Grand Haven Bank, through its Government Guarantee Lending Division is a Preferred Lender with the U.S. Small Business Administration (SBA) guaranteed loan programs. As a Preferred Lender, we have the expertise and ability to expedite your SBA loan request.

With an SBA loan, your business can take advantage of longer repayment terms and higher borrowing limits. Qualifying criteria are generally more flexible than conventional loans.

Can you use an SBA loan?
If you have a growing business, SBA financing can help you to:

• Purchase or renovate real estate. Purchase or upgrade real estate to operate your business, construct a business facility or make improvements to an owner-occupied property.
• Purchase fixed assets. Includes assets such as heavy machinery or specialized equipment.
• Borrow working capital. Manage day-to-day cash flow and purchases.

SBA loans provide many advantages:

• SBA loans are typically easier to qualify for than conventional business loans
• Longer repayment terms provide lower monthly payments
• You can borrow up to 90% of the collateral's value
• Any applicable fees may be financed directly into the loan

SBA 7(a)
SBA 7(a) can provide funds for a variety of business purposes. Proceeds can be used to fund equipment purchases, business acquisitions or expansion, finance permanent working capital or purchase real estate.

SBA 504 Loan Program
Loan proceeds can be used to purchase real estate or equipment. These loans are generally designated for projects over $500,000.

Loan and Line Amounts
SBA 7(a) Program: Up to $2,000,000

SBA 504 Loan Program: Generally used for projects greater than $500,000

Annual Percentage Rate
Fixed or variable rates for loans. Variable rates for lines.

Interest Rate
SBA 7(a): Fixed rates are available for up to seven years. Variable rates are indexed to the Wall Street Journal Prime rate plus a margin.

SBA 504 Loan Program:
Fixed or variable rates are available depending upon the term of loan.

Fees
SBA fees, packaging fees, or origination fees may apply and will vary based upon the type and the term of the loan.

Repayment Terms
SBA 7(a): Working capital loans - up to 7 years. Equipment loans - up to 10 years. Real estate loans - up to 25 years.

SBA 504 Loan Program: Terms are typically from 10 to 20 years.