SBA Loans

As an SBA-approved lender1, Seacoast Bank offers a variety of small business loan options to fit your unique needs

Whether you’re starting, expanding or refinancing, our flexible SBA loan options are designed to align with your business objectives.

Why Choose Seacoast Bank For Your SBA Financing?

Seacoast Bank is your one-stop shop for unlocking your business potential with SBA loans. Here’s why we’re the perfect partner for your success.

Preferred SBA Lender

Preferred
SBA Lender1

Our SBA loan programs can be customized to your specific needs, whether you’re starting a new venture, expanding your operations or refinancing existing debt.

You can even combine multiple financing needs into a single loan for simplified management.

Streamline Application Process

Streamline
Application Process

We value your time. Our application process is designed for efficiency so you can focus on running your business.

Quick Decision & Faster Funding

Quick Decision &
Faster Funding

Get the green light quickly. We work hard to deliver fast decisions and get the capital you need in your hands quickly.

As an SBA-approved lender, Seacoast is ready to help you acquire the capital needed to grow your business.

 

What is Small Business Administration (SBA) Lending?

SBA loans are a powerful financial tool specifically designed to fuel the growth and success of small businesses. SBA loans are partially guaranteed by the Small Business Administration (SBA), a government agency dedicated to supporting entrepreneurs.

This guarantee makes SBA loans more attractive to lenders, allowing them to offer you:

  • Favorable loan terms - SBA loans often come with lower interest rates and longer repayment periods compared to traditional business loans. This translates to more manageable monthly payments and frees up valuable cash flow for you to invest in your business.
  • Reduced risk for lenders - The SBA’s partial guarantee reduces the risk for lenders, allowing us to offer SBA loans to a wider range of qualified businesses. This means even if you’re a startup or a young company, you may still be eligible for an SBA loan.
  • Access to larger loan amounts - SBA loans can provide larger sums of money compared to many traditional business loans. This allows you to make significant investments in your business, like purchasing commercial real estate, acquiring new equipment or expanding your inventory.

How does an SBA Loan work?

SBA loans are not directly issued by the government but rather by trusted lenders like Seacoast Bank., who work in partnership with the Small Business Administration (SBA) to offer loans to small businesses. We will navigate the SBA loan program to find the perfect fit for your business needs and support you through each step of the loan application process to ensure your application meets SBA requirements.

What are the approved uses of an SBA Loan?

There are numerous uses for an SBA loan. Some examples include:

Seacoast Bank SBA Loan program

Our funding options can be customized to fit any growing business's needs and can combine multiple needs into one loan.

With the Small Business Administration on your side, you can take the first step toward achieving your ultimate goals while maintaining financial stability and control.

At Seacoast Bank, we understand that every business has unique needs. That’s why we offer a variety of SBA loan programs designed to be customized and adaptable to your specific goals, including the 7(a) and 504 loans.

SBA 7(a) Loan

This versatile loan program is ideal for a wide range of business needs, whether you’re looking to expand your operations, acquire another business, manage cash flow or consolidate existing debt.

Uses of Funds
    • Purchase owner-occupied commercial real estate, machinery and equipment
    • Improve working capital and inventory
    • Finance business acquisitions
    • Refinance existing debt or secure funding for franchise or startup ventures
Benefits
    • Overcome potential collateral limitations
    • Maintain healthy cash balances through lower down payments and the option to roll closing costs into the loan
    • Enhance cash flow with extended loan terms
Features
    • Loan amounts up to $5 million
    • Flexible repayment terms
      • Up to 25 years for commercial real estate financing
      • Up to 10 years for working capital loans
      • Up to 10 years for equipment financing
    • Fully amortizing loans with no balloon payments, ensuring predictable budgeting.

SBA 504 Loan

This program is specifically designed to support the long-term growth of established businesses with commercial real estate and/or heavy machinery needs.

Uses of Funds
    • Acquire, build, renovate or expand owner-occupied commercial real estate
    • Finance essential equipment and machinery purchases
Benefits
    • Conserve your working capital by leveraging lower down payments
    • Secure below-market, fixed interest rates for long-term financial stability
    • Mitigate the impact of future interest rate fluctuations
    • Minimize your cash outflow with lower monthly payments
Features
    • Lower down payments compared to traditional loans
    • Competitive, long-term fixed-interest SBA loan rates
    • Extended repayment terms, with amortization periods of up to 25 years for commercial real estate and 10 years or more for qualifying equipment

  How to qualify for an SBA loan

   The general SBA eligibility requirements to help you determine if you qualify include:

    • Be a US-based, For-profit business - Your business must be physically located and operating in the United States with a for-profit structure.
    • Meet SBA’s size standards - The SBA defines size standards for various industries. You can find these details on the SBA website, or we can help you navigate them.
    • Clean credit history - A history of on-time payments on existing obligations demonstrates your creditworthiness.
    • U.S. Citizen or Permanent Resident Ownership - At least 51% of your business must be owned by a U.S. citizen or legal permanent resident.

    How to apply for an SBA Loan

    Applying for an SBA loan at Seacoast Bank is straightforward. Here’s what to expect:

    1. Contact us - Our friendly loan specialists are happy to discuss your needs and answer any questions you may have.
    2. Gather documents - We’ll guide you through the required documentation to streamline the application process.
    3. Submit your application - Our online application is quick and easy to navigate.
    4. Seamless support - We’ll handle the legwork and keep you informed throughout the process.

Learn More About Seacoast SBA Loans

See how Seacoast Bank's preferred lender status and knowledgeable team can help you accomplish your goals.

 

FAQs

What does small business mean?

  • A small business is typically characterized as an autonomous enterprise with less than 500 employees.

What is the SBA Loan/SBA Loan Program?

  • The U.S. Small Business Administration is a governmental body dedicated to assisting small business proprietors in initiating, developing or enlarging their businesses by collaborating with financial institutions such as Seacoast Bank to offer business loans backed by the government. The SBA partially guarantees these loans, which allows small business owners to secure business loans with less equity requirements compared to traditional business loans.
Why should you consider an SBA loan?

  • SBA loans present several benefits over traditional business loans, such as reduced down payments, extended terms, complete amortization and the absence of balloon payments. SBA loans can also offer financial support for businesses that typically struggle to secure traditional financing, like restaurants, car repair shops, self-storage facilities, new franchises and assisted living facilities.

How does an SBA loan differ from a conventional business loan?

  • In a traditional business loan, the bank takes on all the risk, and the loan is subject to the bank's lending criteria. In contrast, with an SBA loan, the risk is shared between the bank and the SBA, with the latter guaranteeing a part of the loan. SBA loans are subject to the lending criteria of both the SBA and the bank.

Do all banks offer identical SBA loans?

  • No. The sanctioning of an SBA loan is at the discretion of the bank issuing it, and each bank has its unique lending standards. Collaborating with an SBA Preferred Lender increases your chances of securing better terms and a quicker application and closing procedure compared to a non-SBA Preferred Lender bank.

Does Seacoast Bank hold the status of an SBA Preferred Lender?

  • Yes. Seacoast Bank, being an SBA Preferred Lender, is a part of the SBA's initiative to simplify the processes required to extend financial aid to the small business sector. This implies that we fulfill all the eligibility requirements of the Preferred Lender Program, including expertise in handling and servicing SBA-backed loans.

How long does it take to get an SBA loan?

  • The SBA loan approval process may differ based on the specific loan program and the complexity of your application. However, we strive to streamline the process. In many cases, we can provide a loan decision within a few business days of receiving your complete application.

Can you refinance an SBA loan?

  • Refinancing your existing SBA loan could potentially lower your interest rate, extend your repayment term or consolidate multiple loans into a single one. Contact a Seacoast Bank loan specialist to discuss your specific situation and explore your refinancing options.

How long are SBA loan term lengths?

  • SBA loan terms vary depending on the program and the purpose of the loan. Generally, SBA 7(a) loans offer repayment terms of up to 25 years for real estate, 10 years for equipment and 10 years for working capital. SBA 504 loans typically offer even longer terms, with amortization periods of up to 25 years for qualified projects.

How much money can you get from an SBA loan?

  • The maximum loan amount you can qualify for depends on your specific needs and business situation. SBA 7(a) loans can provide financing up to $5 million. SBA 504 loans can be structured to support larger projects, with a significant portion coming from participating banks like Seacoast. Our loan specialists can help you determine the appropriate loan amount to achieve your goals.

SBA-LenderDecal-FINAL

1. Approved to offer SBA loan products under SBA’s Preferred Lenders Program

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