Business Banking

Small Business Administration (SBA) Loans

As a Preferred Small Business Administration (SBA) lender, Broadway may be able to help you get an SBA Guaranteed Loan. This can let you maximize financing available to grow your business, and enjoy lower payments and longer terms, even if you don't qualify for other loans.

The SBAExpress Loan

Maximum Loan Amount up to $250,000* available as a line of credit or term loan.
Rate—fixed or variable, not exceeding 6.50% over prime rate (New York Prime rate).
Maximum Term of 7 years, with fully and partially amortizing payment options.

*Loans in excess of $100,000 must be secured by business or personal assets.

The Basic 7(a) Loan

The most basic and most used type loan of SBA’s business loan programs.

Maximum Loan Amount up to $2 million* available as a term loan.
Rate—varies depending on loan amount and maturity.
Maximum Term of 25 years for real estate and equipment. 7 years for working capital.

Visit www.SBA.gov for more information about the Basic 7(a) Loan.

SBA Patriot Express Loan

For Veterans and members of the military community wanting to establish or expand small businesses, the bank offers the SBA Patriot Express Loan. Click for more information

CDC/504 Loans

This loan program is a long-term financing tool for economic development within a community.

Maximum Loan Amount up to $4 million available as a term loan.
Rate on 504 loans is pegged to an increment above the current market rate for five-year and 10-year U.S. Treasury issues. Fees total approximately three (3) percent of the debenture and may be financed with the loan.
Maximum Term maturities available for 10 and 20 years.

Visit www.SBA.gov for more information about CDC/504 Loans.