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Small Business Administration (SBA) Loans & Financing

Loans from $25,000

Quick financing at low rates

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.

Connect with us

888.600.4000

Mon-Fri 8 a.m. – 10 p.m. ET

Mon-Fri 8 a.m. – 10 p.m. ET