Commercial & Small Business Loans
- Short or long term loans
- Lines of credit
- All-in-one banking (checking, savings, loans, etc.)
- Builds relationship with bank and credit history
- Competitive interest rates
- Accounts may be debited for payments
- Secured or unsecured
- Within approved guidelines repayment schedules can be adaptable to customers
- Fixed and variable interest rates
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We understand the challenges - and rewards - that come with owning your own business. Whether your goals include starting a new business, expanding your business or simply accessing additional working capital for a major purchase, United Bank offers a variety of lending solutions to help you meet your goals - and our commitment to business lending has never been stronger.
When your business needs financing, consider an SBA loan.* SBA loans offer distinct advantages designed to assist small businesses in accessing the capital they need to grow. As an SBA lender, United Bank's SBA Specialists can help you find the SBA financing option that is right for your business.
Why United Bank?
Since 1904, United Bank has been serving the communities of Southwest Alabama and Northwest Florida. At United Bank we offer:
- Personal service
- Local decision making
- Bankers who know you and your community
- All in one banking (checking, savings, loans, etc.)
Backed by the SBA, these loans are structured just for small businesses, with features that usually have lower monthly payments.
Benefits of SBA loans versus conventional financing options include:
- Up to 25 year terms, with no balloon payments
- Fixed or variable interest rates up to 25 years
- As little at 10% down payment on commercial real estate
- No loan covenants
- Less stringent collateral requirements
- A United Bank SBA specialist can help you complete your SBA loan application
Several SBA loan options are available to meet different business needs:SBA 7(A) LOANS
- Loan limit up to $5,000,000
- Eligible activities for 7(a) financing include starting or acquiring a business, expanding a business or refinancing existing debt
- Loan proceeds may be used for working capital, equipment, commercial real estate or exporting
- Provides a revolving line of credit up to $5,000,000
- Borrowers must use the loan proceeds for short term working capital/operating needs
SBA EXPRESS LOANS/SMALL LOAN ADVANTAGE
- Loan limit up to $350,000
- Similar to 7(a) loan, but simpler application process and faster approval
SBA 504 LOANS
- Loan limits between $125,000 to over $10,000,000+
- Designed to help small businesses acquire fixed assets, such as commercial real estate or equipment
- Provides affordable, long-term financing through certified development companies (CDC's) in cooperation with United Bank
- Borrower pays as little at 10% down on the purchase of real estate and equipment
- Includes job creation requirement*
Need help with exporting or international trade?
Unique SBA loans are available to businesses who want to begin or expand exporting into international markets. These loans can also help you be more competitive if you are adversely affected by import competition. A United Bank SBA specialist will review all of the details with you.
Who qualifies for SBA?
The SBA has specific criteria for businesses to qualify for SBA loans:
- The business must operate for-profit, meet the SBA size standards and be an eligible business type
- The business must operate in the United States or its possessions
- The business must show that the loan can be repaid from existing cashflow
- Borrowers must show good character and demonstrate sound credit management
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*All loans are subject to credit review and approval. Unlike 7(a) loans, 504 loans include job creation requirements: Manufacturers, for example, must create or retain one new job for each $100,000 of the loan, while all other industries must create or retain one new job for each $65,000 of the CDC 504 loan.
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