SBA Loans & Financing for Your Business

Loans from $25,000

Quick financing at low rates

Get started

Start and grow your business

SBA loans for new and 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

SBA 504

Loans from $350,000 ($700,000 or greater overall project size)

Loans from $500,000 for ground up construction ($1 million or greater overall project size)

Purpose:

Purchase equipment
Purchase or refinance commercial real estate
Fund construction or improvements

Terms:

Up to 10 years on equipment
Up to 20 years on real estate with up to 25 year amortization
Construction draw period commensurate with project
Down payment as low as 10%

SBA 7(a)

Loans from $350,000-$5.0 million

Loans from $500,000 for ground up construction

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%

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.

Make an appointment