SBA LENDING DEPARTMENT
Commerce National Bank's SBA Lending Department complements the bank's seasoned commercial lending group, enabling the bank to better serve its existing client base while working to expand the bank's core business. Benefits of SBA financing include lower down payments to preserve capital, longer loan terms to improve cash flow, attractive interest rates, and more flexible credit parameters.
- 7(a) loans may be used for purchase or improvement of owner-occupied commercial property, refinance of existing debt, acquisition of a business, partnership buy-out, financing for equipment or inventory, working capital, or any combination of the above. The term ranges from 10 to 25 years, depending on the use of proceeds.
- 504 loans may be used for the purchase or improvement of owner-occupied commercial property, and may include refinancing existing debt in certain cases. Up to 90% of the project costs may be financed.
Senior Vice President
SBA Lending Department