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.
Click here for SBA Loan Application Forms.
| Features |
SBA 7a Loan |
SBA 504 Loan |
Conventional Loan |
|
Use of Proceeds
|
Acquisition, Construction/Renovation, Refinance, Working
Capital Equipment
|
Acquisition, Construction/Renovation
|
Acquisition, Construction/Renovation
Refinance
|
|
Maximum Loan Amount
|
$2,000,000 |
$7,000,000
|
$5,000,000
|
|
Interest Rate
|
Fixed or Variable
tied to Prime
|
Fixed or Variable
on Bank 1st
SBA 2nd – Fixed
|
Fixed or Variable
Rates Available
|
|
Maximum Loan to Value on Core Collateral
|
100% |
90%
|
75-80%
|
|
Loan Terms
|
10-25 Years Fully Amortized |
Same as Conventional
20 Years Fully
Amortized on SBA 2nd
|
30 Years Amortization
with 10 Year term
|
|
Prepayment Penalties
|
For the First Three Years on Terms Over 15 Years |
Varies on Bank 1st
For the First Ten Years
on SBA 2nd
|
Varies (call for quote)
|
|
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
|
$1,250 Loan
Documentation Fee |
$1,250 Loan
Documentation Fee
|
$1,250 Loan
Documentation Fee
|