Get a loan tailored to your small business needs. As an SBA Preferred Lender (and local bank), we can get you a decision back fast — so you won't miss a step in building your business.
SBA Loans help meet your financing needs by offering:
- Longer terms (up to 10 years for working capital, equipment and machinery; up to 25 years for real estate)
- Flexible repayment options
- Lower down payments
- Improved cash flow so you can use your cash to grow your business and not on your loan payment
If you are a first-time business owner, you’re looking for more flexible terms, or you need an alternative to transactional financing, the U.S. Small Business Administration (SBA) offers a variety of loan programs to help businesses grow.
General Small Business Loan: 7(a)/SBA Advantage Loan Program
If you own a small, for-profit company or franchise, and you need additional funding beyond your personal assets, consider applying for this popular SBA loan program with a maximum loan amount of $5 million.
SBA Express Loans
SBA Express is available for revolving lines of credit or term loans up to $350,000 and offers a streamlined process with fast turnaround.
Export Express Loans
This program helps your business develop new export markets or to expand your existing export activities. The easy-to-use line of credit also offers a streamlined application process.
Designed to help small businesses meet short-term and cyclical working capital needs, the CAPLines program can be used to finance certain construction costs and contracts or manage seasonal working capital needs.
Real Estate & Equipment Loans: CDC/504/SBA Grow Loan Program
The SBA offers loans for fixed assets, like real estate or equipment, to Certified Development Companies (CDC). Eligible U.S. companies have a tangible net worth less than $15 million and an average net income less than $5 million for two years.
Compare the SBA Loan types side-by-side:
|General Small Business (7a)/SBA Advantage Loan Program||
||Up to $5 million (no guarantee fee for loans $150,000 and under)|
||Up to $350,000|
||Up to $500,000|
||Up to $5 million|
|Real Estate & Equipment – CDC/504/SBA Grow Loan Program||
||Up to $5.5 million (depending on business type)|
Minnwest is proud to be an SBA Preferred Lender, which means we can streamline the SBA loan application process, fast-track approval times and provide quicker access to funding.