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In order for your business to grow, you need some support along the way. Sometimes, that support requires finances. At NEBAT, our business lenders are proud to partner alongside your business to consistently provide recommendations when you need them. From financial advice to connecting you to other businesses, and more.
When it comes to business loans from the SBA, there are typically three common loans: 504 loans, 7(a) loans and Microloans. However, at NEBAT we understand that not every loan fits in a box; that’s why we offer– specialty loans, designed to meet your unique business needs!
Below is a quick view of the SBA loans mentioned above alongside our Specialty Loan option. We always recommend discussing custom options so we can find what fits best for your business.
| 504 Loans | 7(a) Loans | Microloans | Don’t fit in a box? Ask about our Specialty Loans. | |
|---|---|---|---|---|
| Common uses: |
Fixed assets to promote business growth & job creation. Long-term machinery and equipment. This includes installation and freight. Land, streets, utilities, parking lots and landscaping existing facilities. |
Short and long-term working capital, refinancing debt. Purchasing equipment, furniture, fixtures, and supplies. |
Help small businesses start up and expand. Including but not limited to: Equipment, working capital, supplies, furniture, fixtures, equipment. |
Dream big! Specialty loans are designed around your businesses. |
| Common uses for real estate needs: |
Existing building or land, new facilities. Owner-occupied real estate. |
Real estate, new building, or renovation. | Rebuild, re-open, repair, enhance, or improve your business. | Ask your lender! |
| Cannot be used for: |
Working capital. Speculation or investment in rental real estate. “Goodwill” and intangible assets. Inventory |
N/A | Pay existing debts or purchase real estate. | Designed for what works best for you. |
| Maximum loan amount: | $5.5 million | $5 million | $50,000 | Wide variety available. |
| Loan Repayment Terms: |
ACH monthly draw, wire or check. 10-, 20-, and 25-year maturity terms are available. |
Monthly | Varies |
We’ll work together based on your business needs. |
| Interest Rate: | Long-term, below-market, fixed rates - fixed for 10, 20 or 25 years. | Low interest rates and long repayment options. | Varies | Varies |
| 504 Loans | 7(a) Loans | Microloans | Don’t fit in a box? Ask about our Specialty Loans. | |
|---|---|---|---|---|
| Common uses: |
Fixed assets to promote business growth & job creation. Long-term machinery and equipment. This includes installation and freight. Land, streets, utilities, parking lots and landscaping existing facilities. |
Short and long-term working capital, refinancing debt. Purchasing equipment, furniture, fixtures, and supplies. |
Help small businesses start up and expand. Including but not limited to: Equipment, working capital, supplies, furniture, fixtures, equipment. |
Dream big! Specialty loans are designed around your businesses. |
| Common uses for real estate needs: |
Existing building or land, new facilities. Owner-occupied real estate. |
Real estate, new building, or renovation. | Rebuild, re-open, repair, enhance, or improve your business. | Ask your lender! |
| Cannot be used for: |
Working capital. Speculation or investment in rental real estate. “Goodwill” and intangible assets. Inventory |
N/A | Pay existing debts or purchase real estate. | Designed for what works best for you. |
| Maximum loan amount: | $5.5 million | $5 million | $50,000 | Wide variety available. |
| Loan Repayment Terms: |
ACH monthly draw, wire or check. 10-, 20-, and 25-year maturity terms are available. |
Monthly | Varies |
We’ll work together based on your business needs. |
| Interest Rate: | Long-term, below-market, fixed rates - fixed for 10, 20 or 25 years. | Low interest rates and long repayment options. | Varies | Varies |
NEBAT Specialty Loans
Your business is unique. Your employees, your product or services, the way you operate, everything! Your needs may not fit into the 504 loan, 7(a) loan, or microloan requirements. While these are great options for many businesses, NEBAT recognizes the need for additional loan varieties. Our lenders are empowered to work with you to discuss business loan comparisons and recognize if you’re needing something a bit more custom.
We will take time to learn about your business, its goals, and where you’re headed before putting together our recommendation. This is not a one time transaction, this is a partnership, and we can’t wait to work alongside you.
