simplify and expedite your application and approval process with SBIC. As an SBA Preferred Lender, we can streamline the process and have the authority to make the final credit decision, underwriting our own SBA-approved loans. Stop by one of our convenient neighborhood branches today — applying is easy and our knowledgeable consultants can help you navigate the approval process to expedite decision-making.
SBA 7(a) Loan Program
The only difference between this financing option and conventional financing is the government guarantee, which can be up to 85 percent of the loan amount. A 7(a) loan has competitive rates on amounts up to $5,000,000 with as little as 10 percent down, subject to credit decision, and terms ranging up to 25 years, depending on the funding’s purpose. You can use the money to:
- Buy or refinance commercial real estate
- Expand business operations
- Acquire an existing business
- Increase working capital
- Refinance debt
- Purchase inventory, new or used equipment, and other strategic acquisitions
SBA 504 Loan Program
This financing option is available for the purchase of commercial real estate projects exceeding the $5,000,000 loan size of the 7(a) program. The 504 loan has competitive fixed interest rates and, depending on the type of property, up to 90 percent of the total project cost or appraised value of the property can be borrowed when the remaining amount is cash injected by the borrower.