The U.S. Small Business Administration (SBA) offers several borrowing options for business owners and entrepreneurs, but the agency does not directly lend money; they partner with banks and community development organizations and establish guidelines for how those lenders can structure loans.The SBA lending experts at Centric Bank make it easy for you to take advantage of the SBA backed loans available!
How can I use an SBA loan?
- Do you need a business loan to grow or fund an expansion?
- Are you ready to buy or build commercial office space?
- Do you need working capital to fund your growing company?
- Are you ready to purchase a business or franchise?
If you answered Yes to any of these questions, an SBA loan may be your best small business financing solution! Our SBA Experts are ready to help.
Why an SBA Small Business Loan?
The SBA offers a number of loan programs designed for business owners who may have challenges qualifying for a traditional bank loan. An SBA loan may offer longer term financing than is available through conventional means. In addition, the loans have a fixed maturity, and there is no prepayment penalty for loans under 15 years.
- Flexible terms
- Competitive interest rates
- Potential for lower monthly payments
- Fixed and variable rate loan options
- Loan amounts up to $5 million, depending on the SBA program
There are several loan programs available from the SBA, and the right program will depend on your use for the funds and other factors. The Centric Bank SBA experts will help you determine which program is the best fit for your situation.
SBA 7(a) Loan and SBA Express Loan
- Good for business asset purchases and start-up companies
- All fees and costs associated with the project can be financed into the loan
- Products include term loans and working capital lines of credit
- May be used to refinance existing debt
- Equity from the borrower is flexible, depending on the project
SBA 504 Loans
- Generally for larger projects involving owner-occupied real estate acquisition, construction, and equipment
- Equity injection from the borrower, depending on the project, is flexible
- Bank works with local Community Development Corporations and SBA to provide project funding
- Can be used to refinance existing commercial debt with the possibility for fixed rates and longer terms
Saying Yes Faster
As a small business, you can choose from many SBA lenders. Why choose Centric Bank? Our team will walk you through an easy-to-navigate application to determine if an SBA loan is a good financial decision. You can also apply by filling out the PDF version of our Business Loan Application. And if it’s not right for your business, we’ll find the best financing option. Email, call, or visit—choose your channel, and we’ll collaborate on the quickest way to get to Yes!
To evaluate your specific borrowing needs, connect with a Centric Bank SBA loan specialist today!
Centric Bank: Your Partner in Business SuccessAs a community bank, our team has helped thousands of businesses succeed. We offer more than financing and loans for companies. As part of the Pennsylvania community, we’re also the patrons and customers of many of the businesses that come to us for support.
To further discuss which SBA or business loan might be right for your organization, contact one of our commercial lenders at 888.274.2033 or connect online.
A Leader in Small Business Financing
Centric Bank is small business, just like you, and we know what it takes to succeed. Many of our business clients return to our professional and helpful bankers year after year for their financing needs because they know they can trust us for practical, honest and convenient assistance.
Whether you’re looking forward to the launch of your company or have served customers for years, consider SBA loans as a flexible option when you need financing. SBA loans can help if you want to start a new business, refinance debt, pay for working capital, invest in equipment or other needs, expand, buy business property or take on any other project.
Centric Bank’s SBA specialists can walk you through your financing options and explain eligibility. We can help you compare options, so you find the right fit. We can also guide you through the application process. When you have questions, Centric Bank has answers.
Centric Bank is committed to helping business owners realize their dreams. Small companies revitalize Pennsylvania’s economy and support the wealth of our nation, and we express our gratitude by providing professional and robust business services for our clients. For SBA’s fiscal year ending September 30, 2016, Centric Bank loaned more SBA secured money to small companies than any other financial institution in the SBA’s Eastern Division. We look forward to offering even more support to small companies in the future.
If you’re ready to realize your business success and would like to discuss financing options, contact the business specialists at Centric Bank. You can reach us online or by calling 888.274.2033. We look forward to speaking with you!