7(a) Loan Program
The SBA 7(a) loan program is a flexible commercial loan product and the flagship lending program of the SBA. Working in partnership with the SBA, Evolve Bank & Trust provides the loan, and the SBA guarantees it. This allows us to reach more small businesses. The loan process is handled by the expert team at Evolve’s SBA Division making the process as smooth as possible.
SBA Preferred Lender
Evolve Bank & Trust is proud to be a Preferred SBA Lender. This means that we have designated authority from the SBA loans to make credit decisions on SBA 7(a) loans without obtaining additional approval from the SBA. This greatly reduces the processing time for your SBA loan request.
Use of Proceeds
Whether you need to buy new equipment or acquire a new business, the Evolve team can help you with the following:
|Equipment Purchases||Debt Refinance|
|Leasehold Improvements to Real Estate||Working Capital|
|Business Acquisition||Start-Up Expenses|
|Commercial Real Estate Purchasing|
Loan maturities will range from 10-25 years depending on the use of funds. All loans are fully-amortizing meaning no balloon payments. At Evolve Bank and Trust we consider loan requests between $250,000 and $5,000,000 which is the maximum 7(a) loan amount. We offer competitive interest rates.
Our SBA Team is here to make your application process as smooth as possible. We have the people and tools in place to guide you through the entire process. We are experts in SBA lending, so you don’t have to be. We look forward to assisting you in getting your business to the next level.
504 Loan Programs
The 504 Loan Program is used to finance the purchase of fixed assets, including owner occupied commercial real estate and equipment. In some circumstances this program can provide 90% financing.
Financing available on projects up to $10,000,000.
- Evolve Bank & Trust typically provides a first mortgage of up to 50% of the total loan-to-value. This loan can range from $500,000 to $5,000,000.
The SBA, through a Certified Development Company (CDC) provides up to 40% loan-to-value in a second lien position. This loan can range from $350,000 to $4,000,000. This portion of the loan is at a fixed rate.
Eligible Businesses and Property Types
Most for-profit business is eligible for financing. Commercial real-estate must be 51% or greater owner occupied.
Use of Proceeds
- Real-estate acquisition, construction, or refinance
- Equipment Acquisition
To get started, click the contact us button.