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Take Advantage of Important SBA Loan Programs Through September 30, 2014

Recap: Finance Your Small Business to Success Informational Workshop

The Greater Sharpstown Management District (GSMD) in collaboration with East West Bank and Small Business Adminstration held an informational workshop on July 24, 2014 at East West Bank - Community Center. Speakers included David Hawes, Greater Sharpstown District Executive Director, Paul Cheong, East West Bank First Vice President & Senior Relationship Manager, Manuel Gonzalez District Director, Houston SBA District Office, and more.

Southwest Corporate Center

CLICK HERE to Watch the Video

Presentations from the Workshop:

Greater Sharpstown Management District

Small Business Administration - Loan Programs

 


SBA Loan Programs

The SBA offers numerous loan programs to assist qualified small businesses. A key concept of the SBA Lending Program is that the loan originates from a lender, not the U.S. Government.

SBA's Three Popular Loan Programs:

  • 7(a) Guaranty Loan
  • 504 Debenture
  • SBAEXPRESS Loan

7a Guaranty Loan Program:

Where Total Loan Amount is:

  • $150,000 or less: borrower must pay 2% of the SBA guaranteed portion (85% of total loan). ** Effective FY2014 (until 9/30/14), the guaranty fee is reduced to 0% for loans $150,000 or less.
  • $150,001 to $700,000: 3% of SBA guaranteed portion (75% of total loan).
  • $700,001 to $1,000,000: 3.5% of SBA guaranteed portion (75% of total loan).
  • $1,00,001 to $1,500,000: 3.75% on guaranteed portion over $1,000,000.
  • Guaranty Fee may be paid from loan proceeds.

Learn more


504 Loan Program:

The 504 loan program is a long-term/fixed-rate financing tool for major fixed assets such as land and equipment for a business location.

There are three parts to the financing of a total project under the 504 Program:

  1. First lien held by a bank (Securing up to 50% of the total project cost).
  2. Second lien SBA Debenture (Securing up to 40%).
  3. Small business applicant must contribute 10% (Up to 30% depending on type of business).

Learn more


SBA Express Loan Program:

  • MAXIMUM GROSS LOAN AMOUNT: $350,000
  • Expedited loan processing and closing: Lender uses internal loan documents, not SBA documents.
  • Same criteria as the standard 7(a) Guaranty Loan Program. Sub-program: EXPORT EXPRESS: Maximum Loan amount is $500,000.

SBA Veterans Advantage
Effective January 1, 2014 – September 30, 2014

To support America’s veterans, the Veterans Advantage reduces the guaranty fee from 3% to 0% on SBA Express loans of $150,001 - $350,000 approved to qualified veterans.

Learn more

 

Helpful Websites

For more information, contact:

SBA Houston District Office
8701 South Gessner, Suite 1200
Houston, TX 77074
713-773-6500

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