FDIC-Insured - Backed by the full faith and credit of the U.S. GovernmentFinancing Guide
We’re Here to Establish a Strong Banking Relationship
United Bank of Philadelphia, your relationship bank, is committed to supporting small businesses in the Greater Philadelphia region. These enterprises are essential to the local economy as they create and retain jobs. Our Relationship Team is here to guide existing businesses who are seeking to increase working capital, to finance business expansions or acquisitions, or to implement other growth strategies. This Financing Guide will help you navigate through the process. Remember, you should be looking for a relationship, not a transaction and that’s what we’re all about. We pride ourselves in building genuine relationships with our community.
What is a 7(a) Loan
The 7(a) Loan Program, SBA’s most common loan program, provides financing for:
Commercial Real Estate – Purchase a commercial building for your business.
Equipment and Inventory Purchases – Replace and improve appliances, fixtures, furniture, or machinery.
Business Acquisitions – Expand and grow with funds at your fingertips while building the community around you.
Business Debt Refinancing - Refinance existing debt while securing a strong cash flow.
Working Capital – Access funds needed to maintain payroll, purchase inventory, and market your business.
Determine Eligibility
To be eligible for 7(a) loan assistance, business must:
Operate for profit
Must be a small business as defined by SBA
Have reasonable equity to invest
Not delinquent on any existing debt obligation to the U.S. Government
Have your personal credit report in order, along with your credit score
Have a well-written business plan that shows your growth potential. In that plan, please include a cash flow statement, a break-even analysis, a personal financial statement, and your funding needs.
Contact Us
Our relationship team understands the unique challenges of business. Send your questions to businessbanking@ubphila.com or contact a member of our business banking team.
Coston Cobbs
ccobbs@ubphila.com
(215) 231-3692
Dimitria Davenport
ddavenport@ubphila.com
(215) 231-3678
At United Bank of Philadelphia, your business is so much more than a transaction; it is a relationship.