SBA 7a Loan Program
The SBA 7a loan program is the SBA's flagship program and can be used for most eligible and legal uses. The program has great latitude in loan structure, terms and conditions. SBA has specific guidelines in terms of eligibility that need to be followed but most businesses will be eligible. Real estate purchases require the owner operator to occupy a minimum 51% of the property and title can be taken in another entity to assist with the business owner's tax situation.
SBA Express Loan Program
This program allows a small business to obtain a line of credit for the business that will be termed out after a period of time which allows for a balance between short term and long term needs while serving as a vehicle to assist a business to grow.
SBA 504 Loan Program
The SBA 504 program is designed for the purchase of real estate and large equipment for use in the business. In this program there is a blend of the customer's injection, a loan from First Choice Bank and a long term loan provided by the SBA. The SBA portion is facilitated through an intermediary known as the Certified Development Company which is licensed through the SBA.
Call today to speak with our skilled SBA professionals to assist you with your SBA loan request.
SBA Department: 844-315-7855