Small Business Administration Loans (SBA)
Secure the financing you need for your small business to succeed!
A government-backed SBA Loan offers competitive-rate financing to qualifying small businesses that might have difficulty securing a loan otherwise. Take advantage of generally lower down payments and longer terms compared to conventional business loans – plus, a localized process through Parkway Bank.
You can count on our knowledgeable, friendly lending team to answer your questions and assist you along the way.
We offer the following types of SBA Loans:
7(a) LOANS
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504 LOANS
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| Use for expansion, renovation, new construction, purchasing land or buildings, purchasing equipment or fixtures, lease-hold improvements, working capital, refinancing debt for compelling reasons, inventory, or starting a new business. |
Use for the purchase, refinance or construction of existing commercial buildings or land, or new facilities. May also include additional funding for long-term machinery and equipment. |
| Applicants must be a for-profit business and meet SBA size standards, and show good character, credit, management, and ability to repay. Must be an eligible type of business. Ask our loan officers for more information. |
(51% for existing or 60% for new construction) |
| Benefits include down payments as low as 10%, long-term financing, improved cash flow, fixed maturity, no balloons, no prepayment penalty (for loans of less than 15 years). |
Benefits include low down payment (10-20%), SBA Portion:
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For more information about our Small Business Loans, please contact:
Juan Chavarin, Jr., Vice President, Commercial Lending: (708) 867-2206;
[email protected]
Diego Mangawan, Executive Vice President, Commercial Lending: (708) 867-2530;
[email protected]
- Government-assisted help for businesses that might otherwise have difficulty getting approved
- Use for a wide range of business needs
- Generally lower down payments and extended terms
- Terms up to 10 years available for 7(a) Loans, depending on loan purpose
- Real estate loans have a maximum term of 25 years
- Additional considerations taken when deciding maturity**
- Local decision-making and processing
- Friendly, helpful service from our experienced lending team - we're here to assist you!
*7(a) Loan rates may be fixed or variable. Variable rates are subject to change during the term of the loan, and are adjusted based on the Prime Rate published in The Wall Street Journal.
**Loan maturities are based on the ability to repay, the purpose of the loan proceeds, and the useful life of the assets financed.