Home

SBA 7 (a) Loan / Preferred Lender Program

Call Us 787.729.​8258​​
Commercial Banking Financing Government Guaranteed Loans (SBA) SBA 7 (a) Loan / Preferred Lender Program

​​​​​​​​​​​​​​​​​​​​The main SBA loan program.

Helps small businesses get financing when there is no option available through other mediums.


Eligibility:

  • Businesses that are:

    • Owner-operated.

    • ​Individual or Doing Business As (DBA).

    • For-profit.

    • Organized as a sole proprietorship, corporation or professional partnership.

    • Unable to secure other credit under reasonable terms.

  • Businesses within the size guidelines established by the SBA under the North American Industry Classification System (NAICS).


Features:

  • Loan amounts up to $5,000,000.

  • SBA provides up to 85% guarantee.

  • No prepayment penalties for loan terms less than 15 years.

  • Term Loan.

Maximum Loan Terms:

  • Commercial Real Estate up to 25 years.

  • Other purposes may vary from 5 - 15 years.

Interest Rate:

  • Variable or fixed interest loans available.

Borrower’s Equity Injection:

  • At least 10% of the total project cost.

Collateral Requirement:

  • Business Assets and/or Real Estate, depending on loan purpose.

Typical Use of Proceeds:

  • Startup, expansion or business acquisition.

  • Purchase of machinery and/or equipment.

  • Working capital.

  • Purchase of inventory.

  • Owner-occupied commercial real estate.

  • Refinancing existing obligation (some restrictions apply).

Benefits:

  • Longer maturity terms than conventional loans.

  • Low injection from borrower’s personal funds.

  • SBA fees can be financed into the loan.

  • We are a preferred lender, so we make the loan decisions under the SBA guidelines.

For more information: http://www.sba.gov/category/navigation-structure/loans-grants /small-business-loans/sba-loan-programs/7a-loan-program

Call Us 787.729.​8258​​

All loans are subject to credit approval.

All loans are subject to credit approval.​