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What Are SBA Loans?

The U.S. Small Business Administration is a federal agency committed to furthering the growth and development of small businesses. One of the ways it does this is by guaranteeing loans to small businesses made through lending partners nationwide. U.S. Bank is both an SBA Preferred Lender and America’s most experienced SBA lender.

The SBA does not make loans directly to small businesses. Rather, it sets the guidelines for loans, which are made by lending partners nationwide, including banks and economic development organizations. The SBA guarantees a percentage of the loan, minimizing risk to the lending partners and increasing the possibility that small businesses will receive the funds they need.

Does my business qualify for a Small Business Administration loan?

Small businesses must meet certain criteria to qualify for an SBA loan, including size requirements, financial standing and being in a for-profit industry. SBA loans cannot be made to a small business if the borrower has access to other financing that offers reasonable terms. In addition, a small business must meet the credit qualifications of the lending partner.

There's an SBA loan for almost any business need.

U.S. Bank offers five types of SBA loans for businesses in almost any for-profit industry. Loan amounts range from $25,000 to more than $2 million and are available for a variety of business purposes, including:

  • Commercial real estate purchases
  • Business acquisition or expansion
  • Construction
  • Equipment, inventory or working capital
  • Debt refinancing

Advantages include lower down payments and longer repayment terms.

Benefits of SBA loans include lower down payments and longer repayment terms than conventional bank loans, enabling small businesses to keep their cash flow for operational expenses and spend less on debt repayment.

  • More benefits
  • Up to 90% financing
  • Loans up to $2 million
  • Terms up to 25 years
  • Fixed and variable rate options
  • No balloon payments
  • Most for-profit small businesses are eligible
  • SBA loans originated at Tioga-Franklin are serviced by Tioga-Franklin, ensuring personalized service

Offering competitive rates to small businesses.

If you are looking for loans up to $300,000 with limited or no collateral and you need a fast decision,  you have been in business for 2 or more years and never defaulted on government guaranteed loan, SmartBiz may be right for you.

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All other inquiries, talk to one of our loan officers Contact Us to get started