SBA Loan Services
Tremlax Allied Bank offers SBA Loans with proceeds used to establish a new business or assist in the operation, acqusition, or expansion of existing clients. This might include:
- Purchase land or buildings, to cover new construction as well as expansion or conversion of existing facilities
- Acquire equipment, machinery, furniture, fixtures, supplies, or materials
- Refinance existing businesses indebtedness, which is not already structured with reasonable terms and conditions
- Short-term working capital needs
- Purchase existing businesses
- SBA Loan Programs are:
7(a) LOAN
Maximum Loan Amount—$5 million
Maximum SBA Guaranty—$3.75 million
85% SBA Guaranty on loans up to $150,000 and 75% SBA Guaranty on loans greater than $150,000
EXPRESS
Maximum Loan Amount—$350,000
50% SBA Guaranty
RURAL LENDER ADVANTAGE
Maximum Loan Amount—$350,000
SBA Guaranty same as 7(a) Loan
PATRIOT EXPRESS
For Veterans
Maximum Loan Amount—$500,000
SBA Guaranty same as 7(a) Loan
QUALIFICATIONS
Must be for-profit business and meet SBA size standards; show good character, credit, management, and ability to repay
MAXIMUM TERM
Real Estate—25 years
Machinery/Equipment—10 years
Working Capital—7 years
MAXIMUM INTEREST RATE
Less than 7 years—Prime plus 2.25%
7 years and over—Prime plus 2.75%
SBA Express maximum rates on loan amounts:
- $50,000 or less—Prime plus 6.50%
- $50,000 or more—Prime plus 4.50%
PURPOSE
Fixed assets, working capital, to finance start-up businesses or purchase an existing business
GENERAL INFORMATION
Those owning 20% or more of the business must personally guarantee the loan
Borrower must have a minimum of 10% equity injection
Maximum aggregate SBA Guaranty—$3.75 million
Size Limit—Maximum tangible net worth $15 million or less and 2-year average net income after federal income taxes of $5 million
For more information, please contact us at +1 762 251 7381 or email info@tremlaxallied.com today!!
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