SBA (Small Business Administration) loans are small business loans that are partially guaranteed by the SBA which assist lenders to make loans they might not otherwise be able to make. At Climate First Bank, we offer SBA loans for business expansion, acquisition, partner buyouts, real estate purchases, solar installations, and more.
SBA 7(a) Loans
SBA’s premier lending program helps small businesses preserve capital, reduce monthly payments, and acquire long term financing. The program offers,
- loan terms up to 25 years to reduce monthly payments,
- as little as 10% equity required to help preserve capital needed for growth,
- flexible use of proceeds, including,
- real estate purchases,
- improvements such as leasehold improvements, retrofits for HVAC, window/lighting upgrades, solar installation, or electric vehicle charging stations,
- business acquisition, key employee or partner buyouts,
- working capital or debt refinance
SBA 504 Loans
The SBA 504 loan program provides long term, fixed rate financing for major fixed assets that promote business growth and job creation. The program,
- offers loan terms up to 25 years with no balloon,
- offers down payments as low as 10%,
- structures loans with Certified Development Companies,
- has long term, fixed rate financing,
- can be used for,
- buying a building,
- financing ground up construction,
- building improvements,
- purchase of heavy machinery or equipment,
- refinance or consolidate existing debt
Business Acquisitions and Buyouts
Climate First Bank can assist with small business acquisitions for:
- Service Companies
- Medical, Dental, and Veterinary Practices
Key Factors in Business Acquisition:
- Borrower’s industry experience
- Equity for down payment
- Solid personal credit history
- Historic cash flow and projections for company to be acquired
Each loan is unique so please contact Valarie to discuss your scenario.
Real Estate Lending
Acquire or improve real estate with long term finance options with SBA loan programs.
Loan types include: industrial, office, retail, child care facilities, mini storage warehouse, hospitality, and assisted living facilities.
How it Works:
- 10% borrower down payment, 50% bank loan, and 40% SBA CDC loan
- Bank loan is structured at conventional terms and the CDC portion of the loan is up to 25 years on a fixed rate
- Owner must occupy at least 51% of the space
- Up to 25 years when real estate is owned and 10 years when real estate is leased
- 10% borrower down payment
- Requires lease to match term of loan
- A UCC lien filing is required on improvements and all other available collateral as needed by the guarantor
Climate First Bank is committed to reducing Co2 emissions by funding solar, EV, and construction projects aimed at energy efficiencies.
Our exclusive financing programs for commercial solar offer 100% financing up to 20 years at a fixed rate of 5.99%.
USDA Business and Industry Loans (B&I):
Climate First Bank finances large scale solar projects through the USDA B&I program. The B&I program is eligible in certain rural markets providing long term, fixed rate financing for non-profit and for profit businesses.