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SBA Loans




SBA Loans


As a Small Business Administration (SBA) Preferred Lender, KleinBank understands the financing needs of small and growing businesses. Our Business Bankers can help with a variety of your business financing needs.

KleinBank helps you and your business with:

  • One-on-one consultation to find the best program
  • Quick turnaround with local decision making
  • Low down payment programs with as little as 10% down
  • No Balloon payments
  • Flexible repayment terms
  • Variety of interest rate options

Plus, the SBA is waiving the SBA guarantee fee on loans under $150,000! Ask us for details.

Get started today by talking to Kari Schurmann, KleinBank’s SBA Specialist, at 952-467-5242 or email k.schurmann@kleinbank.com. You can also start the application process here.

Did you know?

  • Most Small Businesses are eligible for SBA lending, including restaurants, hotels, and more.
  • Solutions available for startups or business with changes in ownership.
  • Revolving lines of credit are available for businesses up to $5M.
  • No restrictions based on your personal assets.


SBA 7 (a) Program

Who qualifies? 

  • Must be a for-profit business and meet SBA size standard
    • Show good character, credit management and ability to repay
    • Must be an eligible type of business
  • Benefits
    • No upfront or ongoing annual fee for loans under $150,000 from October 1, 2015 to September 30, 2016! Ask us for details.
    • Programs also available for loans greater than $150,000
    • Long-term financing
    •  Improved cash flow
    • Fixed maturity
    • No balloons
    • No prepayment penalty for loans under 15 years
  • Use of Loan
    • Expansion/renovation
    • New Construction
    • Purchase land or buildings
    • Purchase equipment, fixtures, leasehold improvements
    • Working capital
    • Refinance debt for compelling reasons
    • Seasonal line of credit
    • Inventory or starting a business
  • Maximum loan amount
    • $5million


SBA Express
  • Who qualifies?
    • Must be a for-profit business and meet SBA size standards
    • Show good character, credit management and ability to repay
    • Must be an eligible type of business
  • Benefits
    • Fast turnaround
    • Streamlined process
    • Easy to use line of credit
  • Use of loan
    • May be used for revolving line of credit (up to 7 years maturity)
    • Term loan with same use as 7(a) Loans
  • Maximum Loan Amount
    • $350,000


504 Loans
  • Who qualifies?
    • For-profit businesses that do not exceed $15 million in tangible net worth and do not have an average two full fiscal years net income over $5 million
    • Owner-occupied 51% for existing or 60% for new construction
  • Benefits
    • Low down payment - equity (10.15% or 20.00%) (the equity contribution may be borrowed as long as it is not from an SBA loan)
    • Fees can be financed
    • SBA/CDC portion: Long-term fixed rate, full amortization and no balloons
  • Use of Loan
    • Long term, fixed asset loan
    • Lender (non-guaranteed) financing secured by first lien on project assets
    • CDC loan provided from SBA 100% guaranteed debenture sold to investors at fixed rate secured by second lien 
  • Maximum Loan Amount
    • 504 CDC maximum account ranges from $5 million to $5.5 million, depending on type of business

 



SBA Veterans Advantage
  • Who qualifies?
    • Similar to a 7(a) Loan, plus, small business must be owned and controlled (51%+) by one or more of the following groups:
    • Veteran
    • Active-duty military in TAP
    • Reservist or National Guard member
    • Spouse of any of the groups above
    • Widowed spouse of a service member or veteran who died during service
    • Benefits
    • Fast turnaround
    • Streamlined process
    • Easy to use line of credit
    • No guarantee fee
  • Use of loan 
    • May be used for revolving line of credit (up to 7 years maturity)
    • Term loan with same use as 7(a) Loans
  • Maximum loan amount
    • $350,000

CONTACT US
Phone

888-KLEIN-4U
888-553-4648

Email Send Us A Message

 



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