SBA Loans

With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans.

 

Small Business Administration, SBA Lending with Bank of Belleville

As a Preferred Lender with the Small Business Administration, our knowledgeable staff can help you navigate the tools available, and guide you through the benefits and flexible terms SBA loans provide for your small business. Because we are locally owned and operated, our decisions are made right here.

We measure our success by the success of our community and truly understand the importance small businesses have on that success. Given the challenging time facing us all today, the SBA is offering new programs to help businesses persevere:

Our experts, Wade Weitlauf and Brandon Rakers are standing by to help guide you through the entire process, working with you each step of the way.

 

Can you use an SBA loan?

If you have a growing business, SBA financing can help you to:

  • Purchase or renovate real estate. Purchase or upgrade real estate to operate your business, construct a business facility or make improvements to an owner-occupied property.
  • Purchase fixed assets. Includes assets such as heavy machinery or specialized equipment.
  • Borrow working capital.
  • Manage day-to-day cash flow and purchases.

 

SBA loans provide many advantages:

  • SBA loans are typically easier to qualify for than conventional business loans
  • Longer repayment terms provide lower monthly payments
  • You can borrow up to 90% of the collateral’s value
  • Any applicable fees may be financed directly into the loan

 

SBA 7(a)

SBA 7(a) can provide funds for a variety of business purposes. Proceeds can be used to fund equipment purchases, business acquisitions or expansion, finance permanent working capital or purchase real estate.

 

SBA 504 Loan Program

Loan proceeds can be used to purchase real estate or equipment. These loans are generally designated for projects over $500,000.

 

Loan Commitment Amounts

SBA 7(a) Program: Up to $2,000,000
SBA 504 Loan Program: Generally used for projects greater than $500,000

 

Annual Percentage Rate

Fixed or variable rates for loans.

 

Interest Rate

SBA 7(a): Variable rates are indexed to the Wall Street Journal Prime rate plus a margin.
SBA 504 Loan Program: Fixed or variable rates are available depending upon the term of loan.

 

Fees

SBA fees, packaging fees, or origination fees may apply and will vary based upon the type and the term of the loan.

 

Repayment Terms

SBA 7(a): Working capital loans – up to 7 years. Equipment loans – up to 10 years. Real estate loans up to 25 years.
SBA 504 Loan Program: Terms are typically from 10 to 20 years.