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SBA Loans

Putting customers first since 1901.

Our commitment to your small business goals.

We specialize in turning your small business dreams into a reality. Our Small Business Lending staff is committed to the growth and success of small businesses, and we are ready to help you take your business to new heights. Review our great selection of financial business solutions to see which program best suits your small business.

What are SBA Loans?

The U.S. Small Business Administration (SBA) is a federal agency committed to supporting the growth and development of small businesses by partnering with lenders to provide an SBA Loan. It is important to note that the SBA is not the loan provider. Instead, they work with other lenders to support and administer the loan. The purpose of the SBA is to establish the guidelines and guarantee a percentage of the loan in order to minimize the risk for their lending partners.

  • SBA Loans can be used for most business purposes such as:
    • Purchasing an existing business or open a new business
    • Refinancing business debt
    • Providing working capital
    • Acquiring inventory
    • Purchasing, constructing, expanding, or improving a building
    • Purchasing necessary equipment and machinery
  • Key Benefits:
    • Larger loan amounts
    • Longer, competitive terms 
    • Lower down payments
    • Continued support to help you run your business

Comparison chart for SBA Loans

Does your business qualify for one of the above SBA Loans?

SBA Loans have unique eligibility requirements. Typically, they are based on specific business operations, character of ownership, profit, and location. Even if you don’t have the best credit, you may still qualify for financing. The main eligibility requirements are:

  • Be a for-profit business
  • Be located in the United States
  • Meet SBA size standards
  • Have invested equity
  • Do not qualify for conventional financing

What additional info do you need to apply?

Congrats! You’ve decided to apply for an SBA Loan! You will need certain information to begin the application process. Prior to meeting with a lender, you can use this checklist to make sure you gather all the necessary documents and information:

  • Personal financial statement
  • Resumes
  • Business Plan
  • Income Tax Returns (for personal and business)
  • Interim Year-to-Date Business financial statements (less than 90 days old)
  • Bank statements
  • Collateral
  • Legal documents

For more information on SBA Loans or to apply contact

Photo of Jesse Bro
Jesse Bro
Senior Vice President
NMLS: 531609
 
Office: 254-554-4491
 

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