BNC National Bank has a robust Small Business Administration (SBA) lending practice in the markets it serves. BNC provides SBA financing to myriad businesses from the small sole proprietorship to larger corporate entities. The SBA has greatly relaxed the eligibility requirements for obtaining SBA loans; allowing more businesses than ever to potentially take advantage of the benefits offered by the SBA loan program. In addition, the maximum loan size standards have been increased from $2.0MM to $5MM, thereby expanding the possible financing solutions available to this larger universe of businesses via SBA financing.
SBA financing provides many benefits to the borrower that may not be available through conventional lending structures and terms, or, may allow a company to obtain financing that is not available on a conventional basis. Portions of SBA loans are guaranteed by the federal government, which allows the lender to extend more favorable terms to the borrower in many instances. This allows the lender to underwrite loans with a lesser emphasis on collateral as well provide extended repayment terms; up to 10-years on non-real estate assets/purposes and 25 years on real estate loans. SBA loans may be utilized for multiple purposes such as business acquisitions, business startups, owner-occupied real estate construction or purchase, equipment purchases, working capital or debt refinance.
For more information contact BNC National Bank today to discuss options available to you under the SBA lending program.