Small business doesn’t mean thinking small.
Evolve specializes in providing long-term, permanent financing to small businesses through the Small Business Administration (SBA) guaranteed loan programs. We are proud to have been designated a preferred lender (PLP) by the SBA, meaning the approval process has been trusted to Evolve. As a result, we are able to provide you with faster and more efficient processing of your SBA loan applications.
Find out how Evolve can work for your small business today.
Commercial/Industrial Real-Estate Financing
- Purchase – Build – Refinance – Renovate – Owner-occupied
- Commercial Real Estate (multi use and single use properties)
- Gas Stations (franchise only)
- Franchise Restaurants
- Auto Repair / Maintenance facilities
- Limited Service Hotels (franchise only)
- Assisted Living Facilities
- Medical / Dental / Veterinary offices
Existing Business Acquisition Loans
- Your company’s cash flow and management capabilities are our primary qualification criteria
- Up to 80% Financing
- Loans Fully Amortized– No Balloons
- No Prepayment Penalty
- 48 Hour Pre-Qualification
Equipment Financing
- Commercial Printing and Binding
- Machine Tools
- Manufacturing
- Heavy Equipment
- Medical & Diagnostic
Loans up to $5 Million for SBA 7(a) and up to $10 Million for SBA 504
- No Cost Pre-Qualification Letters
- Competitive Rates and Flexible Terms
- No prepayment penalties on terms less than 15 years for 7(a) programs
- Up to 90% Financing
- Up to 25-year Terms for Real Estate
- Full Amortization
- Fixed and variable rate options available for both 7a and 504 program
Running a small business is quite time consuming. Evolve provides 21st century technology partnered with amazing service. It’s such a relief to have a bank that delivers your needs. Thank you, Evolve, for making my banking effortless.
Adina Wiseman, Owner, LiveFit
7(a) Loan Program
We specialize in providing long term permanent financing to small businesses. Our, loans, including 7(a) Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.
Eligible Businesses and Property Types
Almost any type of for-profit business is eligible. Commercial real-estate must be partially occupied by borrower and includes, but is not limited to, the following types of properties:
- Office Buildings
- Warehouses
- Industrial Buildings
- Manufacturing
- Child Care Facilities
- Car Wash Facilities
- Automotive Repair Shops
- Professional Buildings
- Hotels
- Gas Stations
- Franchises
- Start-ups
Use of Proceeds
- Real-estate acquisition, construction, or refinance – up to 90% financing available
- Business Acquisition – up to 80% financing available
- Equipment Acquisition – up to 90% financing available
- Debt Refinance -up to 100% financing available
Terms
- Up to 25 years for real-estate financing
- Up to 10 years for equipment or business acquisition financing
- Up to 7 years for permanent working capital
- All loans are fully amortized.
Interest Rates and Fees
Interest rates are always market competitive. Fees are generally limited to the SBA guaranty fee and customary closing costs.
Loan Structures
Loan amounts range from $350,000 to $5,000,000
504 Loan Program
The 504 Loan Program provides small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.
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 – up to 90% financing available
- Equipment Acquisition – up to 80% financing available
Terms
- First Mortgage – up to 25-year term for real-estate loan and up to 15-year term for equipment purchase
- Second Mortgage – up to 20-year term for real-estate and up to 15-year term for equipment purchase. Fixed rate is determined at SBA guaranteed 504 debenture sale.
Interest Rates and Fees
Interest rates are always market competitive. Fixed and variable interest rates available. Fixed rates are determined at the SBA guaranteed 504 debenture sale.
For Second Mortgages there are fees of 2.75% + a legal review fee. This is financed in the loan.
Fees also include customary closing costs, construction loan fees (if applicable), and bridge fees.
Loan Structures
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 $350,000 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.
USDA Business & Industry
Complementing our SBA loan offerings, Evolve Bank & Trust also offers Business & Industry (B&I) Guaranteed Loans. This program is designed specifically to provide for the borrowing needs of businesses located in rural areas. Our goal is to encourage and provide commercial financing for rural businesses.
The B&I Loan Program is made available through the United States Department of Agriculture (USDA) guaranteed loan program.
Eligible Businesses and Property Types
Assistance under the USDA B&I Guaranteed Loan Program is available to most legally organized entities — including cooperatives, corporations, partnerships, trusts and other profit or nonprofit organizations, Indian tribes, federally recognized tribal groups, municipalities, counties or state political parties.
Use of Proceeds
- Working capital
- Machinery and equipment
- Buildings and Real Estate
- Investment property
- Other types of debt refinancing
Terms
- Up to 30 years for real-estate financing
- Up to 15 years for equipment or business acquisition financing
- Up to 7 years for permanent working capital
- All loans are fully amortized.
Interest Rates and Fees
Rates can be fixed or variable.
Loan Structures
Loan amounts range from $350,000 to $5,000,000
Application Documents
Download SBA Loan Application Checklists below:
- Application Checklist & Forms
- Application Checklist
- Loan Request / General Information
- Schedule of Collateral
- History and Nature of Business
- Business Acquisition Questionnaire
- Notes Payable Schedule
- Accounts Receivable / Accounts Payable Aging Summary
- Personal Financial Statement
- Personal Income / Expense Analysis
- Management / Ownership Information
- Borrower Information Form (SBA Form 1919)
- Authorization to Release Information
- Suggested Business Plan Outline
- Source of Capital Injection Form
