Small Business Administration (SBA) Loans
As an SBA Preferred Lending Partner (PLP), Pacific National Bank is committed to serving small businesses and Professionals in the South Florida community. We specialize on the basic and most popular SBA loan programs, which can be used for a variety of business purposes. With an SBA loan from Pacific National Bank you will have longer and more flexible terms for the acquisition or refinance of owner–occupied commercial real estate, business acquisition, and multi–purpose loans which may include, but are not limited to, a combination of any of the above–stated purposes plus purchase of equipment, inventory, debt refinancing, working capital, and even all of the estimated closing costs.
The SBA–guaranteed loans we currently offer are:
7(a) Loans
Loan amounts range from $250,000 to $5,000,000. Loan proceeds may be used for the financing or refinancing of owner–occupied commercial real estate, working capital, inventory, machinery & equipment, furniture & fixtures, building improvements, debt refinancing, business acquisition or expansion, and closing costs among other business–related purposes.
Advantages include:
- Flexible financing options not available under conventional loan programs
- Up–to 90% financing on purchases of owner–occupied commercial real estate
- Long–term financing (typically, 25 years) for purchases of fixed assets
- Fully amortized loans with no balloon payments
- No prepayment penalties for loans with a term of under 15 years
- Quick approvals and closings
504 Loans
The SBA 504 program provides long–term financing for small businesses seeking to acquire or refinance owner–occupied commercial real estate. 504 loan proceeds may also be used to finance equipment with a useful life exceeding 10 years. Other uses include construction and/or property renovations tied to owner–user real estate.
Pacific National Bank participates in the 504 loan program in partnership with SBA–approved Certified Development Companies (CDC) to provide competitive rates and flexible loan structures.
Advantages include:
- Down payments as low as 10% on multi–purpose properties
- Fully–amortized loans with no balloon payments (CDC portion)
- Low Fixed and variable rates available
- Quick approvals and closings
For more information about our SBA loan programs, please contact us at: pnbsba@pnb.com.