The SBA 7(a) Loan is a smart choice for a variety of business needs, including commercial real estate, construction or renovation, business acquisition and start-up franchise refinancing.
- Lower down payments
- Longer repayment terms
- Used for nearly any business need
- Small businesses must qualify for an SBA loan. The qualification criteria include size requirements, financial standing and being in a for-profit industry.
- $5 monthly fee if average balance is below $7,500
- $4.99 monthly fee for online banking
- $9.99 monthly fee for online banking with bill pay
- Small fee of $.10 per item for each debit over 100
- Balance requirement fee and per item fee for debits paid are waived for non-profit organizations