SBA Loans – Loans from the Small Business Administration
FMB is a Top 10 SBA Lender!
In 2016 FMB originated 24 SBA Loans for a total of $4,583,600! Let our experienced SBA Lending Staff assist you in obtaining the funds you need to make your dreams a reality!
The Small Business Administration (SBA) provides three types of loans for your business. Whichever of the SBA loans you qualify for, there are different options for the maximum loan amount and how long you have to pay it back. Please see below for the three loans we offer.
|SBA Express||SBA 7(a)||SBA 504|
|Best Used For||Purchase of land or building, construct / renovate / expand buildings, purchase equipment or fixtures, leasehold improvements, inventory, working capital and refinance loans initially used for any of the above||Purchase of land or building, construct / renovate / expand buildings, purchase equipment or fixtures, leasehold improvements, inventory, working capital and refinance loans initially used for any of the above||Purchase long term fixed assets such as commercial real estate or a large piece of equipment|
|Loan Type||Term Note or Line of Credit||Term Note||Term Note|
|Maximum Loan Amount||$350,000||$5,000,000||SBA loan $5,500,000, no project maximum|
|Maximum Maturity||7 years for lines of credit, 5-10 years for working capital & equipment, 25 years for real estate||5-10 years for working capital and equipment, 25 years for real estate||10 or 20 year term on SBA loan|
|Interest Rate Options||Fixed or Variable||Fixed or Variable||Fixed on SBA loan|
|Collateral Requirements||No minimum collateral requirements, commercial real estate must be a minimum of 51% owner occupied||No minimum collateral requirements, commercial real estate must be a minimum of 51% owner occupied||90% of project value related to property purchased, commercial real estate must be a minimum of 51% owner occupied|
If you wish to apply for one of these loans from the U.S. Small Business Administration, please fill out the forms below:
Need assistance on preparing your business plan? Contact Score today!
“As a young, driven, business owner, Farmers and Merchants Bank was more than helpful when it came to the overwhelming task of opening a new business. They definitely were the foundation that allowed me to follow my dreams and turn them into a reality. Without an SBA loan, Blades Salon may not exist. Our Salon and wonderful team of girls wouldn’t be able to be where they are today with out the help of FMB. I am so blessed to have been open for 3 years and going strong, and I couldn’t have done it without the help of the wonderful ladies at FMB who got me through the beginning of my journey with ease.”
Owners, Blades Salon & Spa, LLC