Small Business Administration (SBA) 7(a) Loan
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United Bank of Philadelphia provides financing assistance through the SBA 7(a) Loan Program.
This most commonly used loan product is designed to help eligible small businesses obtain financing for a variety of business purposes under the guarantee of the SBA.
Major advantages of a SBA Loan
- Low down payment (as low as 10%)
- Flexible requirement on collateral
- Longer terms than most conventional loans (up to 25 years for owner-occupied commercial real estate acquisition)
Use of Funds
- Working capital
- Equipment and inventory purchases
- Leasehold improvements
- Business acquisition
- Commercial real estate acquisition
- Business debt refinancing
SBA Guaranteed Percentages
- 85% guarantee for loans up to $150,000
- 75% guarantee for loans greater than $150,000
The maximum loan maturities vary depending on the use of proceeds:
- Working capital—5 to 7 years
- Fixed asset acquisition—7 to 10 years
- Leasehold improvements—7 to 10 years
- Business acquisition—10 years
- Commercial real estate acquisition—up to 25 years
Variable rate tied to the Wall Street Journal Prime Rate plus a margin.
- Business must meet the SBA size standards as to annual gross sales or number of employees
- Business must be a for-profit operation
- Business must be located in the United States
For more information, contact:
Coston Cobbs, Senior Lending Officer
Juliette Williams-Holmes, Commercial Lender
Download the United Bank of Philadelphia SBA 7A Loan Brochure>>