With some of the best loan terms on the market, our Small Business Administration programs give you more opportunities to grow your business and get the credit you need.
BENEFITS OF THE SBA
When expanding your business, a Small Business Administration (SBA) loan can help maximize your cash flow, provide more flexible structures and greater access to capital.
These loans are specially beneficial for small and medium sized businesses that may not have access to other financing at reasonable terms. All loans must comply with SBA requirements and meet Bank of America credit guidelines and approvals.
TYPES OF LOANS
Both the SBA 504 and 7a offer more flexible structures, have lower down payments and longer maturities than conventional loans. One of our specialists will guide you through available credit options and help you identify an optimal solution.
|SBA 504||SBA 7(A)|
|Use it to:|
|Purchase equipment||Purchase or expand a business|
|Purchase real estate||Purchase equipment or inventory|
|Leasehold improvements||Provide working capital|
|Renovate a property||Refinance debt|
|Purchase real estate|
|Renovate a property|
|Up to $20 million, up to 25 years for real estate||$350,000-$5 million|
|Up to 2 years interim construction period||Up to 7 years for working capital|
|Up to 10 years for equipment||Up to 10 years for equipment or business acquisition|
|Up to 20 years for real estate||Up to 25 years for real estate|
BofAML works for businesses and is a leading provider of credit across the United States. With the strength of the Bank of America franchise you can grow - from buying a business to building a property.
- SBA specialists across the country can guide you through the credit process
- A seasoned SBA lender with more than 20 years of experience
- $320 million in SBA loans in 2019
- Top 504 lender nationwide and preferred 7a lender1
BofAML works with the SBA to offer a variety of loan programs benefiting many types of businesses.
Owner Occupied Commercial Real State
A manufacturing company secured an SBA 7a loan for $4 million for commercial real state.
A long-time client bought out a business partner and used the SBA 7a program for the $3.4MM loan.
A manufacturer and distributer of goods utilized the SBA 504 program for $3.8MM in equipment financing.
Owner Occupied Commercial Real Estate 504
Using the SBA 504 program, a retail furniture client secured $4.7MM to purchase a warehouse and distribution center.
An SBA specialist can answer any questions and start your application. Give us a call.
1 Source: Eagle Compliance website with data provided by SBA. These numbers represent SBA 'authorizations' and do not necessarily reflect booked loans.