We can help you take advantage of the benefits of a Small Business Administration (SBA) loan. As an experienced SBA lender, Sterling can guide you through the process for a government-guaranteed loan with competitive financing for younger or rapidly growing companies.
| Features |
SBA 7a Loan |
SBA 504 Loan |
SBA Express Loan |
|
Use of Proceeds
|
Acquisition, Construction/Renovation, Refinance,
Working Capital
Equipment
|
Acquisition, Construction/Renovation
|
Revolving Business Line
for any Business need
|
|
Maximum Loan Amount
|
$2,000,000 |
$10,000,000
|
$350,000
|
|
Interest Rate
|
Fixed or Variable
tied to Prime
|
Fixed or Variable
on Bank 1st
SBA 2nd – Fixed
|
Variable tied to Prime
|
|
Maximum Loan to Value on Core Collateral
|
100% |
90%
|
N/A
|
|
Loan Terms
|
10-25 Years Fully Amortized |
Same as Conventional
20 Years Fully Amortized on SBA 2nd
|
Revolving Line of Credit
|
|
Prepayment Penalties
|
For the First Three Years on Terms Over 15 Years |
Varies on Bank 1st
For the First Ten Years on SBA 2nd
|
N/A
|
|
Points
|
0.85% to 2.63%
Depending on Loan Amount |
Varies (call for quote)
on Bank 1st
2.45% on SBA 2nd
|
Varies (call for quote)
|
|
Fees
|
$950 Loan Documentation Fee |
$1,000 Loan Documentation Fee
|
$950 Loan
Documentation Fee
|