SBA Lending

SBA loan products have been the key for many successful businesses over the years. Sovereign Bank offers these SBA products as an option to conventional small business financing. SBA loan products offer many benefits not found with other conventional bank loan products, whether in structure, term, or rate. Sovereign Bank can assist you with understanding the complexities of small business financing and tailor the loan products to meet your business needs.

SBA loans are originated and administered by our experienced team of loan professionals. Sovereign Bank is a preferred SBA Lender, the highest designation awarded by the SBA.

7(a) Loan Program

Purpose:
Business acquisition
Business expansion
Fixed asset acquisition
Real estate acquisition or construction
Working capital
Debt refinancing

Terms:
Up to 10 years for equipment or business acquisition
Up to 25 years for real estate
Full amortization – no balloons
Loan amount up to $5,000,000
Competitive rates
Loans are assumable

Equity requirements:
Up to 90% financing for real estate
Up to 80% financing for business acquisition
Up to 100% financing for fixed asset acquisition for existing businesses

504 Loan Program

Purpose: 
Real estate acquisition or construction
Fixed asset acquisition

Terms:
20 years for real estate acquisition/construction
10 years for fixed asset acquisition
Low long-term fixed rate on portion of loan
Financing up to $11 million for large projects
A portion of the loans are assumable

Equity requirements:
Up to 90% financing for real estate and fixed asset acquisition

 

For more information, please contact:

Kathryn Walker
Senior Vice President
Small Business Lending
972-713-1122

We look forward to serving you!