Easier Loan Qualifications
Qualifying for an SBA loan is generally easier than for other types of loans.
Small Business Administration (SBA) Loans
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; acquire or renovate owner/user commercial real estate; or finance equipment, inventory or working capital.
Let's talk about your business lending needs
Key Features of SBA Loans
Lower Down Payment Requirements
Down payment requirement is typically lower than for a conventional loan.
Early Payoffs Welcome
No prepayment fees for terms less than 15 years.
Work with a Lending Leader
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.
Flexible Financing Solutions
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.
SBA use of proceeds:
- Business acquisition, expansion or start-ups
- Commercial real estate purchase, expansion, renovations or leasehold improvements
- Equipment and inventory purchases
- Franchise financing
- Working capital and refinancing existing debt (restrictions apply)
- Exporting
SBA financing features:
- Longer repayment terms which means lower monthly payments
- Down payments as low as 10%
- No prepayment fee on terms less than 15 years (excluding SBA 504)
- No balloon payments on SBA 7(a) loans
SBA Loans to Veteran-owned Small Businesses
The U.S. Small Business Administration has authorized fee relief to help support veterans and eligible members of the military community establish or expand a business.
The SBA has eliminated the upfront SBA guaranty fee on SBA Express Loans to veterans and those who qualify as a veteran* in the military community. For all SBA Express loans to qualified veteran-owned businesses, the upfront guaranty fee will be 0% up to the maximum loan amount of $350,000.
Get More Veteran-Owned Business Resources for starting, growing and running your business from SBA.gov »
*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.
SBA 7a Loans
Both growing and well established businesses can use the SBA 7(a) loan program to meet a variety of business credit needs. The SBA 7(a) loan program features loan amounts up to $5 million and long-term financing.
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).
Benefits
- Broad eligibility – loan proceeds may be used for a wide variety of business purposes
- SBA guarantee program – assists businesses in qualifying for loans they want
- More flexible – often with longer repayment terms and lower down payments than conventional bank loans
- No prepayment fees – for loans with repayment terms less than 15 years
SBA 504 Loans
The SBA 504 loan program is for businesses that want to finance larger projects including commercial real estate, heavy equipment, construction and major renovations.
In addition, the SBA 504 loan program features a debt refinancing program which can help a business improve cash flow by lowering its monthly payments on existing conventional loan debt.
Benefits
- Low down payments – as little as 10% of the total project cost
- Longer repayment terms – up to 25 year repayment terms
- Larger dollar limits – enables a business to finance the cost of acquiring and/or constructing larger fixed assets such as commercial real estate and heavy equipment
- Competitive rates – providing more cash flow to use towards operating costs and the ability to fix the rate for a longer term.
SBA Express
The SBA Express loan program can be used to finance a wide variety of business purposes and features loan amounts up to $350,000 and a simpler application process (compared to other SBA loan programs).
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.
Benefits
- Easier application processing – simple loan application process expedites loan turnaround
- SBA guarantee program – assists businesses in qualifying for loans they want
- More flexible – Often with longer repayment terms and lower down payments than conventional bank loans
- No prepayment fees – for loans with repayment terms less than 15 years
SBA Export Express
The SBA Export Express loan program provides businesses that export product internationally access to credit to help them grow or expand their business globally and features loan amounts up to $500,000.
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, and to finance long-term, fixed assets.
Benefits
- Streamlined exporting loan program – simple loan application process expedites loan turnaround
- SBA guarantee program – assists businesses to qualify for loans they want
- More flexible – often with longer repayment terms and lower down payments than conventional bank loans
Contact Us
Discover how our SBA Finance Group could work with your business.
Call Us at 1-855-762-2365
Monday through Friday
8:00 a.m. to 6:00 p.m. ET
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Important Legal Disclosures and Information
All loans and lines of credit subject to credit approval and require automatic payment deduction from a business checking account. Additional fees may apply.
Bank deposit, treasury management, and lending products and services are provided by PNC Bank, National Association, a wholly owned subsidiary of PNC and Member FDIC.
PNC is a registered mark of The PNC Financial Services Group, Inc.
PNC’s Retail Bank currently operates in all or part of the following States: Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, Washington DC, West Virginia and Wisconsin. If your business is located outside of PNC’s servicing area, then please call us at 1-855-762-2365 for further assistance.
† Important information: Calls to or from us may be monitored or recorded by us for quality control and training purposes. By providing your phone number and/or email address, you consent and agree to receive phone calls and electronic mail from PNC, its affiliates and designees.
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