SBA Loans

Small Business Administration Loans with a Top SBA Lender

Accessible options, competitive terms, and a range of specialized programs—SBA loans exist to meet the diverse needs of small business owners, and First Bank and Trust Company is a proven partner in streamlining small business loan solutions. 

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A Preferred SBA Lender

First Bank and Trust Company is recognized as a Preferred SBA lender, and the #1 SBA lender headquartered in Virginia, by loan approval amount as of 10/31/2023. Our team is experienced and efficient in helping small businesses obtain financing.

7(a) Guaranteed Loan Program

The SBA's primary business loan program is the 7(a) General Business Loan Guaranty Program. It's generally used for business start-ups and to meet various short and long-term needs of existing businesses, such as equipment purchase, working capital, leasehold improvements, inventory, or real estate purchase. These loans are generally guaranteed up to $3.75 million. Maximum loan amount is $5 million. The guaranty rate is 85 percent on loans of $150,000 or less and 75 percent on loans more than $150,000.

The guidelines for SBA guaranteed loans are similar to those for standard bank loans. In addition, your company must qualify as a small business according to SBA standards, which vary from industry to industry.

504 Local Development Company Program

The 504 Loan Program provides long-term, fixed-rate financing to small businesses to acquire real estate, machinery, or equipment. The loans are administered by Certified Development Companies (CDCs) through commercial lending institutions. 504 loans are typically financed 50 percent by the bank, 40 percent by the CDC, and 10 percent by the business.

Use your SBA financing for:

  • Short-term working capital needs, covering seasonal financing, contract performance, construction financing, and exporting.
  • Revolving lines of credit based on the value of existing inventory and receivables.
  • Purchase of equipment, machinery, furniture, fixtures, supplies, or materials.
  • Acquisition of real estate, including land and buildings.
  • Construction of a new building or renovation of an existing one.
  • Establishment of a new business or assistance in the acquisition, operation, or expansion of an existing one.
  • Refinancing of existing business debt under specific conditions.

The SBA loan program process is handled by highly skilled and experienced bankers who are familiar with the eligible programs, and we will walk you through the steps to obtain this type of loan.

The following web address provides the most recent Quick Reference Guide to SBA Loan Guarantee Programs.

SBA Express: SBA Express features an accelerated turnaround time for SBA review, expediting the decisioning and turnaround when time is of the essence. 

Eligibility for an SBA Loans varies based on the loan program.

To be eligible for a Standard 7(a) Loan, businesses must:

  • Operate a for profit business, designated as small by SBA size requirements.
  • Be located in the U.S.
  • Demonstrate then need to apply for a loan and the ability to repay the loan.

Additional restrictions apply. Please contact a Commercial Loan Officer for additional information.

SBA Loan rates and repayment terms vary according to several factors. Get in touch with a Commercial Loan Officer to discuss eligibility, rates, and loan terms today.

To apply for an SBA Loan, you'll need to contact a participating SBA Lender. To apply with First Bank and Trust Company, simply reach out to one of our Commercial Loan Officers. (Link to Commercial Loan Officers teams page)

You can apply for an SBA Loan by setting up an in-person appointment at any of our over 30 locations. 

A commercial loan officer will help you determine which documents you will need based on the circumstances of your application. 

Apply for SBA Financing with Us

SBA guaranteed loans are made by private lenders and are guaranteed up to 85 percent depending on the SBA program the loan qualifies for. When you apply for a small business loan with a trusted SBA lender like First Bank and Trust, you can make your money work for you.

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