Business Loans at Premier Business Bank

SBA Loans

Carol-Lowry-242x321
Carol Lowry - SVP, SBA Division Manager

A Smart Way to Grow Your Business with the Lowest
Down Payment.

SBA loans are one of the best tools available to small businesses to help them achieve financial success. These loans are part of a program offered by the Small Business Administration and are guaranteed in part by the U.S. Government. SBA loans generally provide businesses with certain benefits not available with traditional commercial loans offered by lenders, such as lower down payments, significantly lower interest rates, and longer loan terms.

At Premier Business Bank, we have an experienced team of corporate bankers who are focused on helping our clients obtain SBA financing. We can help you choose the right SBA loan that works for your business and growth needs.

 

Recent Loan Closings — October 15, 2014

Van Nuys

SBA - 7A
Operating Line & Term Loan

$750,000

La Habra

SBA – 7A
Motel Refinance

$700,000

 

Below is list of the types of financing offered through the SBA.

  • Loans for moving expenses, build out of new owner-occupied office, or medical tenant improvements
  • Practice loans to doctors & dentists to expand or buyout partners
  • Surgery centers
  • Urgent care centers
  • Nursing homes, including assisted living facilities
  • Restaurants for start-ups or to expand existing business
  • Franchise opportunities
  • Hotels and motels
  • Manufacturers
  • Start-up businesses
  • Insurance agents for expansion
  • Realty companies
  • Purchase of an existing business
  • Purchase owner-occupied office condominiums
  • Special purpose loans; such as funeral homes
  • Owner-occupied real estate
  • Equipment
  • Inventory
  • Working capital
  • Furniture and fixtures
  • Leasehold improvements
  • Debt refinance

The most popular SBA loans for small business owners are the SBA 7(a) and SBA 504 loans. These loan programs vary based on the type of financing you are considering for your business.

SBA 7(a) Term Loan

Best match for borrowers who need longer term loans to fund expansion, manage working capital, and business and real estate acquisitions. To be eligible for the 7(a) loan a business cannot have a tangible net worth that exceeds $15 million and an average net income of greater than $5 million over the past two years.

  • Benefits – Generally easier to qualify; longer maturity terms; lower down payment on fixed assets
  • Standard Terms – Working capital and equipment up to 10 years, real estate up to 25 years
  • Loan Amounts – Up to $5 million
  • Structure – SBA guarantees up to 75% with guaranteed portion capped at $3.75 million
  • Pricing – Fixed and variable rate options

SBA 7(a) Small Loan Advantage (SLA) Term Loan

Best match for borrowers who need long term lower dollar loans for a start-up, a younger business, equipment, inventory, leasehold improvements, furniture & fixtures, working capital, etc.

  • Benefits – Easier to qualify; no personal residence guaranty required, easy two-page application, and fast approval process
  • Standard Terms – Business use up to 10 years and real estate up to 25 years
  • Loan Amounts – Up to $350,000
  • Structure – SBA guarantees up to 85% for loans of $150,000 or less; 75% for loans over $150,000 up to $350,000
  • Pricing – Variable rate options

SBA 504 Term Loan

Best match for borrowers who are planning to expand business through land acquisition, building acquisition, and construction. To be eligible for the 504 loan a business cannot have a net worth that exceeds $15 million and an average net income after taxes no greater than $5 million over the past two years.

  • Benefits – Lower down payments, favorable terms and pricing
  • Standard Terms (Lender) – 10 years for real estate with up to 30-year amortization
  • Standard Terms (SBA) – 20 years for real estate
  • Loan Amounts – Up to $15 million
  • Structure – Up to 40% or $5 million maximum funded by the SBA
  • Pricing – Fixed for 20 years

SBA Express – Term Loan

Best match for borrowers who need smaller loan amounts for working capital, purchase land, building, equipment and inventory.

  • Benefits – Longer maturity terms, accelerated application process; SBA fees can be financed
  • Standard Terms – Working capital up to 7 years; equipment up to 10 years, real estate up to 25 years
  • Loan Amounts – Up to $350,000
  • Structure – SBA guarantees 50% of the loan
  • Pricing – Fixed and variable rate options

SBA Express – Line of Credit

Best match for borrowers who need smaller loan amounts and short term access to funds for working capital needs.

  • Benefits – Accelerated application process compared to 7 (a) program; SBA fees can be financed
  • Standard Terms – Revolving up to 3 years
  • Loan Amounts – Up to $350,000
  • Structure – SBA guarantees 50% with guaranty fees based on guaranteed amount
  • Pricing – Variable rate

Call Carol Lowry, SBA Division Manager, today to discuss getting started with SBA financing. She can be reached directly at 310-944-9245. We're here to help you succeed!

All loans and lines of credit are subject to credit approval. SBA loans and lines of credit are subject to SBA Eligibility.