No lending institution is more committed to the local business community than Salem Five. As an SBA Preferred Lender, Salem Five streamlines the application and approval process, so your SBA loan is processed faster and more efficiently. In fact, when you apply at Salem Five for an SBA 7(a) loan, you'll have an answer on your approval within 36 hours. We give your business the attention it needs to grow and prosper.
How can an SBA loan from Salem Five help your business?
There are several types of SBA loans, the most common is the 7(a) Loan Guaranty Program. With a 7(a) loan you can start a new business, or strengthen your existing one through:
- Expanding or renovating facilities
- Purchasing machinery, equipment, fixtures and funding leasehold improvements
- Financing receivables and augmenting working capital
- Refinancing existing debt
- Purchasing major fixed assets such as land and buildings
Other types of SBA loans offered through Salem Five
In addition to 7(a), Salem Five offers other SBA Loans such as the 504 Certified Development Company Loan Program, a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for:
- Business district revitalization
- Expansion of exports
- Expansion of minority business development
- And other public policy goals
The SBA loan process is easy with Salem Five
Although your loan is administered by the SBA, your preferred lender program loan will be approved and serviced right here, locally at Salem Five. We will distribute the funds, and you make your payments directly to us. There will be no balloon payments. We can even tailor a repayment plan that's right for your business. It couldn't be any easier.
No matter what kind of SBA loan your business needs, you can count on Salem Five to streamline and simplify the process for you. In addition, you'll receive the unparalleled, personalized service and attention Salem Five delivers again and again to community businesses.
For a complete listing of the required SBA Loan documents, click button below:
Download SBA Forms
Application for Business Loan
SBA Form 1919
Request for Transcript of Tax Return (Business Verification)
SBA Form 4506-T
Statement of Personal History
SBA Form 912
Personal Financial Statement
SBA Form 413