There are almost 600,000 small manufacturers in the U.S. according to the SBA, and if you’re one of them, you’ve likely thought about goals for your business’s future growth. If you need financing to achieve these goals, an SBA loan can be a great option. With an SBA loan through FNB Small Business Finance, you can have quicker access to the capital you need to take your business to the next level.
Here’s what you need to know about SBA loans for manufacturers:
Can be used to finance a variety of needs
- Do you have plans to buy a business, grow your current business, buy or construct commercial property, or need financing for new equipment? You can finance all of these through an SBA 7(a) or 504 loan! Additionally, we can consolidate multiple uses of funds into one loan, so you don’t have to apply for multiple loans for different projects.
Longer loan terms and lower down payments
- SBA loans can offer longer terms of up to 25 years, which can significantly reduce your monthly payment. Additionally, the equity injection required is often lower than that of conventional loans, allowing you to maintain cash flow in your business.
Flexible rate structures to manage rate volatility
- To ensure that your loan remains affordable both now and, in the future, we offer flexible rate structures that can be tailored to your budget. From 3- and 5-year fixed rates to quarterly variable rates, our team will work to find the best rate structure for you.
If you’re ready to learn more about SBA loans or the loan process, Contact one of our Business Development Officers today!
