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Credit Solutions > SBA Loans
First Bank Financial Centre is Wisconsin's #1 SBA lender, and the 2014 Wisconsin SBA lender of the year. Additionally, we are in the top 100 providers in the nation for SBA loan volume.
As an SBA Preferred Lender, we are able to provide faster turn-around time on SBA loans, while still providing our personalized service. Benefits of obtaining an SBA loan include the ability to secure long term financing (no balloon payments), flexible program requirements, longer amortization, and easy accessibility to financing thanks to the SBA guaranty.
The 7a loan program has flexible parameters to accommodate most requests. A 7a loan can not have a revolving provision, and the maximum loan size is $5,000,000. Term of the loan is dependent on the purpose of the request; typically, working capital loans range from 7-10 years, while real estate can be as much as 25 years. The SBA provides the lender with a 75-85% guaranty, depending on the request.
With an SBA Express loan program, the loan amount cannot exceed $350,000, and carries a maximum term of 7 years. The loan can be a term loan or a revolving line of credit. The SBA provides the lender with a 50% guaranty.
The 504 program is intended for real estate purchases, construction, and machinery and equipment purchases. This program enables the borrower to provide as little as a 10% equity injection. The financing package is structured with 2 loans - one loan is typically obtained through First Bank Financial Centre for 50% of the financing needs, secured by a 1st lien on the asset; a second loan is obtained through a certified development company for approximately 40% of the financing need, depending on the amount of borrower contribution required. The loan is a fixed rate loan up to a 20 year term and is secured by a 2nd lien on the asset.
Revolving lines of credit with annual renewal availability up to 10 years. Maximum loan size is $5,000,000. Loan must be fully collateralized or structured with a borrowing base. Applicant must provide first lien on accounts and inventory of the business. SBA provides lender a 75-85% guaranty.
First Bank Financial Centre will work with you to complete application paperwork and to design a financing package to fit your needs. For more information on how an SBA loan could help your business, or to obtain an SBA loan, please contact one of the knowledgeable FBFC lenders in your area:
Additional information on the SBA can be found at www.sba.gov.