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SBA Loans and Financing

A young man helping an older man fill out forms for an SBA loan on his laptop.

Small businesses provide important jobs and services to our communities. As an aspiring small business owner, it’s important that entrepreneurs like you have access to the financing you need to build your business and allow it to grow.

If you are trying to acquire or grow your small business, a loan from Landmark National Bank, backed by the U.S. Small Business Association (SBA), may be the solution you need to move forward.

Landmark National Bank and SBA Loans

Why choose Landmark National Bank for your SBA loan? Our team has more than 50 years of combined SBA lending experience. As an SBA Preferred Lender, we can approve your SBA loan internally without further review from the organization. In addition, we can provide a streamlined approval process and closing times to help get your business running even faster.

What is an SBA Loan?

An SBA loan is a loan that is backed and guaranteed by the U.S. Small Business Association, or SBA. When you apply for an SBA loan, you’re still working with an individual lender. Because they are guaranteed by the government, they often come with lower interest rates because the bank is assuming less risk than with a conventional commercial loan. SBA loans are considered a good choice for entrepreneurs who have a solid business plan, good credit, but limited access to collateral or capital for a down payment.

Why should I consider an SBA loan?

SBA loans are backed by the government, which means they can help remove some barriers to entry that may inhibit some small business owners (and aspiring entrepreneurs) from acquiring funding. Additionally, SBA loans offer flexibility when it comes to loan limits, interest rates, or payments.

It’s important to note that the SBA does not provide the funds. Landmark National Bank does that. Instead, the SBA simply guarantees the loan. Preferred lenders can even offer SBA loans at low interest rates because they are government guaranteed. Other reasons to consider an SBA loan include:

  • Financing when collateral may not be available
  • Longer repayment terms (up to 25 years), resulting in lower payments
  • Fixed and variable interest rates
  • No balloon payments
  • Flexible loan structures
  • Lower down payment requirements

How can I use an SBA loan for my small business?

SBA loans offer a lot of flexibility when it comes to financing your business’s needs. They can be used to pay for equipment or inventory, franchise development, partner buyouts, or even buying a business outright! Other uses can include:

  • Owner-occupied real estate
  • Working Capital
  • Debt refinance
  • Leasehold improvements
  • Start-up funding

There is no shortage of potential uses for SBA loans; if you have questions about whether an SBA loan is right for your needs, a commercial lender can help answer them.

Types of SBA Loans

There are two common SBA-backed loans that small businesses often pursue. They are the 7a loan and the 504 loan. Each loan type offers different benefits and requirements, so you’ll want to determine which one is the best fit for your situation.

7a Loans

7a loans are the most versatile option because they offer the most flexible programs and terms. Terms for these loans range from seven to 25 years. There are several programs of 7a loans, including SBA Express, export loan programs, and options for working capital (CAPLines).

504 Loans

504 loans are for businesses who want long-term, fixed-rate financing for purchasing fixed assets. Fixed assets include real estate, land, buildings, and equipment. 504 loans have minimum down payments of 10%.

Start Your SBA Process Today with Landmark National Bank

Ready to begin the process of applying for an SBA-backed loan? Have questions about which commercial lending option is right for you? Use the form below to fill out some basic details, and we’ll contact you for next steps.

SBA Loan Information

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