We’re business builders. Many business owners find that a Small Business Administration (SBA) loan is a great option for growing their business. We are committed to providing your business with a one-stop lender for the SBA loan guaranty programs. SBA lending has helped many Central Virginia/Peninsula businesses grow, and we’re here to guide you through your own journey.
Whether it’s the 7(a) Regular Loan, Express Loan or the 504 Loan program, SBA financing offers attractive options and terms.
Features
- Lower equity requirements – Keeps liquidity in your business.
- Longer loan amortization – Provides lower monthly payments.
- Goodwill can be financed – Perfect for partner buyouts or business acquisitions.
- Newer companies may be eligible – Provides needed capital for growth.
- Loan approval is not collateral dependent – Requests with insufficient collateral can be considered.
SBA 7(a) Program
- Loan Amounts – Up to $5,000,000.
- Pricing – Both fixed and variable rates available.
- Amortization – Offers extended terms depending on loan purpose and collateral type.
- No balloon payments.
SBA 7(a) Express Loans
- Loan Amounts – Up to $500,000.
- Amortization – Offers extended terms depending on loan purpose and collateral type.
- Lower closing costs.
- No balloon payments.
SBA 504 Program
Designed for commercial, owner occupied real estate as well as equipment/machinery.
- Loan Amounts – Up to $5,000,000.
- Suitable for existing buildings and new construction.
- Pricing – Fixed for longer loan terms.
- Amortization – Up to 25 years.
- Equity requirements
- Most closing costs can be financed.
SBA Eligibility Requirements
In order to be eligible for a SBA 7(a) or 504 programs, the small business applicant must meet the following criteria:
- Be an operating business.
- Be an organized for-profit business.
- Be located in the United States.
- Demonstrate a need for the desired credit.
We are proud to be a Preferred Lender partner.
Interested in learning more about SBA lending? Contact Tom Kelley at 804.419.1236.
Normal credit approval criteria apply.
