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SBA Loan Requirements & Eligibility

Discover how our SBA loans can help your business grow.

Our team of Small Business Administration (SBA) experts can help you navigate the eligibility of your company and the use of funds. We have the knowledge and experience to guide your business through the SBA process from application to closing.

SBA ProgramUsesBank FeesSBA Fees
SBA 504 (10-Year Debenture)Capital EquipmentVaries: typically 0.5% – 1 % of the bank portion0.5% of the bank portion, plus approximately 2.65% of SBA’s portion1
SBA 504 (20- or 25-Year Debenture)Real Estate
Varies: typically 0.5% – 1% of the bank portion, more if construction loan0.5% of the bank portion, plus approximately 2.65% of SBA’s portion1
7a Small & 7a Large LoansGeneral Purpose Term LoanPackaging Fee: Capped at $2,500

Construction loans may require extraordinary servicing fee of 1%
Guaranty Fees
Loans up to $1,000,000: waived through 9/30/2024
Loans $1,000,001 – $5,000,000: Loans with terms up to 12 months (no renewals) – 0.25%; Loans with terms longer than 12 months – varies on the size of loan3
SBA ExpressGeneral Purpose Lines of Credit up to $500,000Packaging Fee: Capped at $2,500

Construction loans may require extraordinary servicing fee of 1%
Guaranty Fees
Loans up to $500,000: waived through 9/30/2024
Loans $1,000,001 – $5,000,000: Loans with terms up to 12 months (no renewals) – 0.25%; Loans with terms longer than 12 months – varies on the size of loan3
Working Capital CAPlineGeneral Purpose Lines of Credit from $500,001 to $5,000,00020.5% – 1% annuallyGuaranty Fees
Loans up to $1,000,000: waived through 9/30/2024
Loans $1,000,001 – $5,000,000: Loans with terms up to 12 months (no renewals) – 0.25%; Loans with terms longer than 12 months – varies on the size of loan3
Export ExpressExport Loans and Lines up to $500,000Packaging Fee: Capped at $2,500Guaranty Fees
Loans up to $500,000: waived through 9/30/2024
Loans $1,000,001 – $5,000,000: Loans with terms up to 12 months (no renewals) – 0.25%; Loans with terms longer than 12 months – varies on the size of loan3
International Trade LoanTerm Loans to support Exporters up to $5,000,000Packaging Fee: Capped at $2,500Guaranty Fees
Loans up to $1,000,000: waived through 9/30/2024
Loans $1,000,001 – $5,000,000: Loans with terms up to 12 months (no renewals) – 0.25%; Loans with terms longer than 12 months – varies on the size of loan3

Eligible Uses of Funds

Eligibility requirements may vary based on loan type. To qualify for an SBA loan, your business generally must:

  • Be located in the U.S. or its territories
  • Be operated as a for profit business
  • Have owners/managers with relevant experience
  • Have a positive net worth (unless properly mitigated)
  • Meet SBA’s definition of a small business

The business must not:

  • Be passive
  • Be a lender, life insurance company, money service business or investment brokerage

The owners must:

  • Be U.S. citizen or legal permanent resident
  • Be of good character
  • Not affiliated with employee of lender

Ineligible use of SBA funds include:

  • Speculative Investment
  • Payments or distributions to an associate of the applicant
  • Floorplan financing
  • Investments in real or personal property acquired and held primarily for sale or lease
  • Payment of delinquent taxes

SBA Loan Overview

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SBA
FAQs

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Small Business Administration Team

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