Small Business Administration Loans (SBA Loans)
Financing that’s tailor-made for smaller businesses.
Small Business Administration loans,1 or SBA loans, are designed with your entrepreneurial dreams in mind. Supported by the U.S. Small Business Administration, this small business loan is a more accessible option to get the capital you need and put your plans into motion. With our bankers on your side, we can create personalized SBA loan solutions for growing businesses looking to acquire and/or renovate owner-occupied real estate and equipment, augment working capital, finance receivables, consolidate debt, and more—with possible longer repayment terms and a lower monthly payment.
If you want to determine whether a business loan is right for you, check out our Business Loan Calculator.
FEATURES YOU'LL LOVE:
- SBA loan amounts up to $5,000,000
- Fixed or variable interest rates
- May provide smaller down payment requirements than conventional financing
- No prepayment penalties for loans under 15 years
- Lower monthly payments with terms up to 25 years
- No balloon payments
- Higher loan-to-value ratios may be available
- Revolving lines of credit
- Fees may include annual line fee (applies to line of credit only), SBA packaging fee, and/or SBA guarantee fee (may be waived on certain loans)
TO BE ELIGIBLE FOR AN SBA LOAN, YOUR BUSINESS SHOULD:
- Meet established lending requirements and obtain credit approval
- Be established for at least two years
- Have a satisfactory business and personal credit history
- Be profitable with sufficient cash flow to meet both your new and current financial obligations
- Have adequate business income to support the term loan with no reliance on investment income
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1Subject to credit review and approval. Additional documentation may be required to obtain SBA financing. Must be eligible under SBA guidelines. Loan repayment via auto-debit from a First Commercial Bank checking account is required for all loans.