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Unlock the Right SBA Loan

Whether you're just starting a small business or expanding to take advantage of new opportunities, a loan through the U.S. Small Business Administration (SBA) may be right for you.

SBA Loans To Grow Your Business

As an SBA Preferred Lender, BankUnited can provide flexible financing with lower down payments and an easier path to approval so you can enhance cash flow and focus on growth.

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Experienced SBA Guidance

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Acquire a Business or Franchise

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Finance Equipment, Growth, & More

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Refinance an Existing Loan

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Flexible Terms Tailored to Your Needs

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May Offer More Flexible Qualification Requirements Than Certain Conventional Loan Programs

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SBA 7(a) Loan

The SBA 7(a) loan is a versatile small business loan designed to support a wide range of financing needs, from working capital to real estate. 


Why an SBA 7(a) loan?
  • Long repayment terms – reducing monthly payments
  • Down payments as low as 10%
  • Frees up cash for expansion
  • Financing available for various industries, including manufacturing, hospitality, and more

SBA 504 Loan

A smart option for major fixed assets, SBA 504 loans provide long-term financing for real estate and equipment with less equity required than a conventional loan.

 

Why an SBA 504 loan?
  • Low down payment of only 10%
  • Long repayment terms – reducing monthly payments
  • Frees up cash flow for growth
  • Flexible rate options, including fixed rates
  • Fees and soft costs may be financed
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Small Business Banking Resources

BankUnited supports entrepreneurs with tailored small business banking solutions designed to help manage cash flow and plan for growth. Our team delivers guidance and tools that align with your long-term goals.

From daily banking needs to strategic financing solutions like SBA loans, we equip your business with the resources to operate efficiently and expand with confidence.
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Flexible financing options

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Relationship focused support

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Additional Small Business Banking Solutions

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Business Checking Accounts

Manage daily cash flow with flexible business checking accounts designed for efficiency, convenience, and control. Access digital tools and support to keep your business running smoothly.

Learn More

Business Savings Accounts

Build reserves and plan for future expenses with business savings accounts that offer competitive rates and easy access to funds when needed.

Learn More

Treasury Solutions

Explore treasury management solutions designed to optimize cash flow, streamline payables and receivables, reduce risk, and support day-to-day financial operations with confidence.

Learn More

SBA Loans FAQs


Get answers to common questions about small business administration loans and how BankUnited can help you apply for an SBA loan.

SBA loans are small business loans partially guaranteed by the U.S. Small Business Administration, designed to make financing more accessible with flexible terms.

You can apply for an SBA loan by working with an approved lender like BankUnited, who will guide you through the SBA loan application and documentation process step-by-step.

An SBA 7(a) loan can be used for working capital, business acquisition, equipment purchases, refinancing, and commercial real estate.

SBA lending solutions offer lower down payments, longer repayment terms, and more flexible qualification requirements than many conventional small business loans.

For many businesses, SBA loans are considered among the best small business loans due to their favorable terms and broad range of uses.

Contact Us to Apply for an SBA Loan  


Connect with our team to explore the best small business loans for your needs. We are here to guide you through every step of the SBA loan application process.

Featured Insights

Get insights on starting and growing your business, managing cash flow, protecting your assets, stories from real clients, and much more.

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How the Right Small Business Loan Can Help

Jun 18, 2024, 09:55 AM
Title : How the Right Small Business Loan Can Help
Bank united author : BankUnited
Featured : No
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Learn how the right small business loan can help with employee costs.
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Expanding the workforce is widely regarded as a positive achievement for small businesses. The addition of employees signifies the company’s success and growth trajectory. Moreover, new hires can alleviate the workload on existing staff, allowing everyone to focus on tasks that align with their strengths, ultimately fostering overall company development.

In 2024, more than half (57%) of small business owners say that they expect to add jobs this year[1]. While this is a promising sign, there are things that business owners should keep in mind before determining when to add employees, as well as how many they might be able to hire.

A proposed rule may extend overtime pay to millions of salaried workers

Small business owners do everything in their power to pay their employees fairly. That’s probably one of the reasons why up to one-quarter of small business founders in a 2022 survey said that they didn’t pay themselves as they did their employees[2]. Now, a new Department of Labor proposal stands to make it even more difficult for small business owners to fit salary into their business budgets. If passed, the proposed rule would “restore and extend overtime protections to 3.6 million salaried workers[3].” While it’s only right that employees get paid properly for their work, the fact remains that if passed, small business owners will need to find a way to fit this increase in salary into their budget. One option is a small business loan. BankUnited’s SBA 7(A) Loan, for example, allows business owners to secure up to $5 million in funding for hiring, business expansion, or other business needs.

More employees might mean more space

As businesses expand and add employees, it may require that more space be needed to house the added staff. This is important to keep in mind, as 50% of small businesses said that they had plans to grow or expand their business in 2024[4]. Of course, expansion — whether through a rental property or acquiring your own space — takes money. Finding the right loan is essential to help small business owners meet their expansion goals without overextending themselves in other areas and falling into the red. An SBA 504 Loan with BankUnited, for example, provides up to $10 million in funding for purchase, construction or renovation of owner-occupied commercial real estate, all with long-term, fixed-rate financing, competitive interest rates and low down payment options.

Offering competitive salaries remains an obstacle for many small business owners

The right employees can make or break a business. But paying those employees can also have a huge impact on a business’ bottom line. For example, 45% of small business employers say that they searched for new talent in 2023, while 60% of those employers said that it was also hard to keep up with salary expectations[5]. This is just one more area where a small business loan can help owners free up cash in some other areas to cover the salaries that attract the right employees for the job. Using an SBA Express Loan from BankUnited may be a great way to cover equipment purchases or get some additional working capital to help float the business while you build up the essentials, like finding the right employees and expanding your space.

Small business owners have a lot on their minds. While 40% of small business owners say they consider 2024 to be a “make or break” year, half still said they’re expanding marketing efforts to bring in new customers, while 43% are exploring new technologies to help with efficiency and productivity[6]. Every decision a small business owner makes — whether seemingly large or small — can have a big impact on their bottom line. Luckily, the right small business loan can help owners stay afloat while they continue to focus on their growth. BankUnited is here to help in any way we can. Consider browsing our small business products and services to see what we offer, give us a call or stop by a branch today to speak with a Business Banking specialist.

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  • Small Business
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SBA 7(a) Loan

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; 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

SBA 504 Loan

Use of Proceeds:

  • Purchase, refinance, construction, or renovation of owner-occupied commercial real estate
  • Purchase and installation of long-life machinery and equipment 
  • 50% financing – first mortgage from BankUnited
  • 40% financing – SBA 504 second mortgage (provided through a local Certified Development Corporation)
  • 10% minimum down payment by the borrower (15% in the case of special use properties)

Terms:
Fixed and variable rates available.

First mortgage:

  • Up to 25 years, fully amortized
  • Prepayment penalty applies and is set based on various factors

Second mortgage:

  • 20 year, fully amortized
  • Fixed rate is determined at SBA-guaranteed 504 debenture sale

 

*Minimum borrower equity contribution varies based on loan structure, collateral, use of proceeds, borrower experience, and SBA program requirements

 

Interest rates, fees, and program terms vary based on loan structure, borrower qualifications, collateral, and SBA requirements.

 

All loans are subject to credit and property approval. Program not available in all states. Program terms and conditions are subject to change without notice. Other restrictions, limitations and fees may apply. All loans are offered through BankUnited, N.A. This is not a commitment to lend.