BUSINESS SUCCESS STARTS WITH THE RIGHT SOLUTIONS!
Fortune Bank works with the Small Business Administration to provide loans to small businesses. SBA loans are backed by the government which reduces the risk for Fortune Bank and allows us to make loans that wouldn’t be able to go through the conventional financing process.
Benefits of SBA Loan
- Low Down Payments – as low as 10% down
- Longer Loan Terms – Up to 25 years
- Lower Monthly Payments
- More Flexible Collateral Requirements
- No Balloon Payments
- No Prepayment Penalty on loans under 15 year terms
Eligibility Requirements
- For-profit business
- Located in the U.S.
- Owned at least 51% by a U.S. citizen
- Reasonable ownership equity invested or available to be invested
- Occupancy requirements:
- New construction – 60% upon completion and 80% within 10 years
- Existing building – 51% owner-occupied - Owners of 20% or more must guarantee the SBA loan
Uses of SBA Loan Funds
- Start-Up Businesses
- Franchise Businesses – Start-Up and Acquisition
- Business Acquisition / Partner Buyouts
- Owner-Occupied Real Estate Financing
- Construction / Leasehold Improvements
- To learn more on the construction process, click here.
- Business Expansion – Purchase Equipment, Inventory, Working Capital, etc.
- Refinance Existing Debt
- International Trade Loans
- Combination of all the above
For more information please contact our SBA Lending Team:
MISSOURI – St. Louis
Carolyn K. Gegg
VP of SBA Lending
Cell Phone: (636) 628-0944
Email: contact@MyFortuneTeam.com
KANSAS- Kansas City
Patricia Case
VP of SBA Lending
Phone: 816-337-2421
Email: contact@MyFortuneTeam.com
INDIANA – Indianapolis
Joseph Reynolds
VP of SBA Lending
Phone: 317-506-7556
Email: contact@MyFortuneTeam.com
