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 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 7(a) Program
- Equipment purchases
- Commercial real estate
- Business acquisition and expansion
- Working capital
- Reﬁnance of debt
- Up to $5,000,000
- 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
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
Questions? We’re up for the challenge.