It's a loan guaranteed in part by the U.S. government that is structured with longer maturity periods and more liberal collateral requirements than conventional loans. SBA loans give small business owners greater access to capital for operations, acquisitions, inventory or debt management. SBA loans offer a variety of advantages over mainstream commercial borrowing:
Once you provide Alliance Bank's U.S. SBA Department with financial statements and a personal credit report, we can often give you a letter of intent within hours. And with our experienced SBA bankers walking you through each step of the application process, your SBA loan can be approved in 30 days or less after we receive the complete information package. If an appraisal is required, 45 days is a usual timeframe. Alliance Bank is a business bank. SBA loans are only one part of our commitment to helping businesses thrive. Talk to an SBA relationship banker and see what better means.
The SBA defines a small business as "independently owned and operated and not dominant within its industry." That means almost any small for-profit company is eligible. There is also the basic requirement that you be in good standing with any other federal programs you may have accessed.
Alliance Bank specializes in real estate transactions targeting acquisitions and refinancing. We have two different loan programs, the SBA 7a and the Commercial Real Estate 504 program. With a combination of the two programs, Alliance Bank can finance up to $4 million projects.