Community Business Finance provides businesses with obtaining financing under the SBA's 7(a) loan program. 7(a) loans provide capital for a wide variety of business needs.

Highlights:

  • Financing options unavailable under conventional terms
  • Long-term financing (7 to 25 years depending on use of proceeds)
  • Loan amounts up to $5 million
  • Up to 75% SBA guaranty

Use of Funds:

  • Business start-up, acquisition or expansion
  • Debt Refinance (must meet SBA requirements)
  • Working Capital
  • Purchase, construction or renovation of owner-occupied commercial real estate
  • Purchase of machinery and equipment for business use

Eligibility Requirements:

  • The business must be a for-profit
  • Have a net worth under $15 million and net profits under $5 million (two-year average)
  • The owner/user must occupy 51% of an existing building or 60% of new construction
  • There must be a demonstrated need for the desired credit