If you are buying a business, expanding a business, buying out a business partner, or starting a new business, an SBA loan may be your best solution for financing. SBA loans almost always provide lower down payments, longer repayment terms, and easier qualifying criteria than conventional bank loans. When financing small business real estate, the down payment requirement can be as low as 10%, and it is typically half the amount of down payment required for traditional bank financing. Another benefit of SBA loans is long term financing. The repayment term for an SBA real estate loan is 25 years, so the business owner does not have the risk associated with renewing short term bank financing each time it matures in intervals like every three or five years. Since the SBA loan program is actually a business loan, and not a real estate mortgage, a business owner can include financing for other business expenditures as part of the same loan. With funding for new business equipment or working capital, in addition to financing the real estate, the SBA loan program is very versatile in its funding accommodation. With SBA financing, these loans have helped many small business owners realize the dream of owning their own real estate where the business operates. Let’s discuss what Fidelity Bank SBA Lending can do for you.
I felt this could be of value to all the small businesses out there especially in the aftermath of Hurricane Harvey and still in the rebuilding process.
Bruce Hurta SBA Business Development Officer Fidelity Bank 281-384-2595