SBA Guarantee Loan

The SBA’s primary lending program, the 7(a) Loan Program, offers U.S government-backed term loans that can support a variety of financial needs. The program guarantees as much as 85 percent of loans up to $150,000 and 75 percent of loans greater than $150,000.

Features

Funds can be used to:
- Purchase or expand business
- Purchase land or buildings
- Construct or renovate a facility
- Purchase equipment, fixtures, inventory, and working capital
- Leasehold improvements
- Refinance business debt
Available terms up to:
- 25 years for real estate
- 10 years for equipment (as long as the equipment is likely to stay useful during that time)
- 7 years for working capital
Maximum loan amount is $5 million

Testimonial

We owe a great deal of gratitude to our personal lender and the services at West Gate Bank. They came to our rescue at a critical point in our company's recent past. Not only did they provide the lending and critical financial services we needed at the time, they continue to be an integral partner in maintaining our success with their constant nurture. Their support, business acumen, and generous helpful advice have been key in our company's accomplishments in an unquestionably challenging economic environment.

— Ted Eschliman, Co-owner, Dietze Music