SBA & USDA Loan Programs

Government Guaranteed SBA & USDA Loans

Longer terms, fixed rates, and no balloon payments.

Who is Eligible for an SBA Loan?

Most for-profit small businesses are eligible for an SBA guaranteed loan. This includes manufacturers, wholesale, retail and service businesses as well as independent or franchise businesses.

Loan Size details

  • SBA 7(a) Loan Size $150,000 to $5 million
  • SBA Express Loan Size From $30K To $350,000
  • SBA Micro-Loans Up To $50,000
  • SBA 504 Loans Up To $25 Million

USDA Loans 

The USDA Business & Industry (B&I) Loan Program is an asset-based loan program designed to help credit-worthy rural businesses obtain needed credit to grow and create jobs in their local communities. The program bolsters the availability of private credit by guaranteeing loans for businesses in rural areas across the US.

  • Loan Amount: $1 Million to $25 Million
  • Does Not Have To Be Owner Occupied
  • Interest Rate: WSJ Prime + 0.5 – 2.75
  • Term/Amortization: Up to 30 years
  • Pre-Payment: 5 Year Declining to 10 Year Declining
  • Origination: 2 Points
  • USDA Fee: 1.8% – 2.4% of Loan Amount
  • USDA Annual Renewal Fee: 0.3% – .4% of Outstanding Loan Amount
  • Property Eligibility: 97% of the US Land Area Is Eligible
  • LTV: 76% LTV for RE / 60-70% LTV for M&E / FF&E
  • Collateral: 1:1 Discounted Coverage
  • Projected Debt Service Coverage: 1.25
  • Guarantor: Acceptable Credit and PFS

What you can use the money for:

  • Commercial real estate (purchases, construction, or refinance)
  • Leasehold improvements
  • Business expansions
  • Machinery, equipment, furniture or fixtures
  • Business acquisition
  • Working capital (offered in conjunction with some of the above)
  • Start-ups (ALL Franchises, Motels, Restaurants Gas Stations and C-Stores)

Call us today to discuss your loan options!