PageContent1 Ideal for lines of credit or working capital loans for your business. Eligibility:Businesses that are: Owner-operated.Individual or doing business as (DBA)For-profit.Organized as a sole proprietorship, corporation or professional partnership.Businesses within the size guidelines established by the SBA under the North American Industry Classification System (NAICS). Features:50% SBA guarantee for up to 10 years.Line of Credit or Term Loan. Maximum Loan Terms:Commercial Real Estate up to 25 years.Lines of credit (5 years revolving and 5 years to repay the balance).Other purposes may vary from 5-15 years. Interest Rate:Attractive interest rates imposed by the SBA ranging between 3% and 6.50% over the Prime Rate depending on the financed amount. Fixed or variable interest rates available. Borrower’s Equity Injection:Term loans require a minimum down payment ranging between 10% to 15% of the cost of the project. Lines of credit do not require a minimum down payment. Business assets or real estate (commercial or personal) depending on purpose. Collateral Requirement:Business Assets and/or Real Estate, depending on loan purpose. Typical Use of Proceeds:Purchase machinery and/or equipment.Obtain working capital, finance accounts receivable, and purchase inventory.Make improvements to or purchase owner-occupied commercial property. Benefits:Longer maturity terms than conventional loans.Minimum debtor down payment for term loans Certain closing costs can be financed in the loan Requires less documentation than other programsWe are an SBA-authorized Bank under the Preferred Lender Program, where we approve the guarantee quickly and directly. For more information go to: http://www.sba.gov/content/sba-express Call Us 787-729-8258
