As a proud preferred lender of the Small Business Administration (SBA), Rockland Trust strives to enable easier access to capital for the small businesses in our communities. Government-backed SBA loans feature:
It's important to be aware that every business is subject to SBA eligibility requirements and credit approval.
504
A fixed-rate term loan that can be used for financing long-term assets, primarily the purchase and/or construction of commercial real estate or machinery.
Key Benefit: Allows for as little as 10% down payment on most owner-occupied real estate purchases
7(a)
A term loan that can be applied towards a wide range of purposes, including working capital, asset acquisition, refinancing and business purchases. Interest rates may be fixed or variable.
Key Benefits: Flexible use of funds and longer repayment terms (as long as 10 years for non-real estate)
Express
Offered as either a term loan or a revolving line of credit, an Express Loan can be used for a range of purposes - much like the 7(a) Loan Program. Express Loans are underwritten directly by Rockland Trust for a faster approval.
Key Benefits: Flexible collateral guidelines and streamlined application
Eligibility requirements are the same as the 7(a).
*When compared to a traditional bank funded loan. Inquire with a banker to learn more.
**Maximum loan amount is $5 million or up to $5.5 million for certain energy related projects.
