Helping Your Small Business Grow
As part of our commitment to helping small businesses grow, Landmark Bank offers Small Business Administration (SBA) loans to qualifying businesses. These special loans offer fixed interest rates and longer repayment terms. SBA loans are ideal for large one-time investments, purchasing an existing businesses or refinancing debt.
When it comes to assisting small businesses in our community, Landmark Bank puts you and your business first. We provide one-on-one consultations and work with you to set up a strategy to manage your small business with loans that save you money and time.
Our business bankers can help determine if you are eligible for the following SBA-backed loan programs.
SBA 7(a) loans
SBA 7(a) loans offer financing opportunities for eligible organizations based on industry, business size and other factors and include:
- Special purpose loans – for businesses dealing with special circumstances, such as those affected by NAFTA or those working to implement pollution control solutions.
- Rural business loans – available for borrowers in rural communities where factors such as high unemployment and declining population may be particularly challenging.
SBA 7(a) loans may be used to:
- Provide long-term working capital to use to pay operational expenses, accounts payable and/or to purchase inventory.
- Fund short-term working capital needs, including seasonal financing, contract performance, construction financing and exporting.
- Revolve funds based on the value of existing inventory and receivables, under special conditions.
- Purchase equipment, machinery, furniture, fixtures, supplies or materials.
- Purchase real estate, including land and buildings.
- Construct a new building or renovate an existing building.
- Establish a new business or assist in the acquisition, operation or expansion of an existing business.
- Refinance existing business debt, under certain conditions.
SBA Express programs help expedite the small business lending process. The program reduces the number of government-mandated forms, streamlining loan processing time. SBA Express loans may be used to refinance existing business debt and provide faster turnaround with a maximum loan amount of $350,000. Export Express loans are available to assist the export community.
SBA 504 loans are part of an economic development program designed to boost business growth and jobs creation. The program includes long-term, fixed-rate financing for fixed business assets such as the purchase of land, buildings or equipment, or renovations to existing facilities.
For more information on SBA loans, contact a Landmark Bank business banking advisor.