Small Business Administration (SBA) Lending Solutions

The Peoples Bank offers SBA 504, SBA Express, SBA 7(a) and SBA Caplines for eligible small businesses in order to finance real estate expansion, machinery and equipment projects, and working capital or operating needs.

Backed by the SBA, these loans are structured for small businesses, with features that usually result in lower monthly payments – helping you preserve cash flow for other uses.

Benefits of SBA loans versus conventional financing options include:

  • Up to 25 year terms, with no balloon payments
  • Competitive interest rates
  • As little as 10% down payment on commercial real estate
  • No loan covenants
  • Loan closing costs may be financed
  • Less stringent collateral requirements
  • A local, experienced SBA lender to assist you with application completion all the way through to final closing

Several SBA loan options are available to meet different business needs:

SBA 7(a) Loans

  • Loan limit up to $5,000,000
  • Eligible activities for 7(a) financing include starting or acquiring business, expansion, or refinancing existing debt
  • Loan proceeds may be used for working capital, equipment, commercial real estate, or exporting

CAPLINES PROGRAM

  • Provides a revolving line of credit up to $5,000,000
  • Loan proceeds must be used for short-term working capital/operating needs

SBA EXPRESS LOANS

  • Loan limit up to $350,000
  • Similar to 7(a) loan, but simpler application process and faster approval

SBA 504 LOANS

  • Loan limits - $125,000 to $10,000,000+
  • Designed to help small businesses acquire fixed assets, such as commercial real estate and/or equipment
  • Provides affordable, long-term financing through certified development companies (CDCs) in cooperation with The Peoples Bank
  • Borrower pays as little as 10% down on the purchase of real estate and equipment

For more information about SBA loan products, call us at 865-474-6363 or email us at sbaloans@thepeoplesbanknow.com.

*All loans are subject to credit and approval.

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