Small Business Loans

Small Business Loan Overview


Loan Terms

  • Term loans for up to 84 months; fixed interest rates: 7.5-9.5% as determined by underwriting system
  • Loan amounts range from $5,000 to $250,000
    • $5,000-$50,000: any business including start-ups
    • $50,000-$100,000: existing businesses with minimum of 2 years in operation
    • $100,000-$200,000: existing businesses with minimum of 3 years in operation
    • Over $200,000: select existing businesses with minimum of 5 years in operation
  • Average time to approval: 30-60 days after receiving complete application package
  • Uses: gap financing, machinery & equipment, inventory, leasehold improvements, real estate, business debt refinance and working capital.
  • Eligible businesses include: start-ups, retail, restaurants, manufacturing, transportation and more

Complete Loan Application Package includes

  • Completed loan application
  • $100 application fee
  • Resume for owner(s) and management team
  • Personal financial statement for owners and guarantors
  • Tax returns for 3 years
  • Business plan (if start-up company) or business plan summary (if in business for 12 months or more)
  • Projected cash flow for 3 years
  • Business financial statements
  • Business and personal tax returns (for past 3 years, if applicable)

Other Fees

  • Commitment Fee: $100 or 2% of loan, whichever is greater
  • Applicable closing cost fees depending on loan type

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