Small Business Lending - SBA Services
Focusing on Small Business Lending is not a “movement” for us; it is a passion for us. It is a passion that has been the heart of our business from the beginning. Small business lending and building strong relationships with customers is what has kept our bank on Main Street since 1877. We believe in the community and believe in small businesses.
It's more than just a loan. It's a relationship. It's why we are the Bank of Washington.
Our SBA lending programs offer many solutions that can be proven cost savers for many customers. Contact us today to learn how an SBA Loan could fit into your business strategy.
SBA Loan Comparisons
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|Loan Program||Loan Size||Percent of Guaranty||Interest Rate||Maturity||Use of Proceeds|
|7(a) Loans||$50,000 - $5 Million||
85% for loans $150,000 or less
75% for loans Greater than $150,000
|Negotiated between borrower and lender||
Up to 25 years for real estate
Up to 10 years for business acquisition, equipment
5-7 years for working capital
Weighted average for mixed use requests
|CDC/504 Loans||$25,000 - $5.5 Million||
Projected costs financed as follows:
CDC - up to 40%,
Lender - 50% (non-guaranteed),
Equity - 10% plus additional 5% if new business and/or 5% if special use property
25 years for real estate
10 years for equipment
|SBAExpress||Maximum of $250,000||50%||Maximum of Prime +6%||
Up to 7 years for Revolving Lines of Credit including term out period.
Otherwise, same as 7(a) loans
|May be used for revolving lines of credit (up to 7 year maturity) or for a term loan (same as 7(a)loan)|
|International Trade||$5 Million||90% guaranty (up to $4.5 million maximum guaranty) (Up to $4 million maximum guaranty for working capital)||Negotiated between borrower and lender||Up to 25 years||Term loan for permanent working capital, equipment, facilities, land, and buildings and debt refinance related to international trade|