SBA LENDING
SBA Lending
Let our skilled team guide you to a well-designed SBA loan
Whether you're just starting a small business or expanding to take advantage of new opportunities, a loan through the U.S. Small Business Administration (SBA) may be right for you. SBA loans provide more flexible terms, lower down payment requirements, and an easier qualification process than most conventional loans. We are committed to supporting the growth and development of small businesses in America.
Designed to enhance cash flow and conserve capital, SBA loans may help you:
- Acquire commercial real estate
- Secure funding for equipment or expansion
- Acquire a business
- Finance a franchise
- Refinance an existing loan
As an SBA Preferred Lender, BankUnited can help you determine whether an SBA loan is right for your business needs. Our team of specialists will ensure an accurate and timely process.
SBA 7(a) Loan
The SBA's primary loan program offers growing businesses long-term financing for a wide range of needs, from real estate to working capital.
Why an SBA 7(a) loan?
- Long repayment terms – reducing monthly payments
- Frees up cash to expand your business
- Low down payment of as little as 10% on multipurpose real estate acquisitions and as little as 15% on single-purpose real estate acquisitions
- Financing available for most industry types including: manufacturers, hotels/motels, gas station/convenience stores, restaurants, assisted living facilities, and daycares
SBA 504 Loan
View DetailsGreat for long-term needs like buying commercial real estate, purchasing heavy equipment and constructing or renovating facilities. Less equity required versus a conventional business loan.
Why an SBA 504 loan?
- Low down payment of only 10%
- Long repayment terms – reducing monthly payments
- Frees up cash flow to expand your business
- Many rate options including long term fixed rates
- Associated fees and soft costs may be financed in the loan
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SBA 7(a) Loan
Use of Proceeds:
- Real estate – purchase, construction, renovation or refinance of commercial real estate – majority of space must be owner-occupied; loans up to $5 million
- Business acquisition – business, franchise or professional practice; loans up to $5 million
- Machinery & equipment – purchase or refinance; loans up to $5 million
- Start-up – franchised businesses; loans up to $5 million
Terms:
- Real estate – up to 90% financing, up to 25 years, prepayment penalty for initial 3 years (none after the end of year 3)
- Business acquisition – up to 80% financing, up to 10 years, no prepayment penalty
- Refinance – up to 25 years, prepayment penalty applicable for initial 3 years on terms greater than 15 years
- Rates are based on a spread over the Prime Lending Rate (rates vary depending on the specific strengths of the transaction)
- SBA Guarantee Fee is paid directly to the U.S. Small Business Administration; amount varies based on loan/guarantee amount; other customary fees also apply
- All SBA 7a loans are fully amortized and are assumable
All loans are subject to credit and property approval. Program not available in all states. Program terms and conditions are subject to change without notice. Other restrictions, limitations and fees may apply. All loans are offered through BankUnited, N.A. This is not a commitment to lend.
SBA 504 Loan
Use of Proceeds:
- Purchase, refinance, construction, or renovation of owner-occupied commercial real estate
- Purchase and installation of long-life machinery and equipment
- 50% financing – first mortgage from BankUnited
- 40% financing – SBA 504 second mortgage (provided through a local Certified Development Corporation)
- 10% minimum down payment by the borrower (15% in the case of special use properties)
Terms:
Fixed and variable rates available.
First mortgage
- Up to 25 years, fully amortized
- Prepayment penalty applies and is set based on various factors
Second mortgage
- 20 year, fully amortized
- Fixed rate is determined at SBA-guaranteed 504 debenture sale
All loans are subject to credit and property approval. Program not available in all states. Program terms and conditions are subject to change without notice. Other restrictions, limitations and fees may apply. All loans are offered through BankUnited, N.A. This is not a commitment to lend.
All loans are subject to credit and property approval. Program not available in all states. Program terms and conditions are subject to change without notice. Other restrictions, limitations and fees may apply. All loans are offered through BankUnited, N.A. This is not a commitment to lend.
