Is your company outgrowing your working Capital? Do you need new equipment but can't afford the payments? Why not consider an SBA loan?
Santa Clara Valley Bank represents community banking in the truest sense. As an independent, locally owned and operated commercial bank, we are dedicated to providing the ultimate in personal service. We offer all of the current SBA loan programs that are available to the small business owner.
The Small Business Act of 1953, as amended, established the Small Business Administration ("SBA") as an independent federal agency to develop and expand small business. The SBA assumes some of the credit risk/responsibility for loans to small businesses to expand the Nation's economy by creating jobs and tax revenue.
The 7(a) Loan Guaranty Program is the SBA's primary business loan program. Special programs have been designed within the 7(a) program to meet the specific financing needs of small businesses.
Use of Proceeds - An eligible business may use the proceeds of a SBA guaranteed loan for:
- Real Estate acquisition, refinance, construction or conversion/expansion/ renovation of - existing facilities including fixtures and leasehold improvements;
- Machinery/equipment purchase;
- Business acquisitions;
- Capital injection (working capital);
- Debt consolidation/restructuring (including payables)
Loan Maturities - SBA established maximum loan maturities are based on the use of proceeds. Maturities for loans with multiple purposes are determined on a pro-rata basis, depending on the various basic SBA maturities involved. Basic maturities are:
Working capital classifications...........up to 10 years
Machinery/equipment acquisition........up to 15 years
or the economic life (as established by the company's CPA),
whichever is less
Business acquisition...............up to 10 years
Leasehold improvements........up to 10 years
Real Estate related.................transaction up to 25 years
With a streamlined process, personalized service and competitive terms, you'll discover that working with Santa Clara Valley Bank will make a noticeable difference in achieving your business goals. Whether you're ready to expand your business, purchase commercial real estate, new equipment, increase inventory, or make other improvements, it takes a special kind of bank to focus only on customers' needs. At Santa Clara Valley Bank, we understand the needs of our business customers. In a world of mega banks and mergers where you're only a number, we provide the personal attention, respect and responsiveness you expect, a privilege that we earn one customer at a time.
With the best people in the business ready to serve you, we make it our business to meet your individual financing needs. With Santa Clara Valley Bank as your lending partner, you will find a lender who wants to be a partner in your success. With an unwavering commitment to excellence, you'll like the difference at Santa Clara Valley Bank.