SBA

SBA Loan Programs:

7(a)

Generally used for capital needs and is the most flexible vehicle in the SBA portfolio. This is the most commonly used SBA loan in the marketplace.

504 Loan Program

Must be used for real estate or fixed assets of the business, like large machines and equipment. The loan structure is generally more advantageous to business clients who are looking to minimize their out-of-pocket down payment costs and save capital.

SBA Express

Ideal loan for a small business owner who needs a small loan for working capital needs. This is a faster process than doing a full 7(a) loan.

USDA

Most commonly used in rural areas and for agricultural needs. Not the most well-known loan program and only a limited number of banks will participate in it. However because of the guarantee of the loan, it allows banks a little more freedom than a traditional loan.  USDA has the longest amortization of any conventional loan.