SBA Loans

The United States Small Business Administration (SBA) offers loans under a variety of programs to fit various short and long term needs. These loans can often offer lower down payments and longer terms than other financing options. Let CenterBank work with you to see if you qualify for one of these SBA programs.

SBA 7(a) Loans
The 7(a) is the SBA’s largest and most popular program. SBA 7(a) loans can be used for nearly any business purpose, such as buying machinery and equipment, adding to your working capital, expanding your business, purchasing an existing business, starting a new business or franchise, adding inventory, remodeling, renovating, or purchasing commercial real estate, refinancing debt, and many other uses.

SBA 7(a) loans provide many benefits including longer terms, down payments as low as 10%, availability for new businesses, and terms that would not qualify for conventional financing.

SBA Express Loans
CenterBank is an approved lender under the SBA Express program. This program is a streamlined program with reduced documentation requirements and a quick approval process. Eligibility is basically the same as for the 7(a) program, and the bank can uses its own documentation to approve and service loan requests up to $250,000.

Benefits of the SBA Express program include less paperwork for you to fill out, faster loan approvals and quicker access to needed funds.

SBA 504 Loans
The SBA 504 loan program provides term loans to businesses to finance major fixed assets such as new or existing buildings, building renovations, or the purchase of long-term machinery and equipment.

These loans provide many benefits including longer terms, low fixed interest rates, and down payments as low as 10%. A CenterBank SBA 504 loan lets you keep more of your cash for working capital as you expand your business.

CenterBank is proud to be a Certified SBA Lender, a designation given to only a small percentage of banks in the country recognized as being among the SBA’s best lenders. This Certified Lender status allows us to give you faster service on SBA loan requests.