If you have a recently-established or quickly growing company in need of financing to further your vision, SBA Loans are an excellent option. These loans are backed by government-sponsored loan guarantees and are available to for-profit businesses in virtually every industry.
SBA loans provide you with greater flexibility due to lower down payments and longer financing terms than other conventional loan options. They can be utilized for a variety of purposes, including purchasing real estate, buying an existing business, funding property improvements, acquiring fixed assets or providing ongoing working capital needs.
Union Bank is an SBA Preferred Lender and has the ability to utilize Special Purpose Loan Programs, make in-house credit decisions, accelerate your approval process, and provide timely service.
SBA 7(a) Loans are the most common form of SBA Loan. Their proceeds can be used to help buy an existing business, start a new business, or expand an existing business. This article details 7(a) Loan programs and how they can help your business.
The SBA’s 504 loan program is for small businesses needing to acquire major fixed assets, to expand, to modernize, or to construct a new facility. This program provides long-term, fixed-rate financing to encourage community growth and business expansion. Check out my article on 504 Loans for more information.
Is an SBA loan right for you? Let's talk about your situation and needs, then choose the right financing solutions.
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