Borrego Springs Bank SBA 7(a) Loan Programs
- Real Estate financing for acquisition, refinance, construction, improvements for owner occupied properties
- Business Acquisition financing
- Business Start-Up financing
- Equipment, Inventory and Working Capital financing
SBA 7(a) Loan Features:
- Size of Loans:
- $100,000 to $2 Million
- Terms of Loans:
- Real Estate - up to 25 years, fully amortizing
- Business Acquisition – up to 10 years, fully amortizing
- Debt Refinance – 7 to 25 years fully amortizing depending on the use of loan proceeds
- Equipment, Inventory and Working Capital – 7 to 10 years fully amortizing
- Loan Advance Rates:
- Real Estate – up to 90%
- Business acquisition – up to 85%
- Debt Refinance – up to 100%
- Equipment, Inventory and Working Capital – up to 100%
- Loan Costs:
- SBA guaranty fees range from 2% to 3.75% depending on size of loan
- Additional fees for loan packaging, appraisal, environmental, title/escrow, construction, etc.
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| 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 application package
- 30 to 60 business days for initial funding from receipt of complete loan application package
SBA 7a Loan Application Package
Click here for a listing of our Loan Production Offices
