What is an SBA Loan?
It is a government-backed loan. The SBA (Small Business Administration) works with lenders to provide a partial guarantee of the outstanding loan balance to reduce the lender’s risk and increases small business lending which helps to expand small business economic activity.
Benefits of SBA Loans?
o Easier qualifications than conventional loan
o Lower down payments
o No balloon payments
o Longer terms/lower payments
o Flexible repayment terms
o Designed for businesses with collateral that might not meet convention lending standards
o No advance formula
o No fees over term of loan
o Less covenants
o Advantages to Veterans
Type of Loans
Business Term Loans – When you need long-term financing and/or have a one-time expense, we can customize a business term loan to fit your particular situation.
Business Lines of Credit – If cash flow tends to fluctuate, we offer several business lines of credit as a convenient and flexible way to help finance your short-term business needs.
Equipment Authorizations – Credit line with predetermined limits used to finance equipment.
Commercial Real Estate Loans – We offer owner occupied real estate financing to ensure you have the room to grow your business or need to refinance your existing real estate.
Non-owner Occupied Real Estate Financing for Investment Properties – We offer owner occupied real estate financing to ensure you have the room to grow your business or need to refinance your existing real estate.
Small Business Administration (SBA) Loans – SBA loans are government-backed loans available through The State Bank. These loans offer longer terms, lower payments, flexible repayment terms and are designed for businesses with collateral that may not meet conventional lending standards.
To learn more about SBA Loans: