HomeStreet Bank is established as part of the Preferred Lender Program (PLP) from the U.S. Small Business Administration, which shortens the loan process.
SBA loans serve a variety of business financing needs, including:
- Owner-occupied commercial real estate financing
- Business acquisition or expansion
- Financing equipment and inventory purchase
- Refinancing business debt
- Inventory and working capital
- Financing for international trade loans
SBA ineligible industries
The Small Business Administration listed the following industries as not eligible:
- Insurance companies
- Loan packaging/lending firms
- Real estate investment
- Adult entertainment
- Cannabis-related ventures
For more information about ineligible industries, including a detailed list, visit SBA.gov.
SBA Loan choices
- Used to acquire a business, start a business, purchase equipment, provide working capital, refinance debt or to finance inventory.
- Term loan is 7 to 10 years for up to $5 million.
- Used for commercial real estate purchase, refinance or construction.
- Term loan is up to 25 years for up to $5 million.
- Used to purchase or construct owner-user commercial real estate, finance equipment purchase or construction improvements for existing facilities, or refinance debt.
- Term loan is 20 to 25 years for up to $11.25 million.
- Used as a working capital line of credit.
- Lines of credit 5 years for up to $500,000.
- Used to finance and meet seasonal and/or short-term working capital needs, advances against existing inventory and receivables, and for consolidation of short-term debt.
- Lines of credit 3 – 5 years for up to $5 million.
All loans subject to approval.
SBA loans are available to many types of businesses, from start-ups to established companies. Participating SBA lenders look for management capability, collateral pledged and the owner's equity contribution in evaluating the loan request. HomeStreet Bank and the SBA look at your ability to repay the loan from the cash flow of your business. Regardless of the age or size of your business, our SBA lending experts are ready to assist you in growing your business with financing to meet your business needs.