Small Business Administration (SBA) loans

Convenient financing options for almost any business purpose, giving you more ways to grow your business. As one of the top SBA Preferred Lenders - we offer longer terms, lower down payments and reduced collateral requirements. Our bankers can show you how to put these programs to work for your business.1

Financial consultant advising a happy young couple while using a laptop

Benefits of the SBA

When expanding your business, a Small Business Administration (SBA) loan can help maximize your cash flow, provide more flexible structures and greater access to capital.

These loans are especially beneficial for small and medium sized businesses that may not have access to other financing at reasonable terms, as SBA loans offer below market rates and are fully fixed for term. All loans must comply with SBA requirements and meet Bank of America credit guidelines and approvals.

Types of loans

SBA loans offer more flexible structures, have lower down payments and longer maturities than conventional loans. One of our specialists will guide you through available credit options and help you identify an optimal solution.

Three people looking at a construction blueprint

SBA 504

  • Uses — Purchase equipment, purchase real estate, renovate or expand an existing property, ground up construction, refinance, cash out
  • Benefit to you:
    • Borrow up to 90% of the project cost or collateral value
    • Save money with competitive terms, amortizations, and long-term interest rates
  • Amount — $700,000 to $40 million
  • Terms — Up to 25 years, 18 months construction period
Female worker with supervisor working on laptop

SBA 7(a)

  • Uses — Purchase or expand a business, purchase equipment or inventory, provide working capital, refinance debt, purchase real estate, leasehold improvements, renovate a property

  • Benefit to you — Allows more flexible loan terms, with longer terms and maturities and with less money down

  • Amount — $350,000 to $5 million

  • Terms — Up to 10 years for working capital, up to 10 years for business acquisition and/or partner buyout, up to 10 years for leasehold improvements, up to 15 years for equipment, up to 25 years for real estate 

Two people wearing hardhats and chatting

SBA Express

  • Uses — Finance working capital, inventory, equipment and purchase or refinance owner-occupied real estate

  • Benefit to you — Flexible loan terms give your business more options

  • Amount — $25,000 to $500,000

  • Terms — Fixed rate up to 25 years, variable rates for revolving period options 

Our difference

Bank of America works for businesses and is a leading provider of credit across the United States. With the strength of the Bank of America franchise you can grow — from buying a business to building a property.

SBA specialists across the country can guide you through the credit process

A seasoned SBA lender with more than 20 years of experience

$646 million SBA Loans Approved in SBA FY22

Top 504 lender nationwide and preferred 7(a) lender2

Two businesswomen in green office looking at tablet
in your area

Find a relationship manager

We’re here to answer any questions and help you start your SBA application.

Success stories

Bank of America works with the SBA to offer a variety of loan programs benefiting many types of businesses.

Commercial real estate

Food processing company secures SBA 504 loan for $34 million cold storage facility construction

Business acquisition

Partner buy-out of services company for $3.4 million with SBA 7(a)

Equipment financing

Packaging company funds $5 million equipment need with SBA 504

Warehouse and distribution

Aircraft equipment and supply wholesale receives $13 million SBA 504 to purchase real estate

Explore more

1 SBA programs provide up to 90% financing of the purchase price. Loan terms, collateral and documentation requirements are subject to Small Business Administration (SBA) guidelines. Requires approval through the SBA 7(a), SBA 504 or SBA Express programs. Owner-occupied commercial real estate will be determined in underwriting and requires occupancy by the borrower/guarantor. Please note SBA guidelines require at least 51% occupancy to be considered Owner-occupied.

2 Eagle Compliance website with data provided by SBA. These numbers represent SBA "authorizations" and do not necessarily reflect booked loans.