You need to ask the financial institution you want to work with if they are a SBA lender.  Many banks are Preferred Lenders (PLP status) because of their track record in making SBA loans and therefore can put the package together for the SBA loan. Other banks are Certified SBA lenders (CLP) and can also put paperwork together.


SBA 504 Loan
The SBA 504 program is for fixed asset loans (real estate, bus. equipment). The 504 loan offers fixed 10 or 20 year loans--current rate (May, 2012) about 4.75% fixed for term. If you do a 504 SBA financing you need to ask the local SBA Office for a list of Certified Development Companies (CDC's) in your area that put together the 504 deals (for real estate/business equipment). The 504 program is a great program for long term fixed rate financing for these projects (R.E. & Equip.). It can keep your payments low and help the business cash flow.


SBA 7a Loan
The SBA 7a loan program can be used (rates usually not fixed, but tied into prime to adjust when prime changes).  The benefit for the business on using SBA is that the Bank gets an SBA guaranty and the business does not have to find other financing if the bank does not like your financials down the road (that is as long as you are current on payments). 


Contact your local SBA Office - you can find one here:



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