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Small Business Loans

Don't let your young company stay the underdog. At American Bank, we offer federally guaranteed Small Business Administration (SBA) loans to give start-ups and local businesses a chance to succeed.

We are one of the most active SBA lenders in the Northeastern Minnesota area. SBA loans provide attractive interest rates, longer repayment terms, and lower down payments for qualifying businesses. Let us show you how an SBA loan can help you.

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Summary

Better interest rates
Longer repayment terms
Lower down payments
Local processing and underwriting
Personal service
Experienced loan professionals

SBA Loan Options

We offer two kinds of SBA loans:

7(a) Loan Guarantee Program

The 7(a) Loan Guaranty Program is one of SBA's primary lending programs. It provides small businesses financing up to $2 million with longer repayment terms. Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process; but management quality, collateral, and owner's equity contribution are also important considerations.

504 Certified Development Company Loan Program

The 504 Loan Program provides long-term, fixed rate financing for major capital expenditures. This program is typically used to fund projects such as land and building acquisition or improvements.

To learn more about SBA loans, contact one of our loan professionals, or visit http://www.sba.gov.