Which SBA Loan is right for you?

As a top national lender in SBA loans, BayFirst provides powerful lending solutions for your business, plus personal care and attention. As a direct lender, we can also save you money and ensure quick delivery of your funds to help you reach your goals faster. 

We offer two types of SBA loans to help you run and grow your business. Let us help you find the right loan.

Discover big ways SBA 7(a) and SBA 504 loans can benefit your business.

  SBA 7(a) Loans SBA 504 Loans
Loan Amount Up to $5 million

Up to $5 million on the SBA portion.

However, if a building is working towards “Green Certification,” loans can be larger.
Common Uses of Loan
  • Business & real estate acquisition
  • New construction and renovations
  • Initial working capital, inventory soft cost and closing costs
  • Buy new equipment
  • Partner buy-out
  • Refinance existing business debt
  • Acquisition of an existing building
  • Building expansion or renovations
  • Equipment
  • Fixed assets from business acquisition
  • Land and new construction
Terms of Loan
  • Real estate: up to 25 years
  • Non-real estate debt: up to 10 years
  • Term can be blended if the debt includes both real estate and non-real estate debt
  • Real estate: 25 years
  • Equipment: up to 20 years
    (assuming capital equipment is new or supported by an appraiser confirming the useful life of the assets)
  • Mixed-use loans can have blended terms, but typically the longest term is used based on the largest use of proceeds as a percentage of the loan.
Interest Rate Variable and fixed rate options available Variable and fixed rate options available
Loan Fees
  • The SBA Guarantee fee ranges from 2.77% to 3.75% of the guaranteed portion of the loan
  • Other fees include packaging fees, third party reports, lien filings, title charges, etc. (closing fees can be incorporated into the loan)
  • 2%-4% of total financing
  • Other fees include packaging fees, third party reports, lien filings, title charges, etc. (closing fees can be incorporated into the loan)

Why BayFirst?

We are SBA loan experts and expeditors. Our advanced technology, streamlined process and Preferred Lender status allow us to deliver your funds quickly, and our team provides the personalized service you deserve. We specialize in SBA loans under $350,000—often delivered within 10 days of a applying—as well as SBA loans up to $5 million to power your business.

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SBA Loans FAQ

SBA 7(a) loans can be used on a variety of business expenses whereas 504 loans have more specific requirements. Your lender can help you best assess which is right for your needs.

It depends on a few factors, but CreditBench’s expedited process could allow you to get funds as early as 10 days from the application completion date.

SBA funds are very flexible, meaning you can use them for a variety of business expenses including remodeling, increasing cash flow, purchasing merchandise and more. For more uses for SBA 7(a) loans, specifically, visit our blog.

Have More Questions?

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