Compare SBA Loans. Find out which is right for you.

SBA 7(a) SBA Express SBA 504
Eligibility

For-profit businesses

Small business qualification by SBA guidelines

Size varies by industry type

For profit businesses

Small business qualification by SBA guidelines

Size varies by industry type

Existing, for-profit businesses

Average 2-year net worth of $15 million or less, net profits $5 million or less after taxes

Applicant must occupy at least 51% of property acquired.

Loan Size Up to $5 million for SBA loan guarantee Up to $350,000

Up to $12.5 million of total project cost

Maximum SBA loan up to $5 million

Use of Proceeds
  • Land
  • Buildings
  • Machinery & Equipment
  • Purchase business inventory
  • Leasehold Improvements
  • Working capital
  • Debt refinancing
  • Land
  • Buildings
  • Machinery equipment
  • Purchase business inventory
  • Working capital
  • Debt refinancing
  • Land
  • Buildings (new purchase, new construction or renovation)
  • Machinery and equipment (10-year minimum useful life)
Financing

Provided by TotalBank

SBA provides an 85% guarnatee to TotalBank on loan amounts of $150,000 or less, 75% guarantee on loan amounts of $150,000 or more

Provided by TotalBank

SBA provides 50% guarantee

50% financed by TotalBank

40% SBA loan through Certified Development Co.

10% borrower injection (increase injection required on new businesses or special-purpose real estate)

Collateral

SBA requires TotalBank to take a secured interest in business assets

Additional collateral may apply

SBA requires TotalBank to take a secured interest in business assets

Additional collateral may apply

TotalBank holds first mortgage on real estate and/or secured interest in equipment and machinery

SBA holds second mortgage on real estate or second secured interest in equipment and machinery

Loan Terms

Working capital/inventory up to 7 years

Equipment: up to 10 years (or useful life)

Real estate: up to 25 years

Fully amortizing term loan up to 7 years

Equipment up to 10 years

Real estate up to 25 years

TotalBank loan: minimum 25 years amortization on real estate, 10 years on machinery and equipment

SBA loan: 20 years on real estate

10 years on machinery and equipment

Interest Rates

Fixed or variable

A maximum of WSJ Prime Rate + 2.25% term (less than 7 years)

WSJ Prime Rate + 2.75% term (Greater than 7 years)

A maximum of WSJ Prime Rate + 6.5% for loans of $50,000 or less

WSJ Prime Rate + 4.5% for loans over $50,000

TotalBank loan: negotiated rate between borrower and TotalBank (fixed or variable)

SBA loan: below-market, fixed-interest payment; loan rate set when debenture is sold


Get started 

To apply, or for more information, contact one of our convenient Banking Centers or call us at (305) 448-6500.
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