Looking for a small business loan to get the working capital you need? We can help.
Small Business Administration Learning Center
- Term loans – secured by business equipment
- Fleet vehicle loans
- Working capital loans – secured by business assets
- Commercial real estate loans
- Business credit cards
- Veterans’ Advantage Loan – guarantee fee waived for loan amounts under $350,000
- SBA loans – see below
- SBA 7(a) loans – Includes veteran-owned business loans. Proceeds may be used for:
- Working capital
- Qualified debt repayment
- Purchase of land/building, machinery
- Equipment or inventory
- SBA 504 loans – A long term/fixed-rate financing tool for major fixed assets such as land and equipment for a business location. Proceeds may be used for:
- Purchase of land (including existing buildings)
- Equipment and improvements (including grading, street improvements, utilities, parking lot and landscaping)
- Construction of new facilities or modernizing, renovating or converting existing facilities
- SBA Express loans – this loan features an accelerated turnaround time for SBA review. $350,000 maximum loan amount and expedited processing and closing.
There are a few requirements that must be in order for your business to qualify for an SBA loan:
- Applicant must be eligible (For profit business owned and controlled by a US citizen or legal permanent resident, no visas).
- Repayment ability comes from the cash flow of the business.
- Applicant must be of good character (Both credit and criminal history).
- Collateral purchased from loan funds and personal guaranty generally secure the loan.
- Owner’s personal equity contribution.