SBA Loans

Community 1st Bank provides U.S. Small Business Administration (SBA) loans to assist with a full range of small business solutions for just about any industry. SBA loans are government-backed loans that help businesses get started, expand and prosper.

These loans may be obtained to purchase commercial real estate, expand or modernize facilities, purchase equipment, finance business acquisitions, and supply working capital.

Being an SBA Preferred Lender, Community 1st Bank can quickly process and approve SBA loans, which streamlines the lending process. Our goal is to help with all your commercial loan needs with a personalized approach.

SBA Preferred Lender

Summary

SBA 504 Loans

SBA 504 loans are ideal for existing businesses with positive financial trends and promising growth potential. The experienced bankers at Community 1st Bank can explain the details of this program and make this process easy for you.

Some benefits of SBA 504 loans are:

  • Simple application process
  • Up to 90% financing for qualifying businesses (with up to 50% of the project financed by the bank and 40% by the Small Business Administration)
  • Low down payment
  • Low fixed interest rates for up to 20 years on the SBA loan portion

Proceeds of the loan can be used for:

  • Purchase, construction or renovation of owner occupied building
  • Purchase of equipment for business expansion
  • Expand or modernize facilities

SBA 7a Loans

While SBA 7a loans can finance the same projects as the SBA 504 Loan program, loan proceeds can also be used for debt refinancing, inventory, business purchases and working capital.

Some benefits of SBA 7a loans are:

  • Up to 90% financing
  • No balloon payments
  • Terms up to 25 years
  • Most small businesses are eligible
  • All loans are originated and serviced by Community 1st Bank
  • Limited prepayment penalties

Proceeds of the loan can be used for:

  • Commercial real estate purchases
  • Business purchases
  • Construction
  • Equipment, inventory or working capital
  • Refinance of debt

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Steve Budiono

Meet Your Banker

Ulrike Lapkass

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Geoff Miller

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Steve Martinez