SBA 7(a) Loan
The SBA 7(a) Loan Program is Home Federal Bank’s primary term loan option to help a business obtain financing when it might not be eligible for a loan otherwise. If you are awarded a 7(a) loan, the funding may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business.
The SBA 7(a) loan offers longer maturity terms than conventional loans. In addition, you may use this loan for a number of purposes including:
- Working capital
- Machinery and equipment
- Furniture and fixtures
- Leasehold improvements
- Land and building (including purchase, renovation and new construction)
- Debt refinancing (under special conditions)
Home Federal Bank is a SBA Preferred Lender!
As a Preferred Lender for the U.S. Small Business Administration (SBA), we have the delegated authority to process, close and service most SBA loans without prior SBA review. Our experienced Relationship Managers can provide you with quick approval and loan processing turnaround to save you time and money.
To be considered for a SBA loan, borrowers must meet certain eligibility requirements. Call or stop by your local Home Federal Bank branch to discuss your SBA loan options today.