Compare SBA Loan Options

Compare Your Loan Options

Our experienced team of SBA Lenders will help you determine the right loan2 for your business.

Which SBA Loan Works For Your Business?

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SBA 7(a) Small

From $50,000-$500,000

SBA 7(a) Standard

From $350,000 up to $5 Million

SBA 504

Structure
  • Online application and streamlined processing.
  • Prequalification in five minutes.
  • Approval times in as few as two weeks.
  • Loan structure varies, depending on use of proceeds.
  • 100% financing of new equipment and vehicles.
  • Fully amortizing.
  • Varies – depending on the use of proceeds. 
  • 10% down payment generally required. 
  • Fully Amortizing.
  • 50% 1st Mortgage/Lien Bank Loan
  • 40% 2nd Mortgage/Lien SBA 504 Loan
  • 10% Down Payment
Term
  • Up to 25 years.
  • 25 years for Real Estate.
  • 10 years for Goodwill, Equipment, Working Capital in most cases.
  • Term can be blended across several asset classes.
  • Up to 25 years.
  • 25 years for Real Estate
  • 10 years for Goodwill, Equipment, Working Capital in most cases.
  • Term can be blended across several asset classes.
  • 10 year balloon on bank 1st Lien with an amortization schedule of up to 25 years.
  • 25 years fully amortizing SBA 504 2nd Lien.
Use of Proceeds
  • Refinance Existing Debt.
  • Purchase Equipment and Machinery.
  • Provide Working Capital.
  • Leasehold Improvements.
  • Purchase Inventory.
  • Purchase Commercial Real Estate.
  • Acquire an Existing Business, including Goodwill.
  • Buyout a Business Partner.
  • Start a Business or Franchise.
  • Acquire an existing business, including goodwill.
  • Start a Business or Franchise.
  • Purchase or Construct Commercial Real Estate.
  • Refinance Existing Debt.
  • Purchase Equipment and Machinery.
  • Provide Working Capital.
  • Construct Leasehold Improvements.
  • Purchase Inventory.
  • Purchase or Construct Commercial Real Estate.
  • Purchase or Improve Commercial Real Estate.
  • Purchase Equipment.
  • May only be used for fixed asset financing- Real Estate and Equipment/Machinery.
Program Requirements
  • FICO score of 660 or greater.
  • Debt service coverage of 1.15x.
  • Score-based Approval on Loans up to $100,000.
  • 51% Owner Occupancy of Commercial Real Estate.
  • 80% Occupancy on new construction.
  • Equipment is amortized over 10 years or its documented useful life.
  • 51% Owner Occupancy.
  • 80% Occupancy on new construction.
  • Equipment financed for up to 10 years.
Collateral
  • 1st lien on Subject Assets acquired/financed with loan proceeds.
  • 1st Lien on Subject Assets acquired/financed with loan proceeds.
  • Personal Guarantees of 20% or more equity in the personal real estate.
  • Life Insurance may be required.
  • 1st Lien on Subject Fixed Assets acquired/financed with loan proceeds.
  • Personal Guarantees of 20% or more owners.
  • Life Insurance may be required.
Fees
  • Packaging fee of 1%, up to $2,500 (whichever is less).
  • Fees are financed in the loan.
  • SBA Guaranty Fee – Averages 2.5%+/- of the loan amount.
  • Self-Funding Program.
  • Fees are financed in the loan.
  • 2% of the 2nd Lien Amount – SBA Fee.
  • Bank Fees Vary, 1% of the 1st and 2nd lien is typical.
  • Fees can be financed in the loan.
Rates
  • Variable at Wall Street Journal Prime + 2.75%.2
May be fixed or variable.
  • 1st Lien Rates may be fixed or variable.
  • 504 2nd Lien offers a low fixed rate for up to 25 years.

  1. All loans are subject to credit approval. 
  2. Margin subject to change without notice

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