Why are Iowa Small Businesses Choosing Lincoln Savings Bank for SBA Loans?

posted 8/13/2021 in Business

The Lincoln Savings Bank commercial lending team is dedicated to meeting the financial needs of small businesses. Lincoln Savings Bank’s roots are small communities in Iowa which is why small businesses across the state are choosing LSB for their Small Business Administration (SBA) loans. Lincoln Savings Bank is proud to have the opportunity to provide SBA loans to eligible small businesses and watch them start, grow, and expand.

Reasons to consider an SBA loan for your business

SBA loans are another business financing option with very business-friendly terms that range from small to large and can be used for many business purposes, including long-term fixed assets and operating capital. SBA loans have different features and terms than conventional loans and can offer businesses several key advantages. One benefit to small businesses is an easier approval process because the SBA assumes some of the risk from the loan, allowing lenders to offer more flexible terms and affordable interest rates.

Small businesses may benefit from SBA loans for a number of reasons, including:

  1. The ability to obtain up to $5 million in capital.

  2. Long-term fixed interest rates that are competitive.

  3. Longer repayment terms, up to 25 years based on the use of proceeds.

  4. Lower down payment requirements.

  5. The ability to obtain financing for a flexible variety of purposes that include startup costs, working capital, leasehold improvements, renovations, equipment, real estate, land, or debt refinancing.

Why choose Lincoln Savings Bank for an SBA loan?

Lincoln Savings Bank has over 100 years of experience helping our friends and neighbors. Since 1902, expertise and experience have made us the bank of choice for thousands of business owners just like you. More than a century later, we still provide an experience unlike any other because we are constantly focused on our customers and communities.

We have a fully devoted team of SBA lenders and support teams which allows us to make sure the customer experience is what it needs to be. We treat everyone as a valued customer and assign you an expert lender whose only goal is helping you attain your business financing needs. Having an SBA team allows for us to be hyper-focused on the ever-changing environment of lending. SBA lending can be very complex, and it takes a real passion and dedication to understand the programming on an ongoing basis in order to do it well.

In 2020, LSB was named the top SBA lender and recognized as:

Having a lender and a bank that is up-to-date in SBA knowledge is extremely important and that’s where you can trust Lincoln Savings Bank and our team of experts to have that knowledge for you to support your small business.

Learn more about SBA loans today

Whether your business is still in the “idea stage” or has been around for many years, you’ll need access to capital to start, grow, or adapt your company and SBA loans can offer small business owners several key benefits. Here at Lincoln Savings Bank, helping small businesses is what we do. Contact our knowledgeable lending specialists today to learn more about SBA loans and if they are the right fit for your business.

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