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Planning major improvements and investments in your business — such as buying equipment or a building — are opportunities to seize when the time is right. Working with a partner who knows your business, your plans, and your industry provides stability and comfort in knowing you can act at the optimal time. Our experts help you navigate the different small business loans and tailor them to your needs, providing reliable funding to launch the next phase of your business.

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small business loans

504 loan

A popular small business loan program, the 504 loan provides security of longer amortization and fixed-rate financing — without frightening balloon payments. It also features 90% financing, which makes it desirable to small business owners.  This loan can be used for fixed assets and related costs that promote the growth and development of your business, including:

• Buying land, including existing buildings

• Making improvements, including grading, street improvements, utilities, parking lots, and landscaping

• Building new facilities or modernizing, renovating, or converting existing facilities

• Buying long-term machinery or equipment

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7(A) LOAN

With a maximum loan amount of $5 million, the 7(a) loan is attractive to many owners of small-to-medium sized businesses who use them to fund their new business and capital needs. With favorable repayment terms and fixed interest rates, they’re a predictable source of capital to improve cash flow and start or expand your business. Our seasoned small business loan experts can help you navigate the requirements of getting a 7(a) loan for:

• Establishing a new business

• Acquiring an existing business

• Long-term working capital for operational expenses, accounts payable, purchasing inventory

• Short-term capital needs for seasonal financing, construction financing, and exporting

• Purchasing equipment, machinery, furniture, supplies, and real estate

• In some cases, refinancing existing business debt

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USDA BUSINESS & INDUSTRY

Developed to save and create jobs in rural areas, these small business loans provide funding to rural businesses. If you’re planning improvements in your business in a rural area, our loan experts will help you investigate the benefits of this loan and your eligibility. It can be used by business owners looking for financing for:

• Expanding, repairing, modernizing, or developing your business

• Purchasing and developing land, easements, rights-of-way, buildings, or facilities

• Purchasing equipment, leasehold improvements, machinery, supplies, or inventory

• Refinancing debt when it improves cash flow and creates or saves jobs

• Making business and industrial acquisitions that will create or save jobs

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INTERNATIONAL TRADE LOAN PROGRAM

Growing your import business or expanding and modernizing to match foreign competition are two prime uses of the International Trade Loan Program. Your business can receive up to $5 million in small business loans through the program for multiple improvements, including working capital for export transactions. With up to 90% financing, flexible eligibility requirements, longer-term amortization, and fixed-rate financing, businesses often use the International Trade Loan Program for:

• Acquiring, constructing, renovating, modernizing, improving, or expanding facilities or equipment in the United States to produce goods or services involved in international trade

• Working capital

• Developing new foreign markets for your products or business

• Refinancing an existing loan

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