|5 Patti Page Way, Centerville, MA 02632||directions|
|Mon - Fri 8:30 AM - 5:00 PM||about|
|508 790 2921||contact|
Obtaining funding for new equipment can be the make it or break it factor for your small business. Through the SBA, we offer low down payment, low equity, and fixed rate loans specifically used for purchasing long-term machinery and equipment.
|IDEAL PROJECT||Real estate or equipment projects over $500,000|
Maximum participation: $1,500,000.
Special Category Business Expansion Projects (rural based, women-owned, veteran- or minority-owned businesses; projects located in an enterprise zone; businesses that export): $2,000,000.
Manufacturing Firms Maximum Participation: $4,000,000.
|QUALIFICATIONS||For profit established business with a tangible net worth of $7 million or less, and $2.5 million or less after tax profits.|
|TERMS||10 or 20 years|
|INTEREST RATES||Low-interest, long-term, fixed-rate financing|
|REPAYMENT||Level monthly payments of principal and interest|
|COLLATERAL||Real estate or equipment required|
|SERVICING FEES||Up to 3% of the debenture that can be financed with the loan. A servicing fee is collected monthly.|
|STRUCTURE||Available with low equity requirements for up to 90% of the project In conjunction with primary lender. Bank provides first mortgage loan for 50% of project; SBA provides next 40%; borrower provides remaining 10% equity.|
|TYPE OF LOAN||Low-cost, fixed-rate SBA 504 term loans|
Other terms and Conditions will apply. Prices, terms and conditions subject to change without notice on all loan products.
Last updated: May 16, 2012