Our Small Business Lending Team will work hard to see if your business qualifies for any of the program types listed below. Feel free to scroll through the page and see if any of these options will work for your business. As a preferred SBA Lender, we can help you with any questions you may have.

Program Types:


7(a)
Maximum Loan Amount - $5 million

Percentage of Guaranty – 85% Guaranty for loans $150,000 or less, 75% Guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)

Use of Proceeds – Term loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital, refinance debt, inventory, business acquisition

Maturity- Working Capital & machinery & equipment (not to exceed life of equipment) is 7-10 years; real estate is 25 years.

Maximum Interest Rates- 7 yrs or more: prime +2.75%; Prepayment penalty for loans of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2, 1% year 3)

Guaranty Fees- (Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Must be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.

Benefits to Borrowers- Long-term financing; improved cash flow; Fixed maturity; No balloons; No prepayment penalty (under 15 yrs)

USDA B & I

Maximum Loan Amount - $10 million

Percentage of Guaranty – 80%

Use of Proceeds – Term loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital, refinance debt, inventory, business acquisition.

Maturity- Working capital - 10 Yrs; Equipment - Useful Life; Real Estate - 30 Yrs

Maximum Interest Rates- WSJP + 2.75%

Guaranty Fees- 3% of the guaranteed portion of the loan

Who Qualifies - Must be a rural area with a population less than 50,000. Tangible net worth of 10% must be demonstrated on an existing business purchase or 20% for a start-up. 

Benefits to Borrowers
- Long-term financing; improved cash flow; Fixed maturity; No balloons; No prepayment penalty (under 15 yrs)


504 Loans

(Provided through Certified Development Companies (CDC's) which are licensed by the SBA)

Maximum Loan Amount - 504 CDC maximum amount ranges from $5 million to $5.5 million, depending on type of business.

Percentage of Guaranty – Project costs financed as follows: CDC: up to 40% Non-guaranteed financing: Lender: 50% Equity: 10% plus additional 5% if new business and/or 5% if special use property

Use of Proceeds – Long-term, fixed -asset loans; Lender (non-guaranteed) financing secured by first lien on project assets. CDC loans provided from SBA 100% guaranteed debenture sold to investors at fixed rate secured by second lien. Refinance (through 9/30/12)

Maturity- CDC Loan: 10 or 20 year term fixed interest rate. Lender Loan: (unguaranteed) Financing may be shorter term. May be fixed or adjustable rate.

Maximum Interest Rates- Fixed rate on 504 Loan established when debenture backing loan is sold. Declining prepayment penalty for 1/2 of term.

Guaranty Fees- .5% fee on lender share plus CDC may charge up to 1.5% on their share. CDC charges a monthly servicing fee of .625%-1.5% on unpaid balance. Ongoing guaranty fee (FY 2011) is 0.9375% of principal outstanding. Ongoing fee % does not change during the term.

Who Qualifies - Alternative size standard: for profit businesses that do not exceed $15 million in tangible net worth, and do not have an average two full fiscal year net income over $5 million. Owner Occupied 51% for existing or 60% for new construction. 

Benefits to Borrowers- Low down payment-equity (10%-20%) (The equity contribution may be borrowed) Fees can be financed; SBA portion: Long-term fixed rate; Full amortization; No Balloons

Small Loan Advantage (SLA) 

Maximum Loan Amount - $350,000

Percentage of Guaranty – 85% Guaranty for loans of $150,000 or less, 75% Guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)

Use of Proceeds – Term Loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital, refinance debt , inventory, business acquisition

Maturity- Working capital & machinery & equipment (not to exceed Life of equipment) is 7-10 years; real estate is 25 years.

Maximum Interest Rates- 7 yrs or more: prime +2.75%; Prepayment penalty for loans of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2, 1% year 3)

Guaranty Fees-(Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3.0%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Must be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.

Benefits to Borrowers- Long-term financing; improved cash flow; Fixed maturity; No balloons; No prepayment penalty (under 15 yrs)


SBAExpress

Maximum Loan Amount - $350,000

Percentage of Guaranty – 50%

Use of Proceeds – May be used for revolving lines of credit (up to 7 year maturity)or for a term loan. Term Loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital, refinance debt , inventory, business acquisition

Maturity- Up to 7 years for revolving lines of credit including term out period. Otherwise, Working capital & machinery & equipment (not to exceed Life of equipment) is 7-10 years; real estate is 25 years.

Maximum Interest Rates- Loans $50,000 or less: prime+6.5%; Loans over $50,000: prime+4.5%

Guaranty Fees-(Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3.0%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Must be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.

Benefits to Borrowers- Fast turnaround; Streamlined process; Easy to use line of credit

 

CapLines: Working Capital; Contract; Seasonal; and Builders CAPLines 

Maximum Loan Amount - $5 million

Percentage of Guaranty – 85% Guaranty for loans $150,000 or less, 75% Guaranty for loans greater than $150,000 (up to $3.75 million maximum guaranty)

Use of Proceeds – Finance seasonal and/or short term working capital needs; cost to perform; construction costs; advances against existing inventory and receivables; consolidation of short-term debts. May be revolving.

Maturity- Up to 10 years, except Builders CAPLine which is 5 years.

Maximum Interest Rate- 7 yrs or more: prime +2.75%; Prepayment penalty for loans of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2, 1% year 3)

Guaranty Fees- (Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Must be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business. All lenders must execute Form 750 & 750B (short term loans)

Benefits to Borrowers- 1. Working Capital- Revolving Line of Credit (LOC); 2. Contract-can finance all costs (excluding profit); 3. Seasonal-Seasonal working capital needs; 4. Builder-Finances direct costs with building a commercial or residential structure 


International Trade
Maximum Loan Amount - $5 million

Percentage of Guaranty – 90% guaranty (up to $4.5 million maximum guaranty) (up to $4 million maximum guaranty for working capital)

Use of Proceeds –Term loan for permanent working capital, equipment, facilities, land and buildings and debt refinance related to international trade. 

Maturity- Up to 25 years.

Maximum Interest Rate- 7 yrs or more: prime +2.75%; Prepayment penalty for loans of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2, 1% year 3)

Guaranty Fees- (Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3.0%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Must be a for profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business, plus engaged/preparing to engage in international trade/adversely affected by competition from imports.

Benefits to Borrowers- Long-term financing to allow small business to compete more effectively in the international marketplace

ExportExpress
Maximum Loan Amount - $500,000

Percentage of Guaranty – 90% guaranty for loans of $350,000 or less; 75% guaranty for loans greater than $350,000

Use of Proceeds – May be used for revolving lines of credit (up to 7 year maturity)or for a term loan. Term Loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, leasehold improvements; working capital, refinance debt , inventory, business acquisition. Standby letters of credit

Maturity- Up to 7 years for revolving lines of credit including term out period. Otherwise, Working capital & machinery & equipment (not to exceed Life of equipment) is 7-10 years; real estate is 25 years.

Maximum Interest Rates-  Loans $50,000 or less: prime+6.5%; Loans over $50,000: prime+4.5%

Guaranty Fees- (Fee charged on guaranteed portion of the loan only) Maturity: over 1 year, $150,000 gross amount or less=2%; $150,001-$700,000=3.0%; over $700,000=3.5%; 3.75% on guaranteed portion over $1 million. Ongoing fee of 0.55%

Who Qualifies - Applicant must demonstrate that loan will enable them to enter a new or expand in an existing export market. Business must have been in operation for at least 12 months (though not necessarily in exporting)

Benefits to Borrowers- Fast turnaround; Streamlined process; Easy to use line of credit


To find out if you are a candidate for a USDA or SBA loan, please complete the request for more information form here

Once we have reviewed your submitted form, an SBLD underwriter will contact you for additional information.