A small business doesn’t mean a small budget. Horizon Bank can help your business grow with Small Business Administration loans. As an SBA-preferred
lender, we’ll help you navigate the process and select the best loan for your business.
Helping Small Businesses Be Strong Businesses
SBA 7(a) loans
The SBA 7(a) loan is ideal for small businesses needing acquisition, expansion, and equipment funding. Additionally, the loan covers real estate and working capital. Equity, needs, purpose, and additional factors determine eligibility. The main benefits include:
- Longer terms. The longer SBA 7(a) term length gives your business time to grow while repaying the loan.
- Flexible collateral requirements. Small businesses don’t always have tangible assets – flexible collateral gives you room to get started or grow!
- Lower required monthly payments. Take time to make your business profitable with lower monthly payments.
SBA 504 loans
The SBA 504 loan meets specific needs, including construction, equipment, real estate, and property improvements. Net worth, revenue, business size, and other factors determine SBA 504 eligibility. Benefits of the SBA 504 loan include:
- Longer terms. Longer terms provide more time to repay the loan at lower monthly rates.
- Fixed interest rates. These rates protect the long-term success and growth of your business.
- Lower down payments. SBA 504 loans require down payments as low as 10%, making the loan accessible for small businesses like yours.
Our team works to understand your business’s goals, gather the appropriate approvals, and get the funds to you without delay. Talk to a Horizon business advisor today to find out what small business loan is right for you! Call today at 888-873-2640.