SBA Loans

SBA Loans

SBA Loans are a great way to expand your financing options. Whether you run a start-up or are growing a small business, State Bank of Georgia is your SBA lender of choice for:

  • Commercial Real Estate
  • Equipment and Machinery
  • Inventory
  • Working Capital

State Bank of Georgia offers customized solutions to provide you with flexible, affordable SBA Loans with reasonable repayment terms.

Congress created the Small Business Administration (SBA) over half a century ago to help small companies get started, expand, and prosper. Today, the SBA provides assistance to these companies by guaranteeing a portion of loan amounts and allowing longer terms for qualified borrowers.

What are the advantages of an SBA loan?

There are many, including terms up to 25 years for land and buildings and up to 10 years for all other business purposes. SBA loans are assumable and carry no pre-payment penalties or call provisions. (For terms of fifteen years or more, pre-payment penalties apply during the first three years.)

What are the credit requirements for an SBA loan?

A loan applicant must show an ability to repay the loan in a timely manner, through past earnings records or future earnings projections. An applicant must demonstrate management ability and commitment necessary for a successful operation. The applicant must also have sufficient equity capital so that, with the SBA loan, the business can operate on a sound financial basis. Lastly, the applicant must provide adequate collateral.

Who is eligible for an SBA Loan?

The SBA defines a small business as one that is independently owned and operated, which is not dominant in its field and which meets certain criteria based on industry classifications. In laymen's terms, we work with most types of businesses in conjunction with this program. However, loans used to finance real property held solely for income or investment are not eligible.

How do I apply for a Small Business Administration (SBA) loan?

One call to our loan department will get you started. We will assist you in determining the necessary information needed to submit your application.

SBA 7(a) Loan Program

7(a) loans are the most basic, commonly used, and flexible type of SBA loan. Your loan may be used to start a new business or to help with existing business operations, expansions or acquisitions:

  • Debt refinancing
  • Working capital
  • Machinery and equipment
  • Furniture and fixtures
  • Leasehold improvements
  • Construction financing
  • Land and building purchase
  • Inventory

SBA 504 Loan Program

This loan program was specifically designed to help stimulate economic development within communities by helping businesses grow and create jobs. Through this program we are able to provide small businesses another option to secure financing for major expansion or modernization. 504 Funds may be used to:

  • Purchase existing buildings
  • Purchase land or make land improvements
  • Build or renovate facilities
  • Purchase equipment