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.
The U.S. Small Business Administration (SBA) is a federal agency committed to helping small businesses succeed and grow by guaranteeing loans to small businesses made through lending partners. HomeStreet Bank SBA loans provide greater flexibility in repayment terms and lower monthly payments.