Get the working capital you need to start a business, grow your organization or take ownership of an existing company.
This is a government-guaranteed loan program to encourage lenders to extend business loans to qualifying small businesses that cannot obtain funds on reasonable terms through other conventional lending. The maximum SBA 7(a) Loan amount is $5,000,000.
Use of Funds
Equipment and inventory purchases
Commercial real property acquisition
Business debt refinancing
SBA Guaranteed Percentage
85% guaranteed by SBA for loans up to $150,000
75% guaranteed by SBA for loans greater than $150,000, subject to the $3,750,000 maximum guaranteed amount
The maximum loan maturities vary depending on the use of proceeds:
Variable rate tied to the Wall Street Journal Prime Rate plus a margin
Must meet the SBA size standards as to annual gross sales or number of employees
Must be a for-profit business operation
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.