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Small Business SBA
Small Business SBA
Property/Business Types - Hotels, Motels, Gas Stations, Convenience Stores, Franchise, Fast Food, Car Washes and others.

SBA 504 Loans – Provides purchase financing to small businesses who are the primary users of their buildings. Rates are fixed over the 25-1st & 20-2nd year terms, assumable life of the loan. These loans cannot be used for refinancing.

  • Loan Size/Pricing
    • $500k to $10 million
    • Conventional 1st & FHLB + spread 2nd
  • Loan to Values
    • General pupose real estate - up to 90%
    • Special purpose real estate - up to 85%
  • Maximum Term (Fully Amortized)
    • Conventional first trust deed - 25 years
    • SBA second trust deed - 20 years
SBA 7(a) Loans – Used by small businesses for purchase, refinance and construction/renovation. Terms range from 7 to 25 years, depending on the type of project. However, these loans cannot be used for investment purposes.
  • Loan Size/Pricing
    • $500k to $2 million
    • Prime + 1.5-2%
  • Loan to Values
    • Real estate - up to 90% (less for special-use)
    • Business acquisition - up to 85%
    • Equipment acquisition - up to 100%
    • Debt refinance - up to 100%
    • Business start-up - up to 75%
  • Maximum Term (Fully Amortized)
    • Real estate purchase and refinance - 25 years
    • Business or equipment acquisition - 10 years
    • Working capital and inventory - 7 years

Guarantees - It may be requested that life insurance, equivalent to the amount of the debenture, be taken on the key borrower, especially in the case of a sole proprietorship. Personal guarantees are required on all individuals with 20% or greater ownership.