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Your SBA Preferred Lender: Peoples Bank

Whether you are an established business looking to grow or a start-up looking for capital, a Small Business Administration (SBA) loan could provide just the support you need. In other words, SBA loans aren’t just for “small” businesses.

As an SBA Preferred Lender, Peoples Bank will streamline the loan approval process so you get your money faster. How? Your banker will determine your credit approval and eligibility up front, so your loan application goes to the SBA, in most cases, ready for approval.

What are the advantages of an SBA Loan?

  • SBA loans require less money down
  • You'll have longer payback terms
  • Lower interest rates
  • Lower monthly payments
  • Most loans have no prepayment penalty

 

How can an SBA loan be used?

  • You can purchase an existing business or franchise
  • SBA loans are well-suited for building and real estate
  • You may purchase fixed assets such as heavy machinery and specialized equipment
  • Your loan can also be used for working capital, and revolving lines of credit

 

How Do You Qualify for an SBA Loan?

Nearly 90% of all businesses are eligible for an SBA loan
 

Here are some basic requirements:

  • You must be an owner-operated business.
  • You must be a for-profit business.
  • You have to be organized as a sole-proprietorship, corporation or professional partnership.

Business types include the following:

  • Manufacturers
  • Retailers
  • Seasonal Businesses
  • General & Trade Construction Companies
  • Agricultural Companies
  • Professional Services such as Doctors, Dentists and Veterinarians

 

How Do You Get Started?

There are five basic steps in getting your SBA loan, and your Peoples Bank Business Banker will guide you through every step of the way:

  1. Initial consultation
  2. Submit the loan application
  3. Bank approval
  4. Submit the loan to the SBA for approval
  5. Loan Closing

Get Started

Are you ready to talk to a banker and apply for a loan?

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Peoples Bank Small Business Solutions

If your total borrowing needs are less than $100,000, a Small Business Loan may be a perfect fit.

Small Business Loans