|
7(a) PROGRAM (50% TO 85% OF LOAN GUARANTEED BY SBA) |
504 PROGRAM |
SBA EXPRESSCREDIT LINES AND TERM LOANS |
TERM LOANS |
TERM LOANS |
| Amount: |
Up to $150,000 |
SBA guaranteed loans up to $1 million. Additional financing may be extended by non-guaranteed loans. |
Up to $5 million* |
| Term: |
Up to 7 years with any combination of revolving line of credit and term loan |
Up to 10 years (equipment) |
Up to 25 years (real estate) |
Equipment: 10 yearsReal
Estate: 20 years |
| Collateral & Loan-To-Value Ratio: |
Per 7(a) Program |
Equipment: Up to 50% or 75% of value depending on the type of equipment |
Real Estate: Up to 75% of value |
Real Estate: Up to 90% of project cost
Equipment: Up to 90% of cost or value |
| Repayment Term: |
Credit Lines: Interest monthly
Term Loans: Per 7(a) Program |
Monthly payments adjusted quarterly or annually; fully amortized with no balloon |
Monthly payments adjusted every 1 to 5 years |
| Rate: |
Per 7(a) Program |
Variable based on term and loan amount |
Zions: Variable or fixed
SBA: Fixed |
| Fee: |
Up to 1 year: 0.25%
Over 1 year: 2 - 3.5% |
Approximately 2 - 3.5% of the guaranteed portion of the loan |
Zions: 1%
SBA: 2 7/8% + base fee |
| Prepayment Penalty: |
No penalty |
15 year term or longer: Penalty |
Zions: Penalty
SBA: Penalty |
| Other Client Charges: |
Out-of-pocket expenses, including title insurance, escrow fee, appraisal fee, loan fee, recording fee, monitoring costs (accounts receivables loans), etc. |
