SBA & USDA Loans

 SBA 7 (a), SBA 504 and USDA loans provide lenders with a government guarantee from 75% to 90% of your loan, mitigating the risk of lending, which makes this loan accessible to many more businesses.  In the world of Owner Occupied Commercial Real Estate, few loans can match these low rates and longer terms. And these programs aren’t just limited to purchasing Commercial Real Estate, but have also been made available for additional business purposes and uses.  Maximum SBA Loans is $5 Million and maximum USDA loans is $25 Million. 

SBA 7(a) Loans

With a government guarantee from 75% to 90% of your loan, this is one of the best loans available to Small Business Owners who have time for a six-week approval process. This loan can be utilized for:

  • Acquisition of Owner-Occupied CRE
  • Renovations and Additions to Owner Occupied CRE
  • Short and Long-Term Working Capital
  • Refinance Current Business Debt
  • Purchase Furniture, fixtures, and supplies
  • Acquisition or Expansion of a Business

Who is Eligible:

It varies slightly from industry to industry, but generally speaking, if your business meets these parameters, you may qualify:

  • Positive cash flow
  • Between 1 and 1500 employees
  • Less than $5 Million in revenue and
  • Your tangible net worth is less than $15 million

SBA 504 Loans

The SBA 504 Loan Program provides long-term, fixed rate financing of up to $5 million. Eligibility requirements are similar to the 7(a) loan, but the 504 can be used to promote business growth and job creation, including:

  • Existing buildings or land
  • New facilities
  • Long-term machinery and equipment. (no line space follows this)
  • Modernization of land, streets, utilities, parking lots and landscaping
  • Existing facilities

USDA Loans

This loan program also provides government guarantees to lenders, but is specifically for rural areas. If you qualify for this program and you want to increase business capacity, attract new customers, expand revenue sources, or reduce or restructure debt, Meridian can find the most flexible and competitive program to the table and provide your business with options.

  • Fixed and Variable Terms
  • Guarantees range from 60% to 90%
  • Funding from $1,000,000 to $25,000,000
  • Prime plus 2% or 3%

Some of the Projects and Industries Funded:

  • Wineries and Distilleries
  • Hospitality and Resorts
  • Manufacturing
  • Agriculture and Farming
  • Renewable Energy Project
  • Family Entertainment Centers
  • Healthcare Facilities
  • Oil & Gas

Financing Options