Small Business Administration (SBA) Loans
Life needs big dreams. Life needs a plan to make those dreams happen.
Worked hard to build a successful business? You have earned the right to access the best lending products MainSource has to offer. With SBA loans, you can efficiently create an ultra-competitive lending solution that offers greater flexibility and options than the traditional commercial loan structures.
MainSource Bank is a designated Preferred (PLP) Lender with SBA. Our commercial banking and business banking teams are dedicated to helping your small business. We will help find the right program to fit your business dreams and goals.
Benefits of SBA Financing
- Lower payments with fixed or variable interest rates
- Lower equity requirements mean less out of pocket expense keeping more cash in your business
- Longer amortization - up to 25 years for real estate, 10 years for equipment, and 7 years for working capital
- No balloon payments
- First principal payment can be delayed up to 6 months
- Ability to finance more difficult projects and industries
MainSource Bank SBA Programs
- SBA Express - Loans for up to $350,000 for any eligible purpose. Fast turnaround, streamlined process and easy to use term and line of credit loans. No SBA fee on loans up to $150,000.
- SBA Veterans Advantage- Exclusively for veteran owned businesses. No SBA fees.
- 7(a) Term Loans - Loans up to $5 million to any eligible purpose including business acquisition or expansion, building or equipment purchases, leasehold improvements, inventory or working capital needs or refinances in certain circumstances. MainSource is a Preferred Lender with SBA approval authority in most situations for efficient approval.
- 504 Loans - Loans for long term fixed assets in partnerships with a Certified Development Company (CDC) licensed by SBA.
- CapLines - Commercial lines of credit up to $5 million to assist with short term working capital needs.
To learn more about the benefits of SBA loans, .