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Looking to purchase, build or renovate a facility?
Need new machinery and equipment?
Our low down payment, low equity, and fixed rate SBA loans are used for
fixed asset projects such as purchasing land and improvements, including
existing buildings, grading, street improvements, utilities, parking lots
and landscaping; construction of new facilities, or modernizing, renovating
or converting existing facilities; or purchasing long-term machinery and
equipment.
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Ideal
Project |
Real estate
or equipment projects over $500,000. |
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Project
Size |
Normally
our maximum participation is $1,500,000. Special category
business expansion projects (i.e. rural based, women-owned,
veteran-owned or minority-owned businesses; projects located
in an enterprise zone; and businesses that export), can
increase our maximum participation to $2,000,000. Our
maximum participation for manufacturing firms is $4,000,000. |
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Qualifications |
For profit
established business with a tangible net worth of $7 million
or less, and $2.5 million or less after tax profits. |
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Terms |
For 10 or
20 years. |
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Interest
Rates |
Low-interest, long-term, fixed-rate financing. |
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Repayment |
Level
monthly payments of principal and interest. |
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Collateral |
Real estate
or equipment required. |
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Servicing
Fees |
Up to 3% of
the debenture that can be financed with the loan. A
servicing fee is collected monthly. |
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Structure |
In
conjunction with their primary lender, is available with low
equity requirements for up to 90% of the project. Typically,
the bank provides a first mortgage loan for 50% of the
project, the SBA provides the next 40% and the borrower
provides the remaining 10% equity. |
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Type of
loan |
Low-cost,
fixed-rate SBA 504 term loans. |
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Can be used
for |
Purchase of
buildings
Machinery &
equipment
New
construction
Renovation
& leasehold improvements |
Other terms and Conditions will apply. *Prices, terms and conditions
subject to change without notice on all loan products.
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