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
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.
SBA 5042
- Uses — Purchase equipment, purchase real estate, renovate or expand an existing property, ground up construction3 , 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
SBA 7(a)
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Uses — Purchase or expand a business, purchase equipment or inventory, provide working capital, refinance debt, purchase real estate, leasehold improvements, renovate a property
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Benefit to you — Allows more flexible loan terms, with longer terms and maturities and with less money down
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Amount — $350,000 to $5 million
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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
SBA Express
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Uses — Finance working capital, inventory, equipment and purchase or refinance owner-occupied real estate
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Benefit to you — Flexible loan terms give your business more options
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Amount — $25,000 to $500,000
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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
$1.2 billion SBA Loans Approved in SBA FY25
Top 504 lender nationwide and preferred 7(a) lender4
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
Transportation company in IL built their new facilities from the ground up with a $12.2MM 504 loan
Business acquisition
Franchised daycare in FL refinanced their high interest rate loan with a $1.2 million SBA 7(a) loan
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 Requires approval through the SBA 7(a), SBA 504 or SBA Express programs and subject to SBA guidelines. Subject to approval under Bank of America’s credit standards, loan terms, collateral, and documentation requirements. Products and programs of Bank of America are subject to change at any time. 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. Flood insurance is required for properties located in a flood zone.
2 Loan amount assumes a 10% client injection and 40% Certified Development Company participation.
3 The minimum loan amount for ground-up construction is $500,000.00.
4 Eagle Compliance website with data provided by SBA. These numbers represent SBA "authorizations" and do not necessarily reflect booked loans.
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