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

Good banking requires attention to detail. Great banking grows out of caring for the customer and community. West Gate Bank is a wonderful example of both. As our bank, they do a superb job of managing our accounts, processing our payroll, and keeping us up to date with the latest features, cost-saving breaks, and legal compliance. But their commitment goes way beyond: West Gate Bank managers and employees volunteer at our events, come to visit us and see how we're doing, and help promote our mission through service and support. We could not ask for a better hometown bank. Thank you, West Gate Bank!

— Clayton Naff, Executive Director, Lincoln Literacy