SBA LOANS

Provident is an SBA Preferred Lender - which means we can approve your small business loan application directly, without waiting for approval from the Small Business Administration.

SBA 7(a) Loan

With flexibility on terms and business uses, this is the most common SBA loan product. If you are in search of a loan for acquisitions, partner buyouts, real estate purchases, a start-up, franchises, refinancing and more, an SBA 7(a) loan is a great option.

Benefits of a SBA 7(a) loan include:

• Up to 90% bank financing
• Fully amortized/no balloons
• No pre-payment penalties for loan terms under 15 years

SBA 504 Loan

Although the eligibility requirements for an SBA 504 loan are very similar to that of the 7(a) loan program, the approved uses of the loan differ. The proper uses of an SBA 504 loan include buying commercial real estate, financing improvements within that real estate, and purchasing large equipment.

Benefits of an SBA 504 loan include:

• Low down payment (typically 10%) conserves your cash
• Fixed or floating interest rates available

Quick Approval of SBA Loans

At Provident Bank, our SBA Loans offer flexible qualification requirements, long repayment terms up to 25 years, and high borrowing limits—from $200,000 to $5 million. As an SBA Preferred Lender, we can directly approve your loan application without waiting for the Small Business Administration’s decision. This streamlined SBA loan application process will get you the money you need faster!