Small Business Loans (SBA)

Small Business Loans (SBA)

At PSB, we never lose sight of the importance of all local businesses. So if you're a small business that may have a hard time securing financing, we'll help to make your business needs a reality.

We work closely with the U.S. Small Business Administration to secure affordable financing with generally lower down payments and extended terms. Take advantage of the many financing options that may be available to your small business by financing through your hometown friends at Peoples State Bank.


Summary
  • Available to qualifying small businesses for a wide range of business needs
  • Government-assisted help for businesses that might otherwise have difficulty getting approved
  • Generally lower down payments and extended terms
  • Additional considerations taken when deciding maturity*
  • Several SBA financing options available:
  • Express Loans:
  • Can be up to $350,000
  • Reduced number of government mandated forms and procedures
  • The only program that allows revolving lines of credit
  • Streamlined processing
  • Low Doc Loans:
  • Can be up to $150,000
  • Reduced paperwork
  • Streamlined approval process
  • 7 (a) Loans:
  • Can be up to $2,000,000
  • Minimum loan limit of $350,000
  • Repayment terms based on loan purpose
  • Streamlined processing
  • SBA 504 Loans:
  • Typically below-market 10- and 20-year fixed rates
  • Up to 90% financing on real-estate, equipment, furniture, and fixtures
  • Attentive service throughout the entire process
  • Local decision-making and processing

Getting Started

If you're interested in starting the lending process, please click on the "Request Info" button above. From there, simply fill out this secure online form, expressing your interest. A customer service representative will be in contact with you shortly.


*Loan maturities are based on the ability to repay, the purpose of the loan proceeds, and the useful life of the assets financed.

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