Small Business Administration (SBA) Loans

Empower Your Business Dreams with Our Small Business Administration (SBA) Loans

At 1st Colonial Community Bank, we're more than just a bank - we're a part of the Southern New Jersey and Southeastern Pennsylvania community. We've been serving local businesses and aspiring entrepreneurs for decades. Our Small Business Administration (SBA) Loans are designed to provide the financial backing you need to start or grow your business. Trust us to guide you through every step of the process with the same commitment to customer service and community building that we've upheld for years.

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Fuel Your Business Growth with SBA Funding

SBA Loans can be a strategic tool for your business. Each of these loan types comes with the backing of the U.S. Small Business Administration, providing you with the confidence and security to move forward with your business plans. Here's how they can benefit you:

• SBA 7A Loans: These are the most common type of SBA loan. They can be used for a wide range of purposes, including working capital, refinancing debt, or purchasing a business, real estate, or equipment. With loan amounts up to $5 million and terms up to 25 years for real estate purchases, 7A Loans offer the substantial, long-term financing you need to invest in your business growth. Plus, they offer a variety of repayment options, giving you the flexibility to manage your cash flow effectively.
• SBA 504 Loans: These loans are designed for the purchase of fixed assets like real estate or equipment. If you're looking to purchase a new office, warehouse, or machinery, an SBA 504 loan can provide the funds you need. These loans typically offer lower down payments and longer amortization periods than conventional loans, making them a more affordable option for small businesses. Plus, they can cover up to 90% of the project cost, allowing you to preserve your working capital for other business needs.
• SBA Express Loans: These loans offer a faster turnaround time for loan approvals, often within 36 hours. They can be used for a variety of business purposes, including working capital, equipment purchases, inventory, or even to start a new business. With loan amounts up to $350,000 and revolving lines of credit available, SBA Express Loans provide the quick, flexible financing you need to respond to business opportunities or challenges.

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Are you ready to start or grow your own business?

With 1st Colonial Community Bank, you have a trusted partner who understands the local market and is committed to helping you succeed. Our expert business team is ready to guide you through every step of the process, providing personalized service and tailored solutions to meet your unique needs. With branches in Collingswood, Westville and Limerick, PA, we're conveniently located and always within reach.

Take the first step towards your business success. Contact us today to set up an appointment. Let's explore how our SBA Loans can help you ignite your business growth. At 1st Colonial Community Bank, your business success is our priority. Let's build a prosperous future together.

Frequently Asked Questions About SBA Loans

What is an SBA Loan?

An SBA Loan is a loan provided by a participating lender like 1st Colonial Community Bank and partially guaranteed by the U.S. Small Business Administration. They are designed to help small businesses obtain financing.

What can an SBA Financing be used for?

SBA Loans can be used for a variety of business purposes, including working capital, purchasing equipment or inventory, refinancing other debts, buying real estate, or even starting a business.

What is the difference between SBA 504 Loans, SBA Express Loans, and 7A Loans?

SBA 504 Loans are typically used for the purchase of fixed assets like real estate or equipment. SBA Express Loans offer a faster approval process and can be used for a variety of business purposes. 7A Loans are the most common type of SBA loan and can be used for a wide range of purposes.

How can I apply for an SBA Loan?

You can start the application process by contacting our expert business team to set up an appointment. We'll guide you through every step of the process, from confirming eligibility to submitting documentation and underwriting.

What are the terms and rates for an SBA Loans?

The terms and rates for our SBA Loans vary based on a number of factors, including the loan amount, the purpose of the loan, and the borrower's financial situation. Please contact us for more detailed information.

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