SBA Loan Programs
SBA Loan Programs
We are a recognized leader in Small Business Administration (SBA) lending in our communities, New Mexico and the nation. We are an award winning community lender and have been named ‘Community Rural Lender of the Year’ by the New Mexico SBA and ‘National Community Rural Lender of the Year‘ by the National SBA. As an SBA Preferred Lender we are able streamline and accelerate the loan approval process.
Call Rusty at 505.798.1121 to find out more about our SBA Lending Programs.
SBA 7(a) Loans
The primary purpose of the 7(a) loan program is to help start-up and existing small businesses.
Combined needs for:
- Commercial real estate
- Machinery and equipment
- Business acquisition/expansion
- Purchase of land and building including construction and renovations
- Working capital
- Refinancing of existing debt
| Maximum loan: | $5,000,000 |
| Maximum term: | Working capital – 7 to 10 years Furniture and fixtures – useful life Machinery and equipment – useful life Real estate – 25 years |
SBA 504 Loans (Real Estate and Equipment)
A 504 is a long-term financing instrument for economic development. 504 loans offer growing businesses long-term, fixed-rate financing for major fixed assets such as land, buildings and equipment.
Long-term needs for:
- Land and buildings
- Machinery and/or equipment
| Maximum loan: | $5,000,000 |
| Maximum term: | Machinery and/or equipment – 10 years Land and buildings – 20 years |
SBA Express Loan
The purpose of the SBA Express program is to help start-up and existing small business.
Short or long-term needs for:
- Commercial real estate
- Machinery and equipment
- Business acquisition/expansion
- Purchase of land and building including construction and renovations
- Working capital
| Maximum loan: | $350,000 (including any outstanding SBA Express, Community Express, Veterans Advantage loans) |
| Maximum term: | Revolving lines of credit – 7 years Working capital – 7 to 10 years Furniture and fixtures – useful life Machinery and equipment – useful life Real estate – 25 years |
Veterans Advantage
This SBA loan program is designed for small businesses that are 51% or more owned and or controlled by veterans, service disabled veterans, active duty military participating in the military’s Transition Assistance Program; reservist or national guard member or a current spouse of any of these groups; a widowed spouse of a service member who died while in service; or a widowed spouse of a veteran who died of a service-connected disability.
Short or long-term needs for:
- Commercial real estate
- Machinery and equipment
- Business acquisition/expansion
- Purchase of land and building including construction and renovations
- Working capital
- Refinancing of existing debt
| Maximum loan: | $500,000 (including any outstanding SBA Express, Community Express, Veterans Advantage loans) |
| Maximum term: | Revolving lines of credit – 7 years Working capital – 7 to 10 years Furniture and fixtures – useful life Machinery and equipment – useful life Real estate – 25 years |
To learn more about their loan programs.
To help guide you through the SBA loan process.