sba lending
for small businesses

Turn your big idea into reality

The U.S. Small Business Administration (SBA) loans offer lower down payment requirements, longer repayment terms, lower cash flow requirements to cover payments, and the ability to conserve cash for operating expenses. The right resources can change everything and we're here to help!

Security National Bank is proud to obtain SBA Preferred Lender Status - this allows us to serve our customers more efficiently - meaning we can underwrite your loan application, saving you time. We can also provide credit to businesses that might not otherwise find it and enable the borrower to stretch out repayment over a longer period of time.

Security National Bank is approved to offer SBA loan products under the SBA's Preferred Lender program.

SBA LOANS

SBA loans are small business loans that are partially guaranteed by the government. The below loans provide businesses with access to capital that might not otherwise be available, with more flexible underwriting than conventional business loans. All loans are subject to credit approval. Click the drop-down arrow to learn more about each type of SBA loan. To learn more about SBA, visit the source www.sba.gov.

SBA 7(a) Loans

The SBA uses the 7(a) loan program as its primary method of funding small businesses. An SBA 7(A) Loan is the most common SBA loan product, offering flexibility on terms and used for a variety of business needs. The interest rates for the SBA 7(a) Loans can be variable or a fixed rate. The Loan terms can be 10 to 25 years, depending on the loan purpose.

LOAN PURPOSES INCLUDE:

Expanding or acquiring a business
Purchasing or constructing real estate
Refinancing existing business debt
Buying equipment
Providing working capital
Financing building improvement
Purchasing inventory
Refinancing owner-occupied real estate
Start-up Financing

ADVANTAGES:

Up to 100% bank financing
Fully amortized/no balloons
No pre-payment penalties for loan terms under 15 years

Am I eligible for a 7(a) loan?
To qualify for an SBA 7(a) loan, a business must operate as a for-profit, do business in the United States or its territories, and be considered a small business, as defined by the SBA. Before seeking financial assistance, they must have reasonable invested equity and use alternative financial resources (including personal assets). They must demonstrate a need for a loan, use the funds for a sound business purpose, and not be delinquent on any existing debt obligations to the U.S. government. Contact a banker below for additional information on eligibility criteria and loan application requirements. All loans are subject to Security National Bank credit approval and SBA eligibility.

SBA 504 Loans

The SBA 504 Loan is used for Real Estate and Equipment. While the eligibility requirements for a 504 loan are nearly the same as the 7(a) loan, the approved uses of the loan are different. The interest rates for an SBA 504 Loan can be a variable or a fixed rate. The terms are up to 10 years for machinery or equipment, and up to 25 years for real estate.

LOAN PURPOSES INCLUDE:

Purchasing land or an existing building
Expanding or improving an existing building
Purchasing long-lived machinery or equipment
Refinancing owner-occupied real estate
Start-up Financing

ADVANTAGES:

Low down payment conserves your cash
Fixed or floating interest rates available
Loan amounts up to $15,000,000

Am I eligible for a 504 loan?
To qualify for an SBA 504 loan, a business must operate as a for-profit, do business in the United States or its territories, have a tangible net worth of less than $15 million, and have an average net income of less than $5 million after federal income taxes for the two years preceding your application.

Other general eligibility standards include falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan. Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities. Contact a banker below for additional information on eligibility criteria and loan application requirements. All loans are subject to Security National Bank credit approval and SBA eligibility.