When it’s time to move your business forward, a U.S. Small Business Administration (SBA) loan from Wells Fargo may be the solution if you’re seeking a financing option with:
- Long repayment terms. This means lower monthly payments.
- Lower down payments. Makes upfront costs more affordable.
The difference between SBA loans
SBA 7(a)
- Designed for businesses looking to acquire an existing business, buy-out a partner, expand to another location, purchase real estate or equipment, or those looking to combine any of these needs into one loan.
- Appropriate for longer term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Loan amount is up to $5,000,000.
- Terms are up to 25 years for commercial real estate and up to 10 years for all other purposes.
- Interest rates can be either fixed or variable.
SBA 504
- Designed for businesses looking to expand through land or building acquisition, construction, or equipment purchase.
- Appropriate for longer term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Loan amount is up to $6,500,000 for the Wells Fargo portion and up to $5,000,000 for the portion funded by a Certified Development Company.
- Terms are up to 25 years for commercial real estate and up to 10 years for machinery or equipment.
- Interest rates are fixed or variable.
Get to know the SBA loan programs
Learn more about our Small Business Administration loans and which may be best for you.
Watch video
Learn how others have started or grown their business with an SBA loan from Wells Fargo.
An appetite for business.
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Customers may finance with a longer term which decreases their monthly payment, but may increase the total interest paid over the life of the new loan.
Lower down payments may result in higher monthly payments and a higher loan balance.
Some small manufacturers or specific types of energy projects (as described in the energy project section) may qualify for a $5.5 million debenture.
For discussion purposes only. All financing is subject to credit approval and determination of SBA eligibility by Wells Fargo SBA Lending. Additional collateral may be required.
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