If you own your business and are considering the purchase of a commercial property, land, or heavy equipment, a government guaranteed SBA 504 loan might be right for you.
What is an SBA Loan: The Small Business Administration (SBA) provides a number of financial assistance programs for small businesses designed to meet key financing needs. The SBA does not make direct loans to businesses.
Rather, the SBA sets the guidelines for loans, which are then made by partner lenders (Fremont Bank). When you apply for an SBA loan, you do so through a bank. While the SBA is guaranteeing a portion of the loan, the bank is providing the actual loan. The guarantee by the SBA helps banks to provide more flexible loan terms.
Benefits of an SBA Loan
Down payment as low as 10% for qualifying owner-occupied properties
Longer maturity than conventional loan
Easier qualification than a conventional loan
Do I qualify for an SBA Loan?
A common misconception is that SBA loans are only for new businesses. SBA loans are not exclusive to new businesses, and while new businesses often seek financing from the SBA, many established businesses take advantage of SBA backed loans as well.
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