Small Business Administration Lending
When it’s time to move your business forward, a U.S. Small Business Administration (SBA) loan from Wells Fargo may be the solution if you’re seeking a financing option with:
- Long repayment terms. This means lower monthly payments.
- Lower down payments. Makes upfront costs more affordable.
The difference between SBA loans
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SBA 7(a)
- Designed for businesses looking to acquire an existing business, buy-out a partner, expand to another location, purchase real estate or equipment, or those looking to combine any of these needs into one loan.
- Appropriate for longer term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Loan amount is up to $5,000,000.
- Terms are up to 25 years for commercial real estate and up to 10 years for all other purposes.
- Interest rates can be either fixed or variable.
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SBA 504
- Designed for businesses looking to expand through land or building acquisition, construction, or equipment purchase.
- Appropriate for longer term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Loan amount is up to $10,000,000 for the Wells Fargo portion and up to $5,000,000 for the portion funded by a Certified Development Company.
- Terms are up to 25 years for commercial real estate and up to 10 years for machinery or equipment.
- Interest rates are fixed or variable.
Learn how others have started or grown their business with an SBA loan from Wells Fargo.
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