Small Business Administration (SBA) Loans
First American Bank is proud to be a Small Business Administration PLP Lender. As part of our commitment to the growth of our business community, we have a team of dedicated and experienced SBA lending professionals to help with your business financing needs. As a preferred lender, we are able to streamline and expedite the process.
All businesses considered for financing under the SBA loan programs must meet SBA size standards, be for-profit, not already have the internal resources (business or personal) to provide the financing, and meet the credit qualifications of the bank. Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions).
SBA Loans offer the following benefits:
- Easy eligibility requirements
- Lower down-payments so you can conserve your company’s operating capital
- Competitive interest rates
- Longer repayment terms to help you conserve cash flow, but not to exceed 10 years for non-real estate transactions
- Owner-occupied Real Estate loans up to 25 years
First American Bank participates in the following SBA Loan Programs: