With Small Business Administration (SBA) loans, clients find greater flexibility for many uses such as acquiring a business, making payroll, paying bills, buying equipment to take advantage of new opportunities, and more. As an SBA-designated Preferred Lending Partner, First Business Bank is recognized as a top-tier SBA provider, helping you navigate the SBA loan approval process more efficiently.
The Small Business Administration (SBA) approved non-profits and businesses to receive low-interest Economic Injury Disaster Loans (EIDL) to help them recover from the COVID-19 pandemic. EIDL loans are offered directly through the SBA, not through banks. Details on the EIDL loans include:
A popular small business loan program, the 504 loan provides security of longer amortization and fixed-rate financing — without frightening balloon payments. It also features 90% financing, which makes it desirable to small business owners. This loan can be used for fixed assets and related costs that promote the growth and development of your business, including:
• Buying land, including existing buildings
• Making improvements, including grading, street improvements, utilities, parking lots, and landscaping
• Building new facilities or modernizing, renovating, or converting existing facilities
• Buying long-term machinery or equipment
With a maximum small business loan amount of $5 million, the 7(a) loan is attractive to many owners of small-to-medium sized businesses who use them to fund their new business and capital needs. With favorable repayment terms and fixed interest rates, they’re a predictable source of capital to improve cash flow and start or expand your business. Our seasoned small business loan experts can help you navigate the requirements of getting a 7(a) loan for:
• Establishing a new business
• Acquiring an existing business
• Long-term working capital for operational expenses, accounts payable, purchasing inventory
• Short-term capital needs for seasonal financing, construction financing, and exporting
• Purchasing equipment, machinery, furniture, supplies, and real estate
• In some cases, refinancing existing business debt
Developed to save and create jobs in rural areas, these small business loans provide funding to rural businesses. If you’re planning improvements in your business in a rural area, our small business loan experts will help you investigate the benefits of this loan and your eligibility. It can be used by business owners looking for financing for:
• Expanding, repairing, modernizing, or developing your business
• Purchasing and developing land, easements, rights-of-way, buildings, or facilities
• Purchasing equipment, leasehold improvements, machinery, supplies, or inventory
• Refinancing debt when it improves cash flow and creates or saves jobs
• Making business and industrial acquisitions that will create or save jobs
Growing your import business or expanding and modernizing to match foreign competition are two prime uses of the International Trade Loan Program. Your business can receive up to $5 million in small business loans through the program for multiple improvements, including working capital for export transactions. With up to 90% financing, flexible eligibility requirements, longer-term amortization, and fixed-rate financing, businesses often use the International Trade Loan Program for:
• Acquiring, constructing, renovating, modernizing, improving, or expanding facilities or equipment in the United States to produce goods or services involved in international trade
• Working capital
• Developing new foreign markets for your products or business
• Refinancing an existing loan
Two business partners are starting a family entertainment center, a start-up franchise location, and they have more than 20 years of local industry experience between them. We we’re able to help these business owners by…
The owner of a gas station/convenience store needs to refinance a loan with a large balloon payment. Margins on gas typically are low, and external factors, like road construction, can dramatically impact the business’s cash…
SUCCESS STORY THE SITUATION: FAMILY WANTS TO BUY PROFITABLE BUSINESS A husband, wife, and son team has over 30 years of combined experience in an industry and finds the perfect…
Portfolio Manager - SBA Lending
First Business Bank
Senior Client Relationship Specialist – SBA
First Business Bank
Client Relationship Specialist - SBA
First Business Bank
LET US HELP YOU DETERMINE WHICH LOAN IS RIGHT FOR YOU
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