SBA Working Capital Pilot Program

As a preferred lender under SBA’s Working Capital Pilot Program (WCP), First American Bank is able to offer your company a flexible way to manage your working capital needs. Whether it’s transactional-based or asset-based, we provide financing solutions based upon single or multiple transactions, or revolving lines of credit supported by foreign or domestic accounts receivable, and inventory. Let First American Bank leverage our knowledge and expertise for you and your business.

Program requirements:

• Must have a history of at least 12 full months of operations;
• Must produce timely and accurate financial statements, accounts receivable and accounts payable agings, and inventory reports;
• WCP loans must be secured by no less than a first security interest in all collateral associated with the transactions financed by the WCP loan.

Eligible use of proceeds include:

• Fund individual projects or transactions, enabling access to working capital earlier in the sales cycle;
• Utilize a cost-effective solution to access working capital against your assets;
• Support advance payment and performance standby letters of credit;
• Pay suppliers in advance in order to take advantage of discounts;
• Finance post-shipment accounts receivable;
• Debt refinancing.

WCP Upfront Fees effective October 1, 2024 through September 30, 2025:

• For WCP loans of $1,000,000 or less (regardless of maturity): the Upfront Fee is 0.00%;
• For WCP loans greater than $1,000,000 with a maturity of 12 months or less: the Upfront Fee is 0.25% of the guaranteed portion;
• For WCP loans greater than $1,000,000 with a maturity of 13 months up to 24 months: the Upfront Fee is 0.525% of the guaranteed portion;
• For WCP loans greater than $1,000,000 with a maturity of 25 months up to 36 months: the Upfront Fee is 0.80% of the guaranteed portion;
• For WCP loans greater than $1,000,000 with a maturity of 37 months up to 48 months: the Upfront Fee is 1.075% of the guaranteed portion;
• For WCP loans greater than $1,000,000 with a maturity of 49 months up to 60 months: the Upfront Fee is 1.35% of the guaranteed portion.

Because we understand one SBA product doesn’t work for every business, First American Bank offers additional working capital loan options including:

• SBAExpress loans offer a flexible way to meet your business’ short-term needs. 
• SBA CAPLine Program is designed to help businesses manage their cash cycle and support growth by meeting their short-term and cyclical working capital needs.

First American Bank is a full-service bank with locations in Illinois, Wisconsin and Florida.