Get the financing you need to make your next move.
- Lower rates, longer repayment terms
- Cover start-up costs
- Purchase property and equipment
We respect your hard work. And understand your needs.
There's nothing easy about keeping a small business strong and profitable. At Lincoln Savings Bank, we know that success is often fueled by affordable financing for property acquisition, equipment purchases and expansion costs. We work closely with the U.S. Small Business Administration to provide the lending solutions you need to keep your competitive edge.
SBA 7(a) Loans
The SBA's primary program provides term loans and lines of credit for a variety of purposes. Businesses can expect fast action on their applications, with decisions generally made in under 10 days.
- Variable rate loans
- Financial assistance up to $5 million
- Funding available to cover start-up costs
- Existing businesses can finance the purchase of land or buildings, equipment, machinery and inventory
- Loans available for new construction, expansion projects or conversion of existing facilities
- Working capital lines of credit
- Repayment terms up to 10 years for equipment, inventory and working capital, and up to 25 years for real estate
SBA 504 Loans
Funding for purchase of fixed assets, such as land, buildings or expensive equipment and machinery.
- Fixed-rate loans
- Financial assistance up to $12 million
- Repayment terms up to 20 years
- Funds can also be used to upgrade existing facilities and on property enhancements such as parking lots, landscaping and utilities
How to Apply
To prepare for your application, review the SBA’s Loan Submission Checklist. Key documents include:
- Statement of personal history
- Personal financial statement
- Personal income tax returns for the last three years
- Business tax returns for the last three years
- Business certificate or license
- Business lease
- Loan application history