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Bank of North Carolina. The place to be...for all the right reasons.

SBA Lending

As an SBA Preferred Lender, Bank of North Carolina is ready to help your business grow with Small Business Administration (SBA) loans. Whether you are starting your own business, purchasing equipment, building, renovating or purchasing commercial real estate, we are ready to assist you with the financing your business needs to succeed.

48-HOUR TURNAROUND ON PRE-QUALIFICATIONS**
Bank of North Carolina can provide a proposal within two business days. Contact our SBA Team to discuss your growing business.

Meet Our SBA Team

  • Stan Lamb, VP Business Development Officer
    Stan Lamb
    VP Business
    Development Officer
    (803) 984-4121
    Email Stan
  • John Bickley, VP Business Development Officer
    John Bickley
    VP Business
    Development Officer
    (864) 312-4113
    Email John

 

SBA (7a) LOAN

SBA 504 LOAN

Loan Size

  • Up to $5,000,000
  • $125,000 to $10,000,000 +

Loan Structure

  • 80% - 90% Bank Loan
  • 10% - 20% Down Payment
  • 50% Bank Loan
  • 30% - 40% CDC Loan
  • 10% - 20% Down Payment

SBA Guarantee

  • Loans with maturities greater than 12 months; up to 75% guarantee
  • Loans with maturities less than 12 months; up to 75% guarantee
  • 0% Bank Loan
  • 100% CDC Loan

Interest Rates

  • Fixed Variable, or Combination
  • Fully Amortized - No Balloon
  • Index: WSJ Prime, 10 Year Treasury Index
  • Maximum rate: Index +2.25% if maturity is < 7 years
  • Maximum rate: Index +2.75% if maturity is 7 years or more
  • For loans: – $25,001 – $50,000 + 1.00% – $25,000 or less + 2.00%
  • Fix or Variable on Bank Loan
    Fixed on the CDC Loan
    Rate negotiated on Bank Loan
    Rates on CDC portion are set monthly at the time of funding

Loan Term

  • Real Estate — up to 25 years
  • R/E improvements — up to 25 years
  • Equipment — up to 15 years
  • Leaseholds — up to 10 years
  • Working Capital — up to 7 years
CDC Loan:
  • Real Estate - 20 years
  • Equipment - 10 years
Bank Loan:
  • Real Estate - 10 years
  • Equipment - 7 years

Loan Proceeds Use

  • Purchase Land & Building
  • Construction, Renovations, or Leasehold improvements
  • Furniture and Fixtures
  • Machinery and Equipment
  • Inventory and Working Capital
  • Refinance Existing Debt

 

  • Purchase Existing Building
  • Land Aquisition and Ground-Up Construction
  • Expansion of Existing Building
  • Building Improvements
  • Equipment (no rolling stock)

 

Loan Fees

  • Vary based on loan size, guaranteed portion and qualification
  • See SBA manager for details
  • Fees are negotiated for the 50% Bank Loan
  • See your local CDC for current fee structure

Job Creation

  • None
Manufacturers:
  • One new job must be created or retained for each $100,000 of the CDC portion of the loan
All other Industries:
  • One new job must be created or retained for each $50,000 of the CDC portion of the loan

 

SBA 7(a) Loanb Program.

PROGRAM HIGHLIGHTS

  • Complete financing*
  • Fully amortized loans; no call dates
  • 3 year prepay

Use of Funds

  • Purchase, construction or renovation of commercial
  • real estate for owner-users
  • Purchase of equipment
  • Working capital and inventory
  • Business buy-outs
  • Financing for franchises
  • Some refinancing of existing debt

Loan Amount

  • Up to 5,000,000

Terms

  • Up to 25 years, depending on use of funds and repayment ability

Interest Rate

  • Call for current rate

Fee

  • Vary based on loan size, guaranteed portion and qualification

Prequalification

  • Prequalification service available at no cost to applicant
SBA 504 Loan Program.

PROGRAM HIGHLIGHTS

  • Long-term, below-market fixed rates
  • Low down payment conserves working capital
  • Option to finance soft costs
  • Out-of-pocket fees minimized

Use of Funds

  • Buy, build or renovate commercial and industrial real estate
  • Buy and install heavy-duty equipment and machinery
  • Cover related soft costs such as surveys and appraisals

Loan Amount

  • Up to 5,000,000 on SBA's portion
  • Up to 10,000,000 total loan request with bank's portion

Terms

  • Up to 20 years on SBA's portion, depending on use of funds
  • Up to 20 year amortization with 10 year call on bank's portion, depending on use of funds

Interest Rate

  • Call for current rates

Fee

  • Varies based on loan size

Prequalification

  • Prequalification service available at no cost to applicant
CRE Acquisition/Construction/Improvement/Refinance

CRE Acquisition/Construction/Improvement/Refinance

Loan Size

  • Up to $5.0 million

Advance Rate

  • Complete financing available*

Loan-to-Value

  • General purpose, up to 90%

Term

  • Up to 25 years, fully amortized*

Collateral

  • First lien on assets financed

Guarantees

  • Personal and corporate guarantees of all significant owner/principals

Prepayment Penalties

  • Vary depending upon loan program

Rates/Fees

  • Vary based on loan size, guaranteed portion and qualification
Promote Your Property with Convenient Marketing Resources

PROMOTE YOUR PROPERTY
with Convenient Marketing Resources

At Bank of North Carolina we have designed a wide-array of services to help showcase your properties. Our committed SBA professionals will work with you step by step to market your property. We can create what you need to advertise your property from customized signage to co-branded marketing materials to financing scenarios.

ATTRACTIVE SIGNAGE

TO DRAW ATTENTION TO YOUR PROPERTY
Increase visibility on your properties with complimentary signage to show potential buyers that financing may be available with little money down.

CO-BRANDED MARKETING MATERIALS

Bank of North Carolina has the resources you need to market your properties at no cost to the seller or broker! Professional printed flyers, mailers and handouts can all be co-branded with your logo, property and contact information.

PURCHASE SCENARIOS FOR POTENTIAL BUYERS

Make it easier for your customers with a proposed purchase scenario developed by Bank of North Carolina's SBA Manager. This complimentary scenario will give potential buyers the opportunity to see estimated monthly payments, fees, closing costs as well as other requirements.

48-HOUR TURNAROUND ON PRE-QUALIFICATIONS**

Bank of North Carolina can provide you with a proposal within two business days. We realize buyers need to know how much they qualify for when considering SBA financing. All loans are subject to formal approval upon receipt of a complete loan package. For more information on our services for Commercial Real Estate
Brokers and Developers please contact David White at 919.475.6452.

**Subject to SBA eligibility, credit review and approval. Depository relationship required. For business purpose loans only. Customer pays out-of-pocket expenses.

 

*SBA loans from Bank of North Carolina are in participation with the United States Small Business Administration. Loans are subject to approval in accordance with SBA and Bank eligibility and lending guidelines. Other lending programs are available.

**Subject to SBA eligibility, credit review and approval. Depository relationship required. For business purpose loans only. Customer pays out-of-pocket expenses.

 

 

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