Use
SBA 7(a) Loan General Purpose
SBA 504 Loan Real Estate & Equipment
USDA Loan Real Estate, Equipment, Working Capital and Construction
Conventional General Purpose
Loan Size
SBA 7(a) Loan $350,000 to $5,000,000
SBA 504 Loan $1,000,000 to over $7,500,000
USDA Loan $750,000 to $10,000,000
Conventional Unlimited
Interest Rate
SBA 7(a) Loan
  • Variable or fixed rate
  • Fully amortized through the term of the loan
  • Interest rates are based on the current market conditions with various indexes up to prime and individual loan review
SBA 504 Loan
  • Variable or fixed rate
  • Fully amortized through the term of the loan
  • Interest rates on 504 loans are set at an increment above the current market rate for five-year and ten-year U.S. Treasury issues
USDA Loan
  • Variable or fixed rate
  • Fully amortized through the term of the loan
  • Interest rates are based on the current market conditions with various indexes up to prime and individual loan review
Conventional
  • Variable or fixed rate
Terms Available & Amortization Periods
SBA 7(a) Loan
  • 25 years: real estate
  • 10 years: equipment, business acquisition
  • 5 to 7 years: working capital
  • All loans are fully amortized
  • No balloon payments
SBA 504 Loan
  • 20 years fully amortized real estate loan
  • 10 years fully amortized equipment loan
  • No balloon payments
USDA Loan
  • 30 years: real estate
  • 15 years: equipment or useful life
  • 7 years: working capital
  • All loans are fully amortized
  • No balloon payments
Conventional
  • Typically 20 year amortization for real estate with 5 year balloon
  • 10 year balloon
  • 5 Years: equipment
  • Typically 1 year line of credit working capital
Loan Structure
SBA 7(a) Loan
  • Up to 90% bank loan
  • 10% minimum borrower down payment
SBA 504 Loan
  • 50% bank loan
  • Up to 40% CDC loan
  • 10%-20% borrower down payment
USDA Loan
  • Up to 100% bank loan
  • 10% BSE for Existing Business
  •  

    20% BSE for Start-up Business w/o Construction

    25% BSE for Start-up Business with Construction
Conventional
  • Up to 80% bank loan
  • 20% borrower down Payment
  • Plus closing costs
Loan Fees
SBA 7(a) Loan
  • Up to $2,500 Packaging Fee
  • Fees rolled into loan
SBA 504 Loan
  • Up To 2.0%
  • Fees rolled into loan
USDA Loan Packaging Fee Depends on Loan Size
Fees rolled into loan
Conventional
  • Up to 1% origination fee
  • Fees paid at closing

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