An SBA loan may be the right choice for your business if you are about to expand, acquire or start a business or purchase a franchise; aquire or renovate owner/user commercial real estate; or finance equipment, inventory or working capital. SBA loan programs available through PNC Bank are designed to give businesses access to credit and provide financing solutions for a wide variety of business needs.
Qualifying for an SBA loan is generally easier than for other types of loans.
Down payment requirement is typically lower than for a conventional loan.
No prepayment fees for terms less than 15 years.
PNC has a long history of helping business customers match their financing needs with the appropriate SBA lending program. Start a conversation with a PNC Business Banker about an SBA loan that makes sense for your current and future business objectives.
SBA financing is designed to provide small businesses with access to credit featuring structures and terms that may be more flexible than conventional lending options.
The SBA 7(a) loan program can be used to finance commercial real estate, renovations or improvements; business acquisitions, expansions or start-ups; franchise purchase; equipment or inventory; working capital; or refinancing existing debt (certain restrictions apply).
The SBA 504 loan program features higher maximum total loan amounts than other SBA programs and is best used to finance the purchase of major fixed assets such as commercial real estate and heavy equipment, construction and major renovations.
SBA Express loans can be used to finance business acquisitions, expansions, franchise financing, Commercial Real Estate purchase, working capital and equipment and can be issued as a term loan or a line of credit.
The SBA Export Express loan program provides financing to help a company’s export development. For example, funds can be used to finance the cost of goods for exporting, purchase goods or services to support exporting business, support letters of credit and to finance long-term, fixed assets.
The SBA’s Veterans Advantage eliminates or reduces the upfront SBA guaranty fee on SBA loans for veterans and those who qualify as a veteran in the military community*.
*To qualify, the business must be 51% or more owned and controlled by an individual(s) in one or more of the following groups: Veterans (other than dishonorably discharged), Service-Disabled Veterans, Active Duty Military service member participating in the military's Transition Assistance Program (TAP), Reservists and National Guard Members, Current spouses of any of the previously listed and widowed spouses of a service member or veteran who died during service or of a service-connected disability.
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All loans and lines of credit subject to credit approval and require automatic payment deduction from a PNC Bank business checking account. Origination and annual fees may apply.