SBA LendingSmall Business Loans
Strengthen Your Small Business With SBA Loans
Most businesses can secure the financing they need to grow through the small business loan program at Hillcrest Financial. As a Small Business Administration Preferred Financial Services company, we can promise our clients convenient, expedited loan processing.
You can use our financing to buy, build, upgrade, and refinance various properties, including restaurants, gas stations, auto shops, auto dealers, hotels, convalescent homes and veterinary clinics. We offer three options:
- Business acquisition loans with values up to $1.25 million annually. We offer terms and financing up to 15 years and 80 percent, total amortization and penalty-free early pay-offs. We can pre-qualify you in 48 hours.
- Equipment financing loans. These support the purchase of printing, binding, manufacturing, heavy machine, trucking, medical, laundry and diagnostic equipment.
- Loans up to $5 million. We offer financing and terms up to 90 percent and 25 years, low rates and full amortization.
Our 7(a) and 504 loans are offered through the SBA guaranteed loan program.
7(a) loans are suitable for most for-profit businesses. Besides the properties above, these loans apply to offices, industrial and warehouse buildings, child care centers and retailers. These loans are available to retailers with sales below $6,000,000, manufacturers with fewer than 500 employees, and service-based businesses with less than 100 employees.
These fully amortized loans can cover 80 percent of business acquisition costs; 90 percent of purchasing, renovating, or refinancing costs; and 100 percent of equipment acquisition or debt refinancing costs. Terms range from 7 to 25 years; rates are competitive and fees consist of guaranty and closing fees. Loan values range from $200,000 to $5,000,000.
504 loans can address 80 percent of equipment acquisition costs and 90 percent of purchasing, building, or refinancing costs. We provide loans up to $12,000,000. We offer a first mortgage ranging from $100,000 to $3,000,000 to cover up to half of the LTV ratio; an SBA-affiliated Community Development Company supplies a second mortgage of $100,000 to $5,000,000.
For real estate transactions, first and second mortgage terms are 25 and 20 years. For equipment acquisition, both mortgages have maximum terms of 20 years. Second mortgage rates are fixed, and fees include closing, construction loan and bridge costs.
Discover Your Small Business Loan Options
Our SBA loan program is the ideal solution for most growing businesses. To learn more about our financing and your eligibility, contact Hillcrest Financial today.