Success grows from small business loans.
SBA loans provide businesses with access to capital that might not otherwise be available, with more flexible underwriting than conventional business loans. The various SBA loan programs have unique requirements and structures, depending on the purpose of the loan and the borrower’s need and ability to repay.
American Bank is an SBA Preferred Lender!
Preferred Lenders can help businesses get funding faster than other SBA lenders. Our institution has the authority to make final credit decisions rather than submitting them directly to the SBA for approval.
American Bank is an active participant in the SBA’s two largest loan programs – the SBA 7(a) program and the 504 program.
SBA’s most common loan program, provides small businesses with loans up to $5 million.
Basic uses for the 7(a) loan include:
- Permanent and short-term working capital.
- The purchase of equipment, machinery, furniture, fixtures, supplies, or materials.
- The purchase of real estate, including land and buildings.
- The construction of a new building or renovation of an existing building.
- Establishing a new business or assisting in the acquisition, operation or expansion of an existing business.
- Refinancing existing business debt, under certain conditions.
504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who promote economic development within their communities.
CDCs are certified and regulated by the SBA. The maximum amount of a 504 loan is $5 million, and it can be used to purchase a range of assets that promote business growth and job creation.
These include the purchase or construction of:
- Existing buildings or land.
- New facilities.
- Long-term machinery and equipment.
- The improvement or modernization of land, streets, utilities, parking lots and landscaping.
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Ready to apply? We’ll be by your side through every step of the process. But first, we need a little information about your venture.
Lending solutions that can help you manage your company's stability, position, and long-term growth.
Our bankers have the lending expertise to provide the financing your practice may need to prosper.
Our bankers can create flexible loan structures to fit your company's specific needs.