Meadows Bank specializes in Small Business Administration (SBA) 7(a) and 504 loans, as well as United States Department of Agriculture (USDA) loans. Meadows Bank is one of the top SBA lenders in the nation and is designated a PLP (Preferred Lender Program) lender by the SBA.
The SBA 7(a) Loan Guarantee program is one of the most popular loan programs offered by the agency and is the primary SBA loan program for providing financial assistance to small businesses. A 7(a) loan can be used for the acquisition, expansion or renovation of owner occupied commercial real estate, purchasing equipment, working capital, leasehold improvements, financing a franchise, acquiring a business, and debt refinancing.
The 504 Loan program is designed to provide financing for the purchase of fixed assets, which usually means commercial real estate or machinery and equipment with a useful life of at least ten years. The 504 program is an economic development program aimed at promoting growth and job creation; therefore it has job creation requirements dependent on the amount of funds received.
The USDA B&I Guaranteed Loan Program improves the economic health of rural communities by increasing access to business capital through loan guarantees that enable commercial lenders to provide affordable financing for eligible businesses in rural areas. Loan funds can be used for real estate acquisition (owner occupied or investor real estate), business acquisition, business expansion, equipment purchases, and debt refinancing when refinancing improves cash flow and creates or saves jobs for rural U.S. residents.
Meadows Bank has experienced loan officers dedicated solely to SBA and USDA lending to help guide you through the application process. We have SBA offices located in Nevada, Arizona, California, Colorado, Oregon, Texas and Utah. While focused in the Western United States, Meadows Bank can work with small businesses and provide SBA loans nationwide.
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