Partnering with the Small Business Administration on loans can be beneficial in providing a loan structure that works for you and your business. We listen and recommend the best option for you when expanding your business, purchasing or remodeling a building, buying inventory or equipment, buying out a partner or any other need.
SBA 504 Loans
A 504 loan can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of:
- Existing buildings or land
- New facilities
- Long-term machinery and equipment
Or the improvement or modernization of:
- Land, streets, utilities, parking lots and landscaping
- Existing facilities
- Working capital or inventory
- Consolidating, repaying or refinancing debt
- Speculation or investment in rental real estate
SBA 7(a) Loans
This guaranteed small business loan program allows EntreBank to make loans, and the SBA provides a guaranty for a percentage of the loss the bank may incur on the loan. The maximum loan amount is $5 million, and may help businesses that do not qualify for a traditional small business loan.
7(a) loans are not only available to those starting a new business, they can be an excellent financing tool for those who want to expand an established business, buy an existing business, purchase furniture, fixtures, supplies or other financing needs.