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Ann Arbor State Bank Ann Arbor State Bank
125 West William St.
Ann Arbor, MI 48104 (734) 761-1475

SBA Loans

SBA 504 & 7a Lending Programs are available options at Ann Arbor State Bank

In general, to qualify for an SBA Loan, a business must be:

  • Owner-operated
  • For-profit
  • US-based business

Loan Uses and Terms

SBA loans are meant to finance the growth or creation of business and fall into four broad categories:

  • Purchase of Existing Business
    • Businesses with a track record of success are good candidates for an SBA loan
    • Collateralization requirements are typically less stringent than for conventional loans, and often a lower down payment is required
    • Many businesses could not be sold under any other terms, making SBA lending beneficial to both buyer and seller
  • Purchase, Construction or Refinance of Owner Occupied Real Estate
    • Loan terms up to 20 years
  • Capital Assets
    • For the purchase and use of capitalized assets, typically machinery and equipment.
    • Loan terms up to 10 years
  • Working Capital
    • For needs like managing day-to-day cash flow

For more information on SBA lending programs, you can visit www.sba.gov.