There is no better time than now to grow your business through an SBA 7(a) Loan!
The latest coronavirus relief bill has temporarily changed SBA 7(a) Loan Program features to assist borrowers and the window to take advantage of these benefits is set to expire on September 30, 2021. West Town Bank & Trust is here to help you every step of the way with working capital, equipment, business acquisition, and debt refinancing lending needs to help grow your business through the SBA 7(a) Loan Program.
How Does Your Business Benefit through SBA 7(a) Program Financing?
- *Fee Waivers – Guarantee fees made to the SBA have been completely waived on any new 7(a) loans approved between February 15 and September 30, 2021. This includes the up-front guarantee paid by the borrower.
- *Covered P&I Payments – For new 7(a) loans approved between February 1 and September 30, 2021, the SBA will make monthly principal and interest payments up to $9,000 on eligible transactions.
- Long Repayment Terms – The SBA 7(a) Loan Program offers fully amortizing terms up to 10 years on non-real estate transactions. Longer maturities result in drastically lower monthly payments and conservation of cash flow.
*Temporary SBA 7(a) Loan Program benefits set to expire on September 30, 2021
Why Partner with West Town Bank & Trust for Your SBA Lending Needs?
- Program Experience – West Town Bank & Trust has closed 500+ government-backed loans across 150+ industries in nearly all 50 states and has a team of experts ready to help at your fingertips.
- Streamlined Processes – West Town Bank & Trust has preferred lenders status (PLP) through the SBA and utilizes a streamlined technology enabled loan application to secure loan approval within days.
“Working with West Town Bank was an incredible experience. They presented options other lenders didn’t, which really made me feel confident about the product we used and the decision to buy. The team was there keeping me updated throughout the process and have been a great resource when needed after closing. They couldn’t have handled things better and I would highly recommend them to anyone.”
– Doug Yopp, Owner, North Carolina Realty Agency