SBA Real Estate Loans
Altabank offers financing for small businesses and start-ups through the Small Business Administration (SBA). Your company may qualify for a loan of up to $5 million to invest in the acquisition, construction, or improvement of land and equipment. As an SBA preferred lender, Altabank has done this a few (thousand) times. We know how to quickly get you into the right loan to help grow your business.Get Started
SBA 504 vs. 7(a) Loans
SBA 504 and 7(a) loans both promote small business expansion, however, applying for one or the other determines what the funding can be used for, repayment terms, and eligibility requirements. SBA 504 loans are intended for fixed purchases and are designed to support a community’s economic growth development. SBA 7(a) loans are more common, and funds may also be used as working capital. Both have a maximum amount of $5 million and are only available to small for-profit businesses as defined by the SBA.
Rates & Eligibility
Each SBA real estate loan will be evaluated on an individual basis. However, the odds of receiving a loan is improved if your company:
- Operates as a for-profit business (required)
- Can demonstrate a healthy financial history
- Maintains a healthy credit score
- Abides by the SBA size standards
- Does not engage in any type of illegal activities
How to Apply
A period of rapid growth is an exciting (but often overwhelming) time for business owners. Altabank is ready to help your company make this leap, and the next. Visit any Altabank location and a team member will help you apply for an SBA real estate loan.