GOVERNMENT GUARANTEED LENDING
The capital you need to fuel your small business
So you’re starting or growing a small business…
An SBA or USDA Loan is a great way to obtain capital to fuel your small business.
Now, let’s look at our SBA and USDA options
SBA 7(a) Loan
SBA 7(a) Loan
Get capital with longer terms and amortization that can help to shrink payments and potentially free up additional cash flow.
How you can use it
- Expanding, renovating or leasehold improvements
- Purchasing land and buildings
- Purchasing equipment, machinery or furniture/fixtures
- Working capital or inventory
- Financing start-ups
- Acquisitions
- Refinancing business debt
How you can qualify
- Your business must be defined as a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment
- Lending companies
- Pyramid sales companies
Loan details
- Loan amounts are available from $350,000 to $5 million
- For loan requests above $5 million, companion non-SBA financing may be available
- Loan terms:
- 25 years for real estate
- 10 years for all other purposes
- If real estate makes up at least 51% of the total use of proceeds, the term of the loan can go up to 25 years
- If real estate is less than 51% then a blended loan term may be offered
International Trade Loan
International Trade Loan
Make investments to enter or expand into international markets, or provide capital to compete effectively against import competition.
How you can use it
- Acquiring, constructing, renovating, improving, or expanding facilities/equipment in the U.S that are used in international trade
- Refinancing debt that has been structured with unfavorable terms and conditions
- Working capital
- Fixed assets
How you can qualify
- You must establish that the International Trade Loan will:
- Enable your business to enter or expand internationally
- Help your business offset the negative effects of import competition
- You must be a direct or indirect exporter (a business that sells its products to another business that then sells the products to a foreign buyer)
Loan details
- Loan amounts available up to $5 million
- For loan requests above $5 million, companion conventional financing may be available
- Loan terms:
- Real estate up to 25 years
- Equipment up to 10 years (unless the useful life exceeds 10 years)
- Working capital up to 10 years
SBA Express Line of Credit
SBA Express Line of Credit
Access a revolving line of credit to help manage your cash flow needs. This line is available to applicants that are also obtaining an SBA 7(a) Term Loan at the same time.
How you can use it
- Inventory purchases
- Improvements to business cash cycle
- Short-term working capital
- Supports business seasonality
How you can qualify
- Your business must be defined as a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment
- Lending companies
- Pyramid sales companies
Loan details
- Revolving working capital financing is available for up to $350,000
- Term of the line is 10 years, with the first 5 years being used for revolving cash needs, and the balance is termed out over the remaining 5 years
USDA B&I Loan
USDA B&I Loan
Start or grow a business in a rural area with the USDA Business and Industry (B&I) Loan designed to assist rural businesses in obtaining needed credit for most business purposes.
How you can use it
- Business acquisitions, conversion, expansion, repair, and development
- Purchase of equipment, machinery, leasehold improvements, supplies or inventory
- Purchase and development of land, easements, right-of-way, building or facilities
- Startup costs and working capital
- Debt refinancing under certain conditions
How you can qualify
- Your business must be located in a rural area as defined by the USDA
- Eligible ownership structures include partnerships, individuals, cooperatives
- For-profit and non-profit corporations, including publicly-traded companies, tribal groups or public bodies are also included
- Any size business may be eligible, but there are certain industries that may be ineligible, including but not limited to:
- Golf courses
- Racetracks or gambling facilities
- Churches or charitable organizations
- Agricultural production, with certain exceptions
Loan details
- Loan terms:
- Real estate up to 30 years
- Equipment up to 15 years, or useful life, whichever is less
- Working capital up to 7 years
- Loan amounts are available up to $25 million
USDA Community Facilities Loan
USDA Community Facilities Loan
Get essential assistance to build or make improvements to key community facilities in rural areas.
How you can use it
- Health care facilities such as hospitals, medical clinics, dental clinics, nursing homes or assisted living facilities
- Public facilities such as town halls, courthouses, airport hangars or street improvements
- Community support services such as child care centers, community centers, fairgrounds or transitional housing
- Public safety services such as fire departments, police stations, prisons, police vehicles, fire trucks, public works vehicles or equipment
- Educational services such as museums, libraries or private schools
- Utility services such as telemedicine or distance learning equipment
- Local food systems such as community gardens, food pantries, community kitchens, food banks, or greenhouses
How you can qualify
- The proposed facility must provide necessary services and aid in the development of a primarily rural community
- Applicant must not operate as a private, commercial business
- Eligible borrowers are comprised of public bodies, community-based non-profit corporations and federally recognized tribes
- Eligible areas with at least 20,000 in population, but no more 50,000, including cities, villages, townships, towns and federally recognized tribes
Loan details
- Low interest direct loans
- Grants
- A combination of the two above. These may be combined with commercial financing to finance one project if all eligibility and feasibility requirements are met.
SBA 504 Loan
SBA 504 Loan
Get assistance in the purchase of commercial real estate, machinery and equipment.
How you can use it
- Purchase of land and land improvements
- Acquisition of existing building
- New construction
- Fixed assets from business acquisition
- Building expansion or renovation
- Long-term equipment
- Debt refinance
How you can qualify
- Businesses must be considered a small business by the SBA and be operating for profit within the U.S. or its territories
- The loan must be used for a sound business purpose
- Most types of businesses are eligible. Exceptions include but are not limited to:
- Real estate investment companies
- Lending companies
- Pyramid sales companies
Loan details
- Loan amounts available up to $13 million
- Interest rate and terms
- Fixed interest rate (typically below the market rate)
- The Interest rate locks when the SBA funds the second mortgage
- Fully amortized over life of loan (no balloon)
- Real estate may be up to a 25-year term
- Machinery and equipment may be 10-year term, or longer (based on useful life)
Ready to get started with an SBA or USDA Loan? Let’s start a conversation.
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