Borrego Springs Bank SBA 504 Loan Program

Real Estate Loan financing for acquisition or construction of owner occupied properties
Equipment Loan financing

SBA 504 Loan Features:

Size of Loans:
- $500,000 to $8 Million

Terms of Loans:
- Bank first trust deed - 25 Years, fully amortizing, competitive fixed and floating rates available
- SBA second trust deed – 20 Years, fully amortizing, fixed rates

Loan Advance Rates:
- General purpose real estate – up to 90%
- Special purpose real estate – up to 85%

Loan Costs:
- 1.5% of the first trust deed loan
- Additional fees for SBA/CDC second trust deed loan
- Loan packaging, appraisal, environmental, title/escrow, construction fees vary depending on size of project, etc.

Approved to offer SBA loan products under SBA's Preferred Lender program.

Loan Turnaround Times:
- 10 business days for Bank loan approval upon receipt of complete loan package
- 45 to 60 business days for initial funding from receipt of complete loan application package and approval by CDC

SBA 504 Loan Application Package

Click here for a listing of our Loan Production Offices

Sterling Savings Bank is a Washington state-chartered bank that operates under the following trade names: Sterling Bank, Sonoma Bank and Borrego Springs Bank. Sterling Savings Bank does not operate under the STERLING brand in the State of California, but instead operates as “Sonoma Bank” or “Borrego Springs Bank.” Sterling Savings Bank, Sterling Bank, Sonoma Bank and now Borrego Springs Bank are the same FDIC-insured institution. Deposits held under Sterling Savings Bank or any of its trade names are not separately insured by the FDIC, but are combined to determine whether a depositor has exceeded the federal deposit insurance limit.