Small Business Loans
Successful small businesses produce thriving communities.
The SBA Division at Mission Bank is dedicated to offering flexible financing solutions for your growing business.
The Small Business Administration (SBA) has a variety of programs to assist entrepreneurs with transforming their vision into a successful business. One way the SBA does this is by partnering with local lenders to offer SBA-guaranteed loans to business owners, making it easier for small businesses to get loans.
Based on our experience and proven track record, Mission Bank has Preferred Lender status with the SBA.
What does this mean for you?
- You will be guided step-by-step through the application process by professionals experienced in SBA lending.
- Decision times on SBA loans are substantially reduced – up to 30 days faster than non-preferred lenders, which means we can quickly get you the capital your company needs to grow.
SBA 504 and 7(a) loans are available to start-up or existing businesses, and SBA loans have competitive rates and fees, lower down payments, and flexible overhead requirements when compared to standard business loans.
The SBA 7(a) Loan Program encompasses several types of loans and can be used for real estate purchases, renovation, or construction; short- and long-term working capital; business debt refinance; and/or to purchase furniture, fixtures, and supplies. The maximum 7(a) loan amount is $5 million and repayment terms and maturities are based on the type of loan.
SBA 504 loans are long-term, fixed rate loans used for fixed assets. The purposes can include purchase or construction of buildings or land, permanent machinery and equipment purchases, or improvements on existing facilities. Maximum loan amounts vary depending on the purpose of the loan and maturities are between 10 and 25 years.
Contact our SBA team to explore making your vision a reality.
These forms will help get your request started: