SBA Loan FAQs
How is an SBA Loan different from other business loans?
HomeStreet Bank provides the actual loan to the business borrower. However, the 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 an 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) Business Loan
Use to acquire a business, start a business, finance equipment purchase or inventory, provide working capital, or refinance debt.
SBA 7(a) Real Estate Loan
Finance the purchase, refinance or construction of commercial real estate.
SBA Express Loan
Same uses as SBA 7(a) Business Loan, with the option of utilizing a revolving line of credit.
SBA Patriot Express Loan
Loan program specifically for military veterans and their families.
SBA 504 Loan
Provides financing for most business needs with the availability of higher loan amounts.
SBA Cap Lines
Provides financing to meet seasonal or short-term capital needs
View our SBA Loan Programs Summary
to learn more details on these SBA business financing options.
How does my business qualify for an SBA Loan?
SBA loans are available to many types of businesses, from established to start-ups. Participating SBA lenders look for management capability, collateral pledged and the owner's equity contribution in evaluating the loan request. HomeStreet 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? Contact us
today and select a HomeStreet SBA Loan specialist who will answer your questions, identify the SBA business financing program best for you and assist you through the loan process, from initial application to funding.
Why should I partner with HomeStreet for an 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 the Pacific Northwest with a 90-year track record of serving local businesses with innovative and competitive financing options.