SBA Lending
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SBA Loans

7a Loans

The 7(a) program is SBA’s best known and most widely used loan program. It can be utilized by existing businesses as well as start-ups.

Use of Loan Proceeds:

  1. Purchase business real estate (land and buildings)
  2. Construction / renovation of buildings
  3. Purchase machinery and equipment
  4. Working capital - includes purchase of inventory and financing receivables
  5. Purchase an existing business, or start up a new business
  6. Debt refinancing (certain restrictions apply)

Terms of Loans:

SBA Loans feature fully amortizing notes with no balloons.

Other Requirements:

  1. As a general rule, loans for business purposes and real estate acquisitions require an equity injection depending on the asset being financed.
  2. Applicants for SBA loans must be citizens of the United States, or have legal permanent residence status. Also, the owners/principals of the business must be of good character. Any prior arrests or criminal charges must be disclosed.
  3. The SBA charges a guaranty fee that must be paid at the time the loan is funded. However, the guaranty fee can be paid from loan proceeds.

How to Apply:

  1. Gather basic information concerning your business and loan request. (A list of minimum required information is provided below.) Contact UCB to schedule an appointment to discuss your loan request.
  2. As an SBA Preferred Lender, UCB has the authority to approve most SBA loans in house. However, some applications may need to be submitted directly to SBA for final approval.
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