Get the small business financing you need to make your next move.
- Iowa's Top SBA 7(a) Lender
- Local Decision Making
- Dedicated SBA Lending Team
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 for small businesses is often fueled by affordable financing for property acquisition, equipment purchases and expansion costs. We work closely with the U.S. Small Business Administration (SBA) to provide the lending solutions Iowa businesses need to keep their competitive edge.
What is an SBA 7(a) Loan?
SBA 7(a) loan is the Small Business Administration's (SBA) primary program. SBA 7(a) loans provides flexible, longer terms 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.
Benefits of an SBA 7(a) Loan
- Variable interest 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 loans
How can SBA 7(a) Loan Funds be Used?
- Long- and short-term working capital
- Revolving funds based on the value of existing inventory and receivables
- To purchase equipment, machinery, furniture, fixtures, supplies, or materials
- To purchase real estate, including land and buildings
- Construction of a new building or renovation an existing building
- Establishing a new business or assisting in the acquisition, operation or expansion of an existing business
- Refinancing existing business debt, under certain conditions
Why choose Lincoln Savings Bank?
- #1 SBA 7(a) Lender in Iowa 2021
- #1 SBA Lender- Women-Owned Businesses in Iowa 2021
- #1 SBA Lender- minority- Owned Businesses in Iowa 2021
- #2 SBA Lender- Veteran- Owned Businesses in Iowa 2021
- #2 SBA Lender- Small Business Start-Ups in Iowa 2021
- #2 SBA Lender- Exporting in Iowa 2021