SBA SMALL BUSINESS LOANS Small Business Administration Loans are designed specifically for small businesses and offer advantages that conventional loans don’t. These loans are guaranteed by the Small Business Administration, which allows lenders, like Core Bank, to provide loans to small businesses without requiring the collateral that a traditional commercial loan would require. Helping Guide Small Business Owners Core Bank’s team of friendly professionals is the trusted resource for small businesses to lean on for the financing needed to grow, and we are committed to providing the guidance you need. SBA LOAN TYPES Core Bank offers two types of SBA loans so you can choose the best option for the needs of your business. SBA 7(A) LOANS This is the SBA’s primary loan program for both existing and startup businesses to obtain financing that they wouldn’t be able to acquire through traditional lending options. 7(a) loans are highly flexible, allowing small businesses to use them for a variety of reasons, including working capital, furniture, real estate, machinery and equipment, and even debt refinancing in specific scenarios. For working capital, loan maturity is up to 10 years. For fixed assets, it’s up to 25 years. There are multiple types of 7(a) programs, including Express Programs, Export Loan Programs, and Special Purpose Loan Programs. SBA 504 LOANS The SBA 504 loan program is for growing businesses that need long-term, fixed-rate financing for purchasing fixed assets, including real estate, land, buildings, and equipment. Unlike the 7(a) loan, 504 loans can’t be used for things like working capital. 504 loans include three parties: a private sector lender (like Core Bank), a Certified Development Company, and the borrower or small business. Generally, the private sector lender covers 50% of the loan, the CDC covers 40%, and you, the borrower, are responsible for contributing 10% of the loan amount. SMALL BUSINESS LOAN INTEREST RATES Core Bank offers great interest rates with longer repayment terms (up to 25 years) freeing up cashflow for uses other than paying off debt. Sba Loan FAQs HOW DO SMALL BUSINESS LOANS WORK? HOW DO I QUALIFY FOR A SMALL BUSINESS LOAN? HOW MUCH CAN YOU BORROW WITH AN SBA LOAN? CONTACT CORE BANK Get in touch with our business banking team to learn more about our SBA loans, answer any questions you have, and to easily start the application process today! CONTACT US LATEST FROM THE BLOG CORE BANK BREAKS GROUND ON NEW SARPY COUNTY LOCATION We are pleased to announce that work has begun on our new full-service banking and mortgage center located at 114th and Highway 370 in Papillion, NE, slated to open summer 2022. John Sorrell, President and CEO says, “We have a true commitment to the Sarpy County... PROTECT YOUR BANK ACCOUNT IN 4 EASY STEPS Managing your bank account from your mobile phone or computer is easy and convenient, which is why according to Statista, 1.9 billion people now use some form of online banking system. With online and mobile banking, you can access your balances at any time, deposit... APPROVED TO OFFER SBA LOAN PRODUCTS UNDER SBA’S APPROVED LENDER PROGRAM. Twitter Facebook Instagram LinkedIn Google Plus © 2021 Core Bank. All Rights Reserved. NMLS# 401393 ATM Locator Privacy Disclosure Security Statement Cybersecurity US Patriot Act Sitemap