As small business experts, Prosperan Bank will help you determine the right kind of financing your growing business needs. One important partner in growth is the U.S. Small Business Administration (SBA).

The SBA is an independent agency of the Federal Government charged with assisting American small businesses through advocacy, management, procurement, and financial assistance. Working with Prosperan Bank and other community partners, the SBA has a number of loan programs to meet the needs of most small businesses.

SBA Loans
The Basic 7(a) Loan Guaranty
This program serves as the SBA’s primary business loan tool used to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels. It is also the agency’s most flexible business loan program, since financing under this program can be guaranteed for a variety of general business purposes.

Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions). Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets.

The Certified Development Company (CDC) 504 Loan Program
CDC’s offer long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization.

Other programs are also available. See your Prosperan Bank commercial banker for more information