The SBA 504 Loan is designed for long-term, fixed-rate borrowing needs such as capital equipment and machinery, land and building purchases, new construction, long-term equipment purchases and more.
- Enhanced cash flow
- Predictable monthly payments
- Longer-term financing at competitive interest rates
- 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