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Learn about SBA Loan Types
SBA loans are business loans guaranteed by the U.S. Small Business Administration (SBA). These loans are designed to help small businesses cover financial needs, including expansions, property or equipment purchases, business startups, and other business expenses.
7(a) loans1
Ideal for combining real estate purchases with working capital or other business needs.
Eligibility1:
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The business must operate as a for-profit entity.
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Be considered a small business under SBA guidelines2.
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Demonstrate the need for a loan.
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Funds must be used for an eligible business purpose.
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Have no outstanding debt with the U.S. Government.
Uses:
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Short- and long-term working capital.
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Refinance existing debt.
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Equipment purchases.
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Purchase properties, land, and buildings for commercial use.
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New construction or renovation of an existing building.
Amount:
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Up to $5 million.
Terms:
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Up to 25 years for real estate.
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Up to 10 years for equipment, working capital, or inventory loans.
Interest rate:
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Fixed or variable.
SBA CapLines1
Fixed or revolving lines of credit to finance accounts receivable, inventory, construction contracts, or professional services.
Eligibility1:
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The business must operate as a for-profit entity.
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Be considered a small business under SBA guidelines2.
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Demonstrate the need for a loan.
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Funds must be used for an eligible business purpose.
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Have no outstanding debt with the U.S. Government.
Uses:
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Inventory purchase.
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Finance accounts receivable.
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Finance construction or service contracts.
Amount:
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Up to $5 million.
Terms::
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Terms from 1 month up to 10 years.
Interest rate:
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Fixed or variable.
504 Loans1

A good option for purchasing fixed assets such as real estate or equipment. It also offers long-term, fixed-rate financing for major fixed assets that support business growth and job creation.

Eligibility1:
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The business must operate as a for-profit entity.
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Net tangible worth of less than $15 million.
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Average income for the last two years of $5 million or less (after income taxes).
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Have qualified management experience, a feasible business plan, and the ability to repay the loan.
Uses:
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Purchase land and buildings.
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Construction of new facilities, improvements, or modernization of existing buildings.
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Purchase of long-term machinery and equipment.
Amount:
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Up to $5 million.
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Eligible energy projects may receive up to $5.5 million per project, for a maximum of three projects, as to not to exceed $16.5 million in total.

Terms:

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Terms between 5 and 10 years.
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Amortization up to 25 years.

Interest rate:

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Fixed or variable.
Have questions?
Call Us at 787-777-2021. We're more than ready to help.
Have questions?
Call Us at 787-777-2021. We're more than ready to help.

Mandatory Disclosures
 

(1) Benefits offered, eligibility requirements, and permitted uses of funds are established by the Small Business Administration (SBA). Other eligibility requirements may apply. For more information about SBA Loans, please visit https://www.sba.gov/funding-programs/loans.

 

(2) The SBA’s Office of Advocacy generally defines a small business as an independent business with fewer than 500 employees, although this may vary depending on the industry and revenue generated. For more information, please visit https://www.sba.gov/document/support-table-size-standards or https://www.sba.gov/size-standards/index.html.

Oriental Bank, Member FDIC.