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Alert: New Omni Bank will be closed on Thursday, November 28, 2024, in observance of Thanksgiving Day.
SBA Loans
SBA Loans
Elevate your SME with custom SBA financing solutions.
At New Omni Bank, we’re proud to partner with the Small Business Administration (SBA) to offer specialized loan programs designed to help small businesses overcome the hurdles of traditional lending.
What is an SBA Loan?
As a Preferred SBA Lender, New Omni Bank provides:
Government-backed Security
Enjoy the assurance of loans supported by the SBA.
Affordable Financing
Benefit from lower down payments and manageable monthly outflows.
Rapid Processing
Quick approval and funding to keep your business momentum.
Adaptable Terms
Tailored to meet your specific business needs.
Efficient Procedures
A streamlined application to funding journey, making financing straightforward.
Overview of SBA 7(a) and SBA 504 Loan Programs
Feature
SBA 7(a) Loan1,2
SBA 504 Loan1,2
Ideal for
- Real estate purchase/refinancing (owner-occupied)
- Real estate construction (owner-occupied)
- Equipment purchase/refinancing
- Inventory purchase
- Business debt refinancing
- Tenant improvement or renovation
- Business acquisition
- General working capital
- Acquiring, building, or improving primarily owner-occupied real estate
- Long-term financing for heavy machinery or equipment
Loan Amount
Up to $5 million
- Bank: 50% financing
- SBA: 40% financing
- Borrower: 10% down payment
Interest Rate
Variable rate, tied to the WSJ Prime Rate plus a margin
- Bank Portion: Can be fixed or variable rate
- SBA Portion: Fixed rate
Terms
- Real Estate: Up to 25 years
- Non-Real Estate: Up to 10 years
Amortized up to 25 years with:
- SBA Portion: 25-year maturity
- Bank Portion: 10-year maturity
Recent Deals
Hotel Aquisition
$5,000,000
SBA 7(a)
San Gabriel, CA
- Credit products are subject to credit approval and program guidelines. Some restrictions and fees may apply.
- Small Business Administration (SBA) financing is available through the SBA 504 and SBA 7(a) programs, subject to approval. Terms, collateral, and documentation requirements are applicable. Final loan conditions, including amortization and rate, depend on credit approval. New Omni Bank’s credit standards, collateral requirements, and documentation requirements also apply. Additional restrictions may apply.
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Get in Touch.
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