SBA Term Loans

Finance a wide range of business needs

Benefits

Flexibility on your terms

Two types of SBA term loans

Choose from two Small Business Administration (SBA) term loans—a 7(a) or a 504—to meet your needs.

Preserve your cash flow

Keep capital flowing with flexible term loan amounts that can help meet most of your business's funding needs and lower monthly payments.

Make payments predictable

Rates can be fixed, reducing the risk of market fluctuations.

Get more information and apply

As an SBA preferred lender, our experienced team can help determine the best term loan structure to meet your needs.

SBA 7(a) and 504 loan details

We support two main SBA term loan programs

SBA 7(a) loans

SBA 504 loans

Overview

Up to 100% financing; most flexible use of proceeds for acquisition, start-up or expansion including working capital, equipment, franchise financing and commercial real estate

Limited to real estate and equipment acquisition; limited additional collateral requirements

Loan Amount

$50,000 to $5,000,000

Up to $15 million

Down PaymentD

Up to 100% financing available

As low as 10%

Interest Rate

Fixed or variable rate options

Fixed rate options available

TermD

Longer terms with repayment up to 25 years for real estate and for all other uses, up to 10 years full amortization with no balloon payments; initial flexible payment schedules to assist during business ramp up or transition period

Up to 25 years for commercial real estate and up to 15 years for equipment

Prepayment Penalty

No prepayment penalties for loans with less than 15 year terms

Prepayment penalties apply

How it works

Loan process steps

Our experts are here to guide you through the entire lending process from start to finish—and beyond.

Step 1

Discuss

Consult with an experienced SBA business development officer to discuss your business plans, financing needs and determine a best-fitting loan structure.

Step 2

Review and Prepare

Our specialists help you complete the documentation required by SBA for analysis.

Step 3

Underwriting

Our SBA-trained underwriting team reviews the loan package and provides a follow-up.

Step 4

Closing

Upon approval, our dedicated closing and third-party attorney group prepares a thorough checklist and guides you through the final phases for your loan.

Step 5

Ongoing Partnership

After closing, you'll gain access to our branch network, local banker, online business banking resources and our SBA analysis team—to help ensure your ongoing business success.

Franchise financing

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FAQ

People often ask us

The US Small Business Administration helps finance new businesses and helps existing businesses flourish through a federal loan program.

SBA loans can be used to start up your own business; purchase owner-occupied real estate; purchase another business; finalize a partner buyout; finance a franchise; refinance debt; purchase inventory, furniture, fixtures and equipment; gain working and expansion capital; and finance construction for ground up or leasehold improvements.

The maximum term of an SBA loan is dependent upon the use of proceeds, and ranges from 10 to 25 years. SBA loans for business acquisitions, partner buyouts, business expansion, furniture, fixtures and equipment purchases, tenant improvements, inventory and working capital carry a 10-year maximum term. Real estate loans carry a maximum of 25 years.

To qualify for an SBA loan, one must establish a record of acceptable personal credit, be a US citizen or permanent legal resident, have a profitable business, or show profitable projections acceptable for startups and expansion, and demonstrate satisfactory industry experience.

0% to 10% is the minimum down payment required by the SBA. 100% financing is available under certain conditions.

SBA loan resources include: SCORE, SBDC, SBA and Veterans and women's regional centers.

Insights

SBA loan insights for your business

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Normal credit approval applies.

Approved to offer SBA loan products under the SBA Preferred Lenders program.

First Citizens Bank offers SBA 7(a) loans in select areas within Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, New Mexico, North Carolina, Oklahoma, Oregon, Texas, South Carolina, Virginia, Washington and West Virginia.

Equity injection requirements will vary depending on type and amount of financing being requested.

Term of the loan will depend on use of funds.

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