Loan Programs

The Small Business Administration (SBA) offers both SBA 7(a) Loan Program and SBA 504 Loan Program loans that have great advantages over conventional financing. Our experienced team at Stearns Bank will walk you through the entire loan process and help you select the type of loan appropriate for your situation.

  SBA 7(a) Loan Program SBA 504 Loan Program
Use of funds Start-up, acquisition, remodel, real estate purchase/construction, equipment, leasehold improvements, franchise fees, debt refinance, inventory & working capital Purchase, construct or renovate owner-occupied commercial real estate or purchase equipment
Loan Amount Up to $5 million No maximum amount (typically up to $12 million)
Terms Up to 7 years for working capital, 10 years for equipment or business acquisition, and 25 years for real estate Up to 20 years on real estate and up to 10 years on equipment
  • Lower down payment to conserve cash for your business
  • Longer terms with a lower monthly loan payment
  • FAST Track loans $350,000 or less approved in hours, larger loans approved in days
  • Flexible, at Stearns Bank there is no defined “credit box” or unnecessary limitations

For more information, please contact our SBA lending department at 1-888-320-2899.
Go to to learn more about these government programs.