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Mission Bank is proud to have an SBA Lending Division that is dedicated to offering access to the capital your company needs. You will be guided step-by-step through the application process by professionals experienced in SBA lending.
Based on our experience and proven track record, Mission Bank has been granted Preferred Lender status with the SBA. What does this mean for you? Decision times on SBA loans are substantially reduced — up to 30 days faster than non-preferred lenders — which means we can quickly get you the capital your company needs to grow.
The SBA loan programs can assist you with:
|SBA 504 Program
(Bank & SBA)
Real Estate Program
Non-Real Estate Programs
|Use of Proceeds||Commercial real estate purchase, construction or improvement, and permanent equipment (no refinance)||Commercial real estate purchase, construction or commercial real estate refinance||Tenant improvements, equipment purchase, business acquisition, partner buy-out, inventory, debt refinance and working capital|
|Loan Amount||Up to $10 million total||Up to $5 million||Up to $5 million|
|Maximum LTV||Up to 90%
(50% bank loan, up to 40% SBA loan)
|Up to 90%||Varies based on use of proceeds|
|Loan Amortization||Up to 25 years on both the Mission Bank and SBA loans||Up to 25 years||Up to 10 years|
|Interest Rates||Fixed and variable rate options available from Mission Bank. SBA offers 10-, 20- and 25-year fixed rate options.||Fixed and variable rate options available from Mission Bank||Variable based on Mission Bank Prime, with fixed available on an exception basis only|
|Loan Term||Call for details||Fully amortized up to 25 years||Fully amortized up to 10 years|
|Fees||Bank fee plus SBA fees (financed as a part of the loan)||Bank packaging fee plus SBA guarantee fee||Bank packaging fee plus SBA guarantee fee|
|Prepayment Penalty||Call for details||Maximum 3 years (5,3,1)||None|
|Collateral||1st and 2nd trust deeds on the real estate being financed||Real estate being financed, plus additional collateral if available/necessary to reach 100% collateralization||Assets being financed, plus additional collateral if available/necessary to reach 100% collateralization|
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