Alliance Bank offers two kinds of Small Business Administration loans to help you start or grow your business, purchase/refinance an existing building or construct a new facility. While each loan offers different terms and loan structures, both offer excellent rates and are available with extended terms to keep your monthly payments low.
SBA 7(a) Loans:
- Used to purchase equipment or inventory, provide working capital, refinance existing debt, or to acquire real estate
- Terms range from 5 to 25 years and are fully amortized, keeping payments consistent and stable
- Interest rates are variable and typically lower than fixed rate loans
SBA 504 Loan:
- Primarily used for owner occupied real estate or equipment acquisitions
- Long payment terms and as little as 10% down payment
- The SBA portion of the loan has a fixed interest rate that’s typically lower than conventional financing rates
To learn more about our SBA loan options, contact your Alliance Banker. As one of the leading commercial banks in the Twin Cities, we’re here to answer your questions and to guide you through the entire process quickly and easily.