SBA Loan

Explore full benefits of Small Business Administration (SBA) guaranteed loans at UniBank. As a designated SBA PLP (Preferred Lender Program) and Express lender, UniBank is dedicated to servicing the financial needs of small businesses and offers a full spectrum of SBA loan products. UniBank, as a PLP lender, is able to approve your loan based on certain credit standards without prior SBA approval. This means we provide much faster loan approvals compared to most SBA lenders in Washington State.

Benefits of SBA Loan Program:

  • Lower down payment requirement than conventional loans
  • Greater term (Up to 25 year for real estate loans)
  • Maximum 10 year for non-real estate loans
  • Start-up businesses can qualify
  • Quick response

Type of SBA Loan programs:

SBA 7(a) Loans (Up to $5 million)

For any business use, including business real estate purchase, construction, refinance, business acquisition or expansion, equipment/inventory purchases, or working capital.

  • Loans up to $5,000,000.00
  • Loan maturities: Up to 25 years for Real Estate acquisition or refinance

    Up to 10 years for Business acquisition or refinance

    Up to 10 years for Equipment (or the useful life of the equipment)

    Up to 7 years for Working capital or inventory (if written justification provided, may be up to 10 years)

SBA 504 Program

The SBA 504 Loan Program is a long-term financing tool for economic development, which provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as purchasing land and buildings, construction of new facilities, or renovation or converting existing facilities, or purchasing machinery and equipment.

The biggest advantage of this 504 Program allows businesses to contribute as little as 10% equity into a project. (* New business or limited or special purpose property requires a minimum 15% or 20% equity injection)

Typical 504 Financing Structures

 

Standard Financing

New Business or Limited or Special Purpose Property

Both New AND Limited or Special Purpose Property

UniBank (Third Party Lender) as 1st Trusted Deed

50%

50%

50%

CDC/SBA as 2nd Trust Deed

40%

35%

30%

Borrower Down Payment

10%

15%

20%

What funds may be used for:

  • Purchasing land and improvements including existing buildings
  • Grading, street improvements, utilities, parking lots, and landscaping
  • Construction of new facilities, or modernizing, renovating or converting existing facilities
  • Purchasing long-term machinery and Equipment

Maximum Debenture Amount:

The Gross Debenture cannot exceed:

(i) $5,000,000 for Regular 504 loans,
(ii) $5,500,000 for Small Manufacturers (defined as a business with its primary NAICS Code in Sectors 31,
32, and 33, and all of its production facilities are located in the United States.)

Terms, Interest rates, Fees, Size, and Prepayment Penalty:

 

UniBank 1st Trust Deed Loan

SBA 504 Debenture 2nd Trust Deed Loan

Terms

 10 years due / 25 years amortization

20 years

Interest Rates

Competitive rates (Floating and/or fixed rates available)

Fixed for life (based on SBA debenture rate) The debenture rate is determined at time of application

Size Eligibility

To be eligible as small business, its tangible net worth should not be in excess of $15 million and does not have an average net income in excess of $5 million after taxes for the preceding two years

Prepayment Penalty

To be determined

Declining first 10 years

Contact us at 425-275-9700 to learn more about the SBA advantage loan products. UniBank’s experienced loan officer will assist you from start to finish by processing your loan application in a timely manner.

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