Choose from one of the business financing solutions offered by Wells Fargo and the Small Business Administration and take advantage of favorable and flexible terms and competitive loan rates. All financing is subject to credit approval and SBA eligibility.
Which SBA Financing Solution Is Right for Your Business?
|SBA 7(a) Term Loan||SBA 504 Term Loan|
|Loan or Line of Credit||Loan||Loan|
|This SBA Solution Offers||Longer terms on loans to fund working capital, business start-up, business acquisition and real estate.||Longer term financing loans for businesses to purchase commercial real estate or to expand their existing operations, help the local economy and create jobs; to longer term financing loans for businesses to purchase commercial real estate or to purchase machinery/equipment, help the local economy and create jobs.|
|Best For||For-profit businesses in a variety of industries, including those that are new, in start-up mode or recently acquired.|
To be eligible for the 7(a) loan program a business cannot have a tangible net worth that exceeds $15 million and an average net income of greater than $5 million over the past two years.
|To be eligible for the 504 loan program a business cannot have a net worth that exceeds $15 million and an average net income of greater than $5 million over the past two years.|
|Credit Amount||SBA Loan guarantee cannot exceed $3,750,000. Loan ceiling is $5 million.||$150,000 to $6,000,000 Maximum SBA Loan $5 million for public policy (Up to $5,500,000 for small manufacturers).|
|Rate||Fixed or Variable.|
Loan Term less than 7 years: Wall Street Journal Prime + 2.25%.
Loan Term greater than or equal to 7 years: Wall Street Journal Prime + 2.75%.
|Wells Fargo Loan: Fixed or variable rate, negotiated between Bank and borrower.|
SBA Loan: Below market fixed interest payment. Loan rate set when debenture is sold.