SBA (Small Business Administration) Loans
An SBA loan can be used for any specific business lending purpose. Whether you are purchasing, constructing or refinancing your business’s commercial real estate or looking to grow by purchasing new equipment, we can structure the right loan for you.
SBA loans can be used for the following needs:
Centrust Bank is focused on the small business financing needs of our customers. We have a team of SBA Lending Specialists who understand the complexity of structuring an SBA loan. There are many times where traditional commercial financing does not fit with your business needs. The primary benefits of SBA Loans include: longer terms, longer amortizations, fully amortizing with no balloons, favorable interest rates, less equity down requirement and other situations where there may not be enough collateral to secure a traditional loan.
As a community bank, Centrust Bank provides the SBA 7A loan program. We are one of the top SBA lending banks in the State of Illinois. Our SBA Lenders will have years of specialized SBA lending experience. It is their job to make SBA loans fast & easy.
Business Acquisition, Partner Buy-out, Acquiring a Competitor
Are you currently looking to expand your business by acquiring a competitor? Do you own a business with other partners and you want to retire? Are you an executive looking to exit corporate America and purchase your own existing business? Given the current environment, business acquisition financing is in high demand, but most banks won’t provide the financing. We specialize in providing business acquisition loans with terms up to 10 years and with equity down of between 15-25%. Want to know if you qualify to buy a business using an SBA loan?
Machinery and Equipment
Are you currently leasing or renting equipment? Do you need financing to purchase equipment to keep your business growing? The SBA 7a loan provides long term financing from between 10-15 years with balloon payments that traditional commercial loans have. Financing the equipment over a longer term will allow you to make smaller loan payments and use the additional profits to invest in your business. In most cases new equipment can be financed with 10% down. In some cases 100% financing may be available for existing businesses.
Are you currently looking to expand your business into another country? Do you need to provide products or services to additional countries? Are you manufacturing a new product and it needs to be sold overseas?
Business Expansion and Working Capital
Did you just secure a new contract and need the working capital to fill the order? Do you need the working capital to grow to a second location? Businesses today can’t grow without the cash needed to invest. The SBA 7a loan offers long term financing for permanent working capital needs with terms up to 10 years.
Are you currently looking to expand your business by starting a new division or new company? Are you an executive looking to exit corporate America and start your own franchise business? Start-up SBA financing utilizing the SBA 7a loan can help you with all the funded needed to begin. Whether you need money for equipment, real estate, leasehold improvements or working capital, we can structure the right SBA 7a loan for you. Loan terms up to 10 years and 25-30% equity injections is typically what is needed to invest in your new business.