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:
- Gambling
- Insurance companies
- Non-profit
- 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 FAQs
What does SBA stand for?
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.
How is an SBA Loan different from other business loans?
HomeStreet Bank provides the actual loan to the business borrower. However, the U.S. SBA guarantees a portion of the loan, usually 50% to 85%, depending on the loan program. With the SBA partial guarantee, lenders are more confident in making the decision to finance a business client's needs, regardless of the age or size of the business.
What are the benefits of a SBA Loan?
- Longer loan terms (up to 7 years for working capital and up to 25 years for real estate financing)
- Lower down payment options
- Flexible repayment options
What types of SBA Loans are available?
- SBA 7(a) Real Estate Loan & SBA 7(a) Business Loan
- SBA 504
- SBA Express
- SBA Cap Lines
How does my business qualify for an SBA Loan?
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.
How do I apply for an SBA Loan
We start with identifying the best SBA business financing program for you and assist you through the loan process, from initial application to funding.
Why should I partner with HomeStreet Bank for a SBA Loan?
We'll analyze both SBA and conventional business loans options for you, recommending the most cost-effective solution for your business objectives. You'll have a choice of SBA loan programs with lower down payments and a wider range of terms. Plus, you'll have a local banking partner based in Western U.S. with a 90-year track record of serving local businesses with innovative and competitive financing options.
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