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Small Business Administration (SBA) Loans & Financing

Paycheck Protection Program

The Small Business Administration (SBA) has announced it is no longer accepting Paycheck Protection Program (PPP) loan applications from most lenders. This is earlier than the SBA's previous deadline of May 31.


In line with this announcement, please note:

  • Bank of America is no longer accepting or processing new PPP loan applications from clients.
  • Clients with applications that have been submitted to Bank of America or the SBA, and are currently pending, will be notified of their application status through email. Please note information on the status of PPP loans is not available through our financial centers or contact centers.

For the latest information on PPP please visit the SBA wesbite.

Loans from $25,000

Quick financing at low rates

SBA loans for established businesses

Benefit from easier qualification, longer terms and lower down payments on fixed assets than most standard loans.

Qualifications

You own a for-profit business that does not generally qualify for conventional credit.

  • You own and operate a for-profit business
  • Your business is legally organized as a sole proprietorship, corporation, partnership or LLC
  • Your business does not generally qualify for conventional credit
Limited-time offer ends June 30, 2021:

Benefit from no upfront fees on secured loans plus no appraisal fees on your commercial real estate secured loan

  • Benefit from no upfront fees on secured loans plus no appraisal fees on your commercial real estate secured loan
  • Qualifying loans starting at $100,000. Exclusions apply
Special benefit for veterans:

Take advantage of a 25% discount on loan administration or origination fees.
Offer valid for veterans of the U.S. Armed Forces on new credit facility applications submitted in Small Business.

  • Take advantage of a 25% discount on loan administration or origination fees.
  • Offer valid for veterans of the U.S. Armed Forces on new credit facility applications submitted in Small Business.

Connect with a specialist to inquire about available products and services.

Loans from $25,000-$350,000

    Purpose:
  • Fund working capital or inventory
  • Purchase equipment
    Terms:
  • Up to 7 years for working capital or inventory (may revolve up to 12 months)
  • Up to 10 years on equipment
  • Down payment as low as 10%

Loans from $350,000

    Purpose:
  • Purchase equipment
  • Purchase or refinance commercial real estate
  • Fund construction or improvements
    Terms:
  • Up to 10 years on equipment
  • Up to 25 years on real estate with up to 25 year amortization
  • Construction draw period commensurate with project
  • Down payment as low as 10%

Loans from $200,000-$5 million

    Purpose:
  • Purchase equipment
  • Purchase commercial real estate
  • Fund construction or improvements
  • Purchase or expand a business
  • Fund working capital or inventory
    Terms:
  • Up to 10 years on equipment
  • Up to 25 years fully amortized for real estate
  • Construction draw period commensurate with project
  • Up to 10 years for business acquisitions
  • Up to 7 years for working capital or inventory
  • Down payment as low as 10%

Learn more about SBA loans from Bank of America

About qualifying for an SBA loan

Bank of America meets all SBA Preferred Lender Program eligibility criteria, including proficiency in processing and servicing SBA-guaranteed loans.  Talk to a small business specialist by phone or in person to get a recommendation and start your application.