SBA Lending
When a conventional loan may not meet your business' designated needs, an SBA loan can offer the financial support a business needs when beginning or expanding.
Whether your business needs a new place for operations or new equipment, Elevate Bank is there to help every step of the way. Talk to one of our SBA experts today to see what type of loan will satisfy you and your business's needs.
SBA 7(a) Loan
Unlock the potential of your business with enhanced cash flow that fuels growth and prosperity.
- Access loans of up to $5 million, spanning 25 years for real estate and 15 years for non-real estate debt.
- Enjoy longer amortization periods for reduced loan payments, eliminating future balloon payments.
- Explore non-collateral dependent loans offering both variable and fixed rate options.
- Long- and short-term working capital, improved business cash flows
- Revolving funds based on the value of existing inventory and receivables
- The purchase of equipment, machinery, furniture, fixtures, supplies, or materials
- The purchase of real estate, including land and buildings
- The construction of a new building or renovation of an existing building
- Establishing a new business or assisting in the acquisition, operation, or expansion of an existing business
- Refinancing existing business debt, under certain conditions
SBA 504 Loan
An SBA 504 loan provides long-term, fixed-rate, financing that focuses on major fixed assets that will promote both business and job growth. These include the purchase or construction of:
- Existing buildings or land
- New facilities
- Long-term machinery and equipment
Or the improvement or modernization of:
- Land, streets, utilities, parking lots, and landscaping
- Existing facilities
SBA 504 Loans are issued through Certified Development Companies (CDCs) which are certified by the SBA, where a portion of funds are provided by other approved lenders.
- 10-, 20-, and 25-year maturity term options
- The interest rate will be pinned above current market rates associated with 10-year U.S. Treasury
USDA Loans
Empower your business with USDA loans from a community-focused bank.
Our dedicated team specializes in USDA loan products, enabling us to tailor the perfect loan solution for small and midsize businesses. Benefit from:
- Capital options with unique collateralization
- Longer amortizations for increased flexibility
- Lower equity contributions
- Flexible terms to suit your specific needs
- Financing opportunities for businesses located in rural areas
USDA financing is designed to fuel the success of rural and suburban businesses.
If your business is located in an area with 50,000 or fewer residents, you may qualify for a USDA Business & Industry loan. These programs are designed to stimulate economic growth and employment opportunities in rural America. Experience the following advantages:
- Higher loan-to-value terms without balloon payments
- Longer repayment terms compared to conventional loans
- Financing ranging from $1 million to $10 million
- Terms of up to 30 years for real estate and 15 years for equipment
- Versatile loans applicable for debt refinancing, business expansions, acquisitions, startup costs, construction, and working capital needs
Numerous industries and business types are eligible if they operate in rural areas, including:
- Manufacturing
- Retail
- Entertainment
- Hospitality
- Construction
- Commercial Real Estate
- Startups
- Nonprofits
