Community BT Community BT

Skip to Content

Helping Small Businesses Grow

Small business is the lifeblood of a community. That is why Community Bank & Trust is committed to the growth and prosperity of small businesses and are determined to help our clients achieve and build on their success. 

SBA loans can be used to:

  • Purchase machinery and equipment
  • Purchase, construct, expand or improve a building
  • Acquire inventory
  • Provide working capital
  • Purchase an existing business or open a new business
  • Refinance existing business debt on more favorable terms

Key benefits:

  • Longer term and amortization
  • Improved cash flow through a lower monthly payment
  • Larger loan amount than may otherwise be available
  • Lower down payment may be possible
  • No balloon payments

SBA Loan Program Comparison
Details Standard 7(a) Loan SBA Express Loan
Loan Amount Loans up to $5,000,000 Loans up to $500,000
Maximum Term/Amortization 10 Years for: Equipment, Business, Acquisitions, Working Capital, Inventory and Leaseholds 25 Years for Real Estate 10 Years for: Equipment, Business, Acquisitions, Working Capital, Inventory and Leaseholds; 25 Years for Real Estate; 7 Years for a Revolving Line of Credit with Annual Review
Eligible Use of Proceeds Working Capital, Inventory,Business Purchase, Equipment Financing, Real Estate Financing, Debt Refinancing, Leasehold Improvements Working Capital, Inventory, Business Purchase, Equipment Financing, Real Estate Financing, Debt Refinancing, Leasehold Improvements, Revolving Line of Credit
Rate Structure Floating rate (Quarterly) Floating rate (Quarterly)
Collateral 1st Lien on assets to be financed required. SBA may require additional collateral on other business or personal assets 1st Lien on assets to be financed required. SBA may require additional collateral on other business assets or personal assets
Guaranty Fee Paid to SBA Varies based on loan amount. Contact lender for details. Varies based on loan amount. Contact lender for details.

Am I eligible for an SBA loan?

There are certain criteria that must be met in order to qualify for an SBA loan. The business must:

  • Operate for profit
  • Be located in the United States
  • Meet credit qualifications
  • 51% owned by citizen or legal permanent resident (LPR)

What information do I need to apply for an SBA loan?

Once you've decided to apply for an SBA loan, you will need certain information to apply. A Community Bank & Trust SBA specialist will help walk you through this process. Prior to meeting with us, refer to the following documents to prepare and gather the necessary information:

What will my banker ask me?

The following information is what you need to know before coming in to see a Community Bank & Trust lender.

  • Why are you applying for this loan?
  • How will the loan proceeds be used?
  • What assets need to be purchased, and who are your suppliers?
  • What other business debt do you have, and who are your creditors?
  • Who are the members of your management team?