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SBA Loan

Small Business Administration (SBA) Loans

Why is supporting small business growth so important to Commerce?


Small businesses have long been the backbone of the American economy. Healthy businesses not only create jobs and opportunities, but are also an important part of our communities.

One of the greatest challenges many businesses face is accessing the capital they need to finance growth opportunities. SBA loans are an extremely valuable solution for our business customers.

As an SBA designated Preferred Lender, Commerce can offer you benefits not available through the general SBA process. What does that mean for you? With the ability for Commerce to approve SBA loan requests in-house, the turnaround time is drastically reduced, saving you weeks of waiting. And we all know that when it comes to business, time is money.

SBA loans can have great advantages over conventional loans, including:

  • Longer repayment terms allow for lower monthly payments to improve cash flow, with no balloon payments
  • Lower down payments make upfront costs more affordable
  • Competitive interest rates can be fixed or variable
The SBA has released new debt relief assistance guidelines, including possible fee waivers, in accordance with the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) and the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”) that may be available to businesses with a loan in one of the SBA’s business loan programs. This assistance is not available to loans made under the Paycheck Protection Program.

The right SBA loan to meet your financing needs.


SBA 504 Program

  • Designed for fixed-asset acquisitions, such as real estate or equipment
  • Long-term, favorable fixed-rate financing
  • Low down payments allowing you to retain liquidity to fuel growth
  • SBA fee waivers for 504 loans approved through 9/30/2021
  • Potential SBA Payment Assistance available under Section 1112

SBA 7(a) Program

  • Equipment purchases
  • Commercial real estate
  • Business acquisition and expansion
  • Working capital
  • Refinance of debt
  • Up to $5,000,000
  • SBA fee waivers for 7(a) loans approved through 9/30/2021
  • Potential SBA Payment Assistance available under Section 1112

SBA Express

  • Loans up to $350,000
  • Less complex term loans and revolving lines of credit
  • Quick turnaround and less documentation

SBA Export Working Capital Program

  • Designed for businesses with current and potential exports
  • For short-term working capital needs
  • Loans up to $5,000,000

To read more about temporary fee reductions on eligible 7(a) loans and an increase in the maximum SBA Express loan amount, click here. To read more about possible 504 Program fee waivers made possible by the Economic Aid Act, click here.

Additional resources from the SBA.

SBA Business Size Standards

Review business size and industry NAICS code standards that qualify a business for SBA programs.

Get details

SBA Funding Programs

Learn more about other funding programs offered directly through the SBA.

Get details

SBA Disaster Loans

In addition to PPP, learn more about Disaster Assistance options directly through the SBA.

Get details