Small Business Administration (SBA) Loans
Reap the benefits of an SBA loan and turn your big idea into reality! SBA loans provide businesses with access to capital that might not otherwise be available and have more flexible underwriting than conventional business loans. They offer lower down payment requirements, longer repayment terms, lower cash flow requirements to cover payments and the ability to conserve cash for operating expenses. The right resources can change everything, and we're here to help.
SBA Preferred Lender Status
As a preferred SBA Lender, our team utilizes its delegated authority to provide loan approvals in-house - meaning we save our clients valuable time on their financing. We provide credit to businesses that might not otherwise qualify for conventional lending and can provide longer terms for repayment.
Security National Bank is approved to offer SBA loan products under the SBA's Preferred Lender program.SBA 7(a)Loans1
The SBA uses the 7(a) loan program as its primary method of funding small businesses. An SBA 7(A) Loan is the most common SBA loan product, offering flexibility on terms and used for a variety of business needs. The interest rates for the SBA 7(a) Loans can be variable or a fixed rate. The Loan terms can be 10 to 25 years, depending on the loan purpose.
7(a) Loan Purposes
Expanding or acquiring a business
Purchasing or constructing real estate
Refinancing existing business debt
Buying equipment
Providing working capital
Financing building improvement
Purchasing inventory
Refinancing owner-occupied real estate
Start-up financing
7(a) Advantages
Up to 100% bank financing
Fully amortized/no balloons
No pre-payment penalties for loan terms under 15 years
7(a) Loan Eligibility
To qualify for an SBA 7(a) loan, a business must operate as a for-profit, do business in the United States or its territories, and be considered a small business, as defined by the SBA. Before seeking financial assistance, they must have reasonable invested equity and use alternative financial resources (including personal assets). They must demonstrate a need for a loan, use the funds for a sound business purpose, and not be delinquent on any existing debt obligations to the U.S. government.
SBA 504 Loans1
The SBA 504 Loan is used for Real Estate and Equipment. While the eligibility requirements for a 504 loan are nearly the same as the 7(a) loan, the approved uses of the loan are different. The interest rates for an SBA 504 Loan can be a variable or a fixed rate. The terms are up to 15 years for machinery or equipment, and up to 25 years for real estate.
504 Loan Purposes
Purchasing land or an existing building
Expanding or improving an existing building
Purchasing long-lived machinery or equipment
Refinancing owner-occupied real estate
Providing working capital
Financing building improvement
Purchasing inventory
Start-up financing
504 Advantages
Low down payment conserves your cash
Fixed or floating interest rates available
Loan amounts up to $15,000,000
504 Loan Eligibility
To qualify for an SBA 504 loan, a business must operate as a for-profit, do business in the United States or its territories, have a tangible net worth of less than $20 million, and have an average net income of less than $6.5 million after federal income taxes for the two years preceding your application.
Other general eligibility standards include falling within SBA size guidelines, having qualified management expertise, a feasible business plan, good character and the ability to repay the loan. Loans cannot be made to businesses engaged in nonprofit, passive, or speculative activities.
Meet Your SBA Team
Our full-service SBA lending team is headquartered in Dallas, TX, serving as the epicenter of our SBA programming. Boasting over 180 years of combined experience, our dynamic team delivers expertise and personalized service to all market locations.
We take pride in our deep-rooted commitment to assisting small businesses—and, in turn, strengthening our local communities.
Hear from our SBA Director, Jason Parsons, as he speaks to our commitment in providing reliable support, personalized service and creative solutions.
Treasury Management
Enhance efficiency, control and security when managing your business finances with our treasury management banking solutions.