Online Banking

SBA & USDA Loans

Fast Facts on SBA vs USDA Loan Guarantee Programs

Contact:  David Newton, Director of Government Guaranteed Lending @727.254.0891 or email him at dnewton@centralbankfl.com

 

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