Starting a business or expanding an existing one?
An SBA Loan could be the solution for you.
First Home Bank offers Basic 7(a) and Certified Development Center (CDC) 504 loans to meet your business’ unique needs.
An SBA Loan with 1HB offers:
- Competitive Rates
- Loan amounts up to $5 million
- Longer repayment terms
- No balloon payments
- Lower down payments
- No pre-payment penalties for loans under 15 years
- Cost financing
SBA 7(a) Loans are designed to meet the following business needs:
- Working Capital
- Debt Refinancing
- Machinery/Equipment Financing
- Owner Occupied Commercial Real Estate Acquisition
- New Construction/Renovation
- Business Acquisitions
- Combination of any of the above
What you’ll need to get started:
- Three years of personal tax returns and a personal financial statement for each owner of 20% or more of the business
- Three years of business tax returns
- A current balance sheet and profit/loss statement for the business.
Eligible Businesses include:
Medical and Dental Professions
Auto Repair Facilities
Assisted Living Facilities
Hotels and Motels