Loan Programs

Borrower Benefits:

  • Long repayment terms – reducing monthly payments
  • Frees up cash to expand your business
  • Low down payment of as little as 10% on multipurpose real estate acquisitions and as little as 15% on single-purpose real estate acquisitions
  • Financing available for most industry types including: manufacturers, hotels/motels, gas station/convenience stores, restaurants, assisted living facilities, and daycares

Loan Amounts:

  • Up to $5,000,000

Use of Proceeds:

  • Real estate – purchase, construction, renovation or refinance of commercial real estate - majority of space must be owner-occupied; loans up to $5 million
  • Business acquisition – business, franchise or professional practice; loans up to $5 million
  • Machinery & equipment – purchase or refinance; loans up to $5 million
  • Start-up – franchised businesses, such as restaurants and hotels; loans up to $5 million

Terms:

  • Real estate – up to 90% financing, up to 25 years, prepayment penalty for initial 3 years (none after the end of year 3)
  • Business acquisition – up to 80% financing, up to 10 years, no prepayment penalty
  • Refinance – up to 25 years, prepayment penalty applicable for initial 3 years on terms greater than 15 years
  • Rates are based on a spread over the Prime Lending Rate (rates vary depending on the specific strengths of the transaction)
  • SBA Guarantee Fee is paid directly to the U.S. Small Business Administration; amount varies based on loan/guarantee amount; other customary fees also apply
  • All SBA 7a loans are fully amortized and are assumable

Pre-Screen:

  • Pre-screen service available within 24 hours with no charge or obligation by providing limited information