Small Business Administration (SBA) Loan Programs

 
 

 

A simple and hassle-free SBA loan experience

Are you ready to start or expand your business? Small Business Administration loans typically offer lower equity requirements and longer terms than conventional loans.

Our SBA Business Development Officers have broad and diverse industry experience building relationships with small businesses. As a Preferred SBA Lender, we're able to guide you through the process with faster decision times and loan approvals.

Find the right loan for your business

                      

Terms

SBA 7(a)

SBA 504

Conventional

Down payment 10%1 10%1 25%
Use of proceeds
  • Real estate purchase, refinance
  • Expansion
  • Acquisition
  • Partner buy-out
  • Equipment purchase
  • Franchise financing
  • Real estate purchase
  • Construction
  • Equipment purchase
  • Refinancing
Varies by lender
Loan amount Up to $5,000,000
  • 1st mortgage - no maximum loan amount
  • 2nd mortgage - maximum of $5MM-$5.5MM depending on industry
Varies by lender
Structure
  • 90% lender
  • 10% borrower
  • 90% lender(50% TD Bank,
    40% SBA)
  • 10% borrower
  • 75% lender
  • 25% borrower
Term Up to 25 years Up to 20 years 5 - 10 years (typically)
Balloon No No (typically)2 Yes
Amortization Up to 25 years Up to 25 years 20 years (typically)
Fees
  • Based on project size
  • Can be financed
  • Based on project size
  • Can be financed
Varies by lender
Covenants No Yes
(typically less than conventional)
Yes
Why this loan? SBA 7(a) loan:
  • No balloon payments
  • Lower equity requirements
  • Longer-term financing
  • Improved cash flow
SBA 504 loan:
  • Typically no balloon payments
  • Lower down payment
  • Longer-term financing
  • Project assets can be used as collateral
 
 
Schedule an appointmentView details
Schedule an appointmentView details
 

SBAExpress Loan

Receive a quick response to your SBA loan application, usually within 48 hours. Loan proceeds can be used for equipment purchases, expansion, owner-occupied real estate purchases, working capital and more.

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Loan amounts up to $350,000

Terms up to 25 years, fully amortizing

Advance rate:

  • Up to 100% on machinery and equipment
  • Up to 85% on business acquisitions

Why an SBAExpress loan?
  • Fixed and variable interest rates available
  • Longer terms to maximize cash flow
  • Accelerated turnaround times for a faster closing
  • Flexible use of proceeds to help maximize business performance
  • Expert relationship managers walk you through the SBAExpress loan application process step-by-step to ensure your experience is hassle-free

USDA Loan

USDA loan proceeds develop and finance businesses in rural communities.

They are designed to improve the economic and environmental climate through: Real estate purchases, refinance and construction; business expansion and acquisition; equipment purchase; partner buyout; and franchise financing in rural communities.2

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Loan amounts up to $10,000,000

Terms up to 30 years, fully amortizing

Advance rate:

  • Collateral must have documented value sufficient to protect the interest of the lender and agency

Why a USDA loan?
  • Fixed and variable interest rates available
  • Longer terms to maximize cash flow
  • Designed to help rural communities grow and add jobs
  • Encourages the development and construction of renewable energy projects such as solar and wind power
  • Expert relationship managers walk you through the USDA loan application process to ensure your experience is hassle-free

Frequently Asked Questions


What is an SBA loan?

An SBA loan is backed by the Small Business Administration - a government entity dedicated to the growth of small businesses.

TD Bank processes your application and lends you money. The Small Business Administration guarantees part of the loan, but the SBA doesn't actually lend any funds. It's this guarantee that allows SBA loans to offer flexible solutions - and why it's such a good choice for small businesses.

Why an SBA loan?

SBA loans typically offer flexible terms and conditions versus conventional counterparts. Which means lower monthly payments and more opportunities to keep capital in your business.

Who should apply for an SBA loan?

Any small business owner can apply and take advantage of SBA loan terms. If you have excellent credit, cash flow and equity in your business, all the better. If you may not qualify for a traditional commercial loan, an SBA loan may be your best bet for financing.

The U.S. SBA also offers education and support to small businesses, which is an excellent resource as you grow.

 
Do SBA loans take a long time to fund?

As a U.S. SBA preferred lender, TD Bank has a lending group especially dedicated to SBA customers. Our experienced Business Development Officers, Credit Underwriting and Closing Groups help keep the approval and closing process running smoothly as well as provide funds quickly and efficiently.

How can I learn more about SBA loans?

TD Bank is a preferred lender for SBA loans, which means faster decision time and quicker access to loan funds.* Meet with one of our Business Development Officers and they will walk you through the process step-by-step.

Or you can find more information on the SBA website.*

Business Tools, Calculators and Resources


Monthly Loan Payment Calculator


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Months

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