Small Business Administration (SBA) Loans

Financing Solutions for Small Businesses

As an eligible lender for Small Business Administration lending programs, we have the expertise to guide your application through the approval process. These government-backed lending programs provide an opportunity to improve, strengthen and grow our community.

Contact one of First National’s experienced business bankers to see if your business qualifies.

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SBA Loan Program Quick Comparison

SBA 7(a) Term Loan SBA Express Loan SBA 504 Term Loan
Eligibility For-profit businesses.
Net worth not in excess of $15 million.
Net profit after tax averaging less than $5 million for the previous two years.
Small business qualification by SBA guidelines.
For-profit businesses.
Net worth not in excess of
$15 million.
Net profit after tax averaging less than $5 million for the previous two years.
Small business qualifications
by SBA guidelines.
For-profit businesses.
Net worth not in excess of $15 million.
Net profit after tax averaging less than $2.5 million for the two previous years.
Not for speculation or investment in rental real estate.
Meets job creation and/or retention goals.
Loan Size Up to $5 million.
SBA guarantee cannot exceed $3.75 million.
Up to $350,000. Minimum project size $125,000.
SBA portion minimum $50,000; maximum $5.5 million.
Use of Proceeds Land, buildings, equipment, purchase business, inventory, working capital Working capital lines of
credit.
Land; building purchase, construction or renovation
Equipment (minimum useful life of 10 years)
Financing Provided by First National.
SBA provides 85% guarantee to First National on loan amount of $150,000 or less; 75% guarantee on loan amount of $150,000 or more.
Provided by First National.
SBA provides 50% guarantee to First National on loan amounts up to $350,000.
50% financed by First National.
40% SBA loan through Certified Development Company.
10% borrower equity injection.
Loan Terms Working capital – up to 7 years.
Equipment – up to 10 years or useful life.
Real estate – up to 25 years.
Revolving lines of credit up to 7 years. Initial term is 1 year with renewal options. First National loan – minimum 10 years on real estate, 7 years on machinery and equipment.
SBA loan – 10 or 20 years.
Interest Rates Variable, based on Wall Street Journal prime rate. Variable, based on Wall Street Journal prime rate. First National loan – negotiated between borrower and bank.
SBA loan – below market fixed; rate set when debenture is sold.
More Details Learn more about SBA 7(a) loans. Lean more about Express loans. Learn more about SBA 504 loans.

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