SBA 7(a) Loans
If you are planning to establish a new business or need assistance in acquisition, operation or expansion of an existing business. Loans must be over $200,000.
SBA CDC/504 Loans
If you are in need of long term, fixed rate financing to acquire major fixed assets for expansion or modernization of your business.
What should I bring to the bank?
- 3 years of tax returns on borrowers, guarantors and other interests.
- If you are a start-up company, bring your business plan.
- Personal and business identification numbers
- Corporate documents including corporate by-laws
Who will I meet with about my loan?
Any commercial loan officer.
Fill out an application and personal financial statement. Then applications and documents are sent to SBA. Expect a 2 to 3 week loan approval process.
After the SBA 7(a) or SBA CDC/504 Loans Are Approved
Calumet orders appraisals and other documents needed for closing and schedules closing date