As a proud preferred lender of the Small Business Administration (SBA), Rockland Trust strives to enable easier access to capital for the small businesses in our communities. Government-backed SBA loans feature:
It's important to be aware that every business is subject to SBA eligibility requirements and credit approval.
504
A fixed-rate term loan that can be used for financing long-term assets, primarily the purchase and/or construction of commercial real estate or machinery.
Key Benefit: Allows for as little as a 10% down payment on most real estate purchases.
7(a)
A term loan that can be applied towards a wide range of purposes, including working capital, asset acquisition, refinancing and business purchases. Interest rates may be fixed or variable.
Key Benefits: No SBA Guaranty Fee† up to $1 million and flexible use of funds.
Express
Offered as either a term loan or a revolving line of credit, an Express Loan can be used for a range of purposes - much like the 7(a) Loan Program. Express Loans are underwritten directly by Rockland Trust for a faster approval.
Key Benefits: Flexible collateral guidelines, no SBA Guaranty Fee†, and streamlined application.
Eligibility requirements are the same as the 7(a).
*When compared to a traditional bank funded loan. Inquire with a banker to learn more.
**Maximum loan amount is $5 million or up to $5.5 million for certain energy related projects.
†SBA Guaranty Fee is calculated based on the guaranteed amount of the loan and set by the SBA. Fee percentages are stepped based on loan maturity and ranges from 0% (Express Loan) to 3.75%. Inquire with a banker to learn more.
