Broadway Bank is a SBA Preferred Lender, which means we can provide more lending options for your business!
The SBA loan program allows Broadway Bank to structure very favorable repayment terms for you and your business. And the Preferred Lender designation is given to only the most experienced lenders, and it grants Broadway Bank the authority to process, close and service most SBA guaranteed loans in order to expedite the process for you.
An SBA Guaranteed Loan may be the right solution
if your business is:
- Owner operated, for profit.
- Looking for a loan for business-related purposes.
- A growing company in a specialty market.
- In need of a longer term loan.
- Lacking sufficient collateral to otherwise
qualify for a loan.
You can use an SBA Guaranteed Loan to:
- Expand or modernize current facilities.
- Purchase machinery or equipment.
- Finance receivables.
- Construct a new commercial building.
- Purchase existing land and buildings.
- Purchase an existing business.
An SBA Loan allows you to borrow up to $5 million with terms up to 25 years, depending on the purpose of the loan. Various types of SBA Loans include:
- SBA 504 – A long term financing tool designed to provide small businesses with long-term, fixed-rate financing to construct or acquire facilities or to purchase long-lived equipment.
- SBA 7(a) - Offers financing for businesses with special requirements.
- SBA Express – Gives small business borrowers an accelerated turnaround time for SBA review.
- SBA Patriot Express – A program available to veterans and their spouses.
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For more information about SBA Loans visit www.sba.gov
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