Secure financing to purchase real estate, expand your facility, buy equipment or machinery, and power your growing business.
This program provides small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. It is designed to create employment opportunities by enabling expanding businesses to reserve working capital for growth.
|
Use of Funds |
Commercial real property acquisition 1 New facilities construction 1 Commercial mortgage refinancing 1 Heavy construction machinery and equipment purchases |
|
Standard Loan Structure |
50% financing from Cathay Bank 40% financing from SBA 504 Loan 10% down payment from borrower |
|
Terms |
Bank portion can be amortized up to 25 years with a 10-year maturity SBA 504 portion can be amortized up to 25 years with a 25-year maturity |
|
Interest Rate |
Bank portion can be either a fixed or variable rate SBA 504 portion is a fixed rate |
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Eligibility Requirements |
Business must be organized for profit Business must meet SBA size standards Business must be located in the United States |
For more information on SBA Loans, please visit www.sba.gov.
Please contact our SBA Department for all your SBA Loan needs at 866-228-4296 or speak with your local Cathay Bank branch manager.
