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:
• Business Acquisition
• Working Capital
Contact Tom Meyer at 847-267-8301 or email Tom to get pre-qualified now.
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 both the SBA 7A and SBA 504 loan programs. 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.
Contact Tom Meyer at 847-899-3793 or email Tom to click below to send him a message.
Are you currently looking to expand your 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.
Contact Tom Meyer at 847-899-3793 or click below to send him a message:
SBA Commercial Real Estate
Are you currently leasing or renting an existing business location? Is that location not meeting the needs of your growing business? Do you need financing to either purchase, refinance or construct a new location? Both the SBA 7a and SBA 504 loans provide long term financing from between 20-25 years with balloon payments that traditional commercial loans have.
See the benefits of SBA financing as compared to traditional commercial financing:
|SBA 7a Loan||SBA 504 Loan||Conventional Loan|
|Loan term-25 years||Loan term-20 years||Loan term – 3/5 years|
|Loan Amortization-25 years||Loan Amortization-20 years||Loan Amortization – 15/20 years|
|10% equity requirement||10-20% equity requirement||25-30% equity requirement|
|90% financing||80-90% financing||70-75% financing|
Want to know if you qualify to buy a new commercial real estate by using an SBA loan? Contact contact Tom Meyer at: 847-899-3793 or click below to send him a message.
SBA Hospitality Lending
From the seasonality of your business to the diversification of revenue streams that impact your bottom line, our highly skilled bankers understand how hotels operate with an overlay of hotel lending along with the financing required for hotel development and expansion. Because every hotel property and project is different, we tailor our specialized product portfolio to meet your individual needs, helping you to optimize your working capital and liquidity to leverage your available and prospective resources.
As a leader in hotel lending, Centrust Bank specializes in meeting the growth and expansion needs of the hospitality industry from the ground up through our SBA programs. We bring experienced, targeted hospitality industry banking and financing resources, serving hotel developers and owners through hotel construction loans, hotel property purchases and hotel development financing. We deliver a full range of solutions, so you can focus on creating and operating your growing portfolio of successful properties.
Centrust Bank is a leading SBA lender for owners and operators of hotels in the Midwest. Our in-depth knowledge – drawn from our work with a wide range of hospitality projects – supports a robust set of lending options for hotel owners and operators. We offer smart solutions for acquisitions, ground-up construction, expansions, renovations, refinancing and more.
Want to know if you qualify for an SBA hospitality loan?