Small Business Loan

SBA Loan Program

The Small Business Loan Program at Prime Commercial Lending is an excellent source of financing for most businesses. Prime Commercial Lending has been designated as a Preferred Financial services company by Preferred SBA lenders to have loans processed more quickly and efficiently than many others. This designation means that the SBA has delegated the approval process to our lenders which means fast and efficient processing of your SBA loan.

COMMERCIAL/INDUSTRIAL REAL ESTATE FINANCING

* Purchase * Build * Refinance * Renovate * Owner-occupied

Non-conforming properties
Single-purpose buildings
Gas stations
Restaurants
Repair Shops
Auto Dealerships
Hotels and motels
Convalescent hospitals
Veterinary

EXISTING BUSINESS ACQUISITION LOANS

Your company’s Cash Flow & Management Capabilities are our primary indicators

Up to $1.25 million a year
Up to 15 year term
Up to 80% financing
Loans fully amortized, no balloons
No pre-payment penalty
48 hour pre-qualification

EQUIPMENT FINANCING

Commercial printing and binding
Machine tools
Manufacturing Equipment
Heavy Equipment
Trucking
Medical Equipment
Laundry/dry cleaning
Diagnostic Equipment

LOANS UP TO $5 MILLION

No cost pre-qualification letters
Competitive rates and flexible terms
No pre-payment penalties
Up to 90% financing
Up to 25-year terms
Fully amortized
Fixed and variable rate options on both 7a and 504 programs

7(a) Loan Program

We specialize in providing long term permanent financing to small businesses. Our loans, including the 7(a) Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Eligible Businesses and Property Types

Almost any type of for-profit business is eligible for financing. Commercial real estate must be partially occupied by borrower and includes, but is not limited to, the following types of properties:

  • Office Buildings
  • Warehouses
  • Industrial Buildings
  • Manufacturing
  • Child Care Facilities
  • Car Wash Facilities
  • Automotive Repair
  • Shops
  • Professional Buildings
  • Hotels and Motels
  • Restaurants
  • Gas Stations
  • Bed and Breakfasts
  • Franchises
  • Start-ups
  • Single-Use Buildings

Eligibility based on SBA size standards. Typically, retail businesses with annual sales of less than $6,000,000, manufacturing business with less than 500 employees, and service businesses with less than 100 employees. Eligible businesses include those in retail, manufacturing, and services industries.

Use of Proceeds

  • Real estate acquisition, construction or refinance – up to 90% financing available
  • Business Acquisition – up to 80% financing available
  • Equipment Acquisition – up to 100% financing available
  • Debt Refinance -up to 100% financing available

Terms

  • Up to 25 years for real estate financing
  • Up to 10 years for equipment or business acquisition financing
  • Up to 7 years for permanent working capital
  • All loans are fully amortized.
  • Interest Rates and Fees
  • Interest rates are always market competitive. Fees are generally limited to the SBA guaranty fee and customary closing costs.

Loan Amounts

Loan amounts range from $200,000 to $5,000,000

504 Loan Program

We specialize in providing long term permanent financing to small businesses. Our loans, including the 504 Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Use of Proceeds

  • Real estate acquisition or construction – up to 90% financing available
  • Equipment Acquisition – up to 80% financing available
  • Loan Structures
  • Financing available on projects up to $12,000,000.

1 ) Prime Commercial Lending typically provides a first mortgage of up to 50% of the total loan to value. This loan can range from $100,000 to $3,000,000.

2) The SBA, through a Community Development Company (CDC) provides up to

40% loan to value in a second lien position. This loan can range from $100,000 to $5,000,000.

Terms and Interest Rates

  • First Mortgage – up to 25-year term for real estate loan and up to 15-year term for equipment purchase with fixed and variable interest rates available.
  • Second Mortgage – up to 20-year term for real estate and up to 15-year term for equipment purchase. Fixed rate is determined at SBA guaranteed 504 debenture sale.

Fees

  • First Mortgage – fees are always market competitive.
  • Second Mortgage – 2.75% + legal review fee. This fee is financed in the loan.
  • Fees also include customary closing costs, construction loan fees (if applicable), and bridge fees.

Eligible Properties

Almost any type of for-profit business is eligible for financing. Commercial real estate must be partially occupied by the borrower.

GET PRE-QUALIFIED TODAY

Simply fill out the form below and one of our financial specialists will give you a no-cost analysis of what we can provide for your company.