Northwest Bank is committed to the growth and development of small businesses. With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans.
If you have a growing business, SBA financing can help you to:
- Purchase or renovate real estate.
- Purchase or upgrade real estate to operate your business, construct a business facility or make. improvements to an owner-occupied property.
- Purchase fixed assets. Includes assets such as specialized equipment.
- Borrow working capital. Manage day-to-day cash flow and purchases.
SBA loans provide many advantages like:
- They are easier to qualify for than conventional business loans.
- Offer longer repayment terms which provide lower monthly payments.
- Borrow up to 90% of the collateral's value.
- Applicable fees may be financed directly into the loan.
SBA 7(a) can provide funds for a variety of business purposes. Proceeds can be used to fund equipment purchases, business acquisitions or expansion, finance permanent working capital or purchase real estate.
Northwest Bank's Business Banking division offers experienced bankers and analysts who specialize in understanding the financial needs of the business sectors in the communities they serve. Contact a Northwest Bank Business Banker today!