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Fast Facts on SBA vs USDA Loan Guarantee Programs

 
SBA 7a
USDA Rural Development
LOAN AMOUNTS
$5 Million maximum
$10 Million maximum (generally)

GUARANTEES
75%
80% on loan amounts under $5 Millio
70% on loans between $5 - $10 Million

LOAN TERM
*25 years for real estate
*15 years or useful life of equipment
*7 or 10 years for working capital
*30 years for real estate
*15 years or useful life of equipment
*7 or 10 years for working capital

PROPERTY TYPE
Owner occupied commercial property
Owner occupied OR investment property

INTEREST RATE
Variable
Fixed or Variable

PREPAYMENT PENALTY
5%-3%-1% for loan terms over 15 yrs.

Negotiated between parties
LOCATION RESTRICTIONS
None
Must be located in "rural" location outside of metropolitan areas

LENDER'S LOAN FEES
None
Negotiated between parties

 

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