SBA Loans and Other Business Loans and Services from Park Bank
Park Bank is your local
Park Bank means Business.
That's why we specialize in SBA lending and services specifically
designed to be business-friendly. From our new Commercial
Internet Banking and optional Business Bill Pay to the expertise in our
SBA loan department, Park Bank is your first choice for business
People Have Three Questions
about Their SBA Loan...
1. How long will it take?
2. How much does it cost?
3. What are the benefits of an
We can help answer those
questions, and others...
|SBA loans allow Park Bank to make
business loans to "Start-Up" business that it could not
SBA loans are longer in term than other bank business loans,
helping the cash flow of the business by keeping the monthly
25 years on real estate
10 years on equipment
7 years on working capital
SBA loans combine the use of proceeds of many purposes into one
The SBA is looking for loans to women and minority owned
Quick turn around time.
Park Bank makes loans which are then guaranteed by the Small
Business Administration - an agency of the U.S. Government.
The maximum SBA Guaranteed Loan is approximately $1,000,000.00.
The minimum Park Bank SBA Loan is approximately $10,000.00.
SBA loans can be made to "Start Up" or to existing businesses.
The average, normal processing time for SBA Guaranteed Loans is
15 to 30 days.
The normal interest rate on SBA Guaranteed Loans is a variable
rate tied to the national Prime Rate. The rate is usually about
Prime + 2.75%.
For start up businesses and businesses being purchased, the
borrowers normally need from 10% to 20% of the total project
cost injected into the business in the form of cash or
SBA Guaranteed Loans can be used to purchase real estate,
inventory, or equipment: for working capital, for the refinance
of existing debt, or for any other legitimate business purpose.
You do NOT have to be turned down by a bank before you can
qualify for an SBA Guaranteed Loan.
Must be for business purposes, not investment purposes.
For more information on SBA and other business loans, plus details on
our many business-friendly services, contact Park Bank today!