SBA Guaranteed Loans

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At Flushing Bank, we understand how your business works and what it takes to succeed. That's why we provide SBA loans for your business along with a wide range of financial tools to help you reach your business goals. For many years, we have been providing small business loans and other financing solutions to get businesses off to a solid start and grow. With a Flushing Bank SBA Loan, you can:

  • Obtain loan amounts and terms not normally available on a non-SBA guaranteed basis
  • Purchase or refinance owner-occupied real estate
  • Expand your business
  • Acquire a business or franchise
  • Purchase inventory, machinery or equipment
  • Refinance debt to reduce monthly payments
  • Obtain working capital

The Flushing Bank SBA Business Loan Difference

As a Preferred SBA Lender, we can provide business owners with long-term, low-rate and low down payment financing on their SBA loans. And that's just the beginning of the benefits. Your Flushing Bank SBA loan offers you the following:

  • Fast application and decision-making process to provide you with a quick pre-approval
  • Long-term financing
  • Low fixed and variable interest rates
  • Flexible terms

SBA Business Express Loans

Flushing Bank's SBA Business Express Loan is designed to provide your business with a boost utilizing a Term Loan or Line of Credit. Benefits include:

  • Quick Turnaround
  • Borrow Up to $150,000
  • Financing Up to 7 Years
  • Competitive Variable Interest Rate
  • Streamlined Application and Approval Process

Flushing Bank's SBA 7a Loan Program

The SBA 7a Loan Program is an excellent resource for helping you achieve your goals. A Business Banker can help you meet all the eligibility requirements and guide you through the application process. The factors taken into consideration for a 7a Business Loan include size, type of business and use of proceeds.

The general terms and conditions of a 7a loan include:

  • Maximum loan amount of $5,000,000
  • Maturity depends upon use of proceeds
  • Variable interest rates at an index set above the prime rate
  • SBA fees and eligibility criteria apply when applicable

Purpose can be for expansion/renovation, purchase of fixed assets and/or owner occupied real estate, leasehold improvements, debt refinancing and working capital.

SBA 504 Loan Program

The SBA 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as owner occupied commercial real estate. Flushing Bank partners with a local Certified Development Company to provide up to 90% financing. A CDC is a nonprofit corporation set up to contribute to the economic development of the community.

Under the 504 Program, the bank finances 50% of the project (acquisition plus allowable soft costs), secured by a first mortgage on the property. The CDC provides 40% of the project costs secured by a second mortgage. The borrower provides a 10% down payment.

  • Maximum amount ranges from $1,500,000 to $5,500,000 depending upon project
  • Terms are 20 years for real estate and up to 10 years on equipment
  • Fixed rate typically below bank’s rate
  • Certain fees and eligibility requirements apply

Benefits

  • Low equity down payment
  • 20 year fixed rate loan on real estate purchases
  • Waiver of mortgage recording tax on 2nd mortgage loan amount

Let us help you improve your business with an SBA loan or owner occupied commercial mortgage. Call us at 800.581.2889 to speak to a Business Banker and discover the benefits of an SBA loan from Flushing Bank. If you are interested in a business loan submit your information and we will contact you.

Loans are subject to credit approval.