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Small Business Administration (SBA) Loans & Financing

Paycheck Protection Program

Timing is critical — The Small Business Administration (SBA) has stated that March 31, 2021, is the last date on which the SBA will approve a PPP loan application, or sooner if funding runs out. In order to help you and allow the necessary time for processing it is important we receive your application and all required documentation as soon as possible. Please note:

  • We will continue to accept new PPP applications from eligible clients until 5:00 p.m. ET on March 9.
  • Applicants must provide all of the supporting documentation that the SBA requires for their application to proceed by 5:00 p.m. ET on March 22. If an applicant has already received from us an earlier deadline to submit required documentation, all documentation must be submitted by that earlier date.
  • We will end all application processing at 5:00 p.m. ET on March 30. Clients who applied, but have not received a SBA loan number by the time of the SBA's March 31 cutoff, will be notified their application will not proceed and has been closed.

Visit our Small Business Assistance site for information on eligibility, how to apply, and loan forgiveness.

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:

Get a 1.00% interest rate for the first 18 months on qualifying Small Business conventional and SBA commercial real estate loans. Loans from $100,000. Apply by March 31, 2021 and close by July 31, 2021.

  • Get a 1.00% interest rate for the first 18 months on qualifying Small Business conventional and SBA commercial real estate loans. Loans from $100,000. Apply by March 31, 2021 and close by July 31, 2021.
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.