Many business owners struggle to find the capital to expand, buy equipment, and acquire or construct commercial real estate when needed. United Bank is a qualified partner with the Small Business Administration (SBA) and the US Department of Agriculture (USDA), and provides loans under their programs. The SBA 7a loan, the SBA 504 loan, and the USDA Business & Industry loan have varying loan amounts, qualifications and benefits. Let our experts help you find the loan that is best for you and your growing business.
United Bank operates in the middle Georgia market and provides loans to borrowers living in or operating a business in the counties displayed on the map at right.Apply now and get the process started.*
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See below for how the different programs compare.
* Subject to credit approval and underwriting guidelines
SBA 7(a)
Program
This loan program partially guarantees loans
from $100,000 up to $5 million to eligible small businesses.
Benefits to the Borrower
- 10 to 25 year terms, fully amortized
- Lower down payment requirements, with no balloon payments
- Flexible use of proceeds
Eligible Projects
- Working capital, acquisitions, expansions or start-ups
- Commercial real estate purchase, including land and buildings
- Purchase inventory, equipment, furniture, fixtures or supplies
- Refinance an existing business debt (under certain conditions)
Qualifications
- Must be considered a small business using the SBA size requirements
- Requires a sound and feasible business plan
SBA 504
Program
This loan program funds long-term, fixed-asset loans from $250,000 up to $5.5 million in conjunction with Certified Development Companies (CDC), licensed by the SBA.
Benefits to the Borrower
- 10 to 25 year terms
- Up to 90% financing of total project cost
- Fixed and variable rates
Eligible Projects
- Acquisition, construction and improvements to commercial real estate
- Purchase machinery and equipment
- Refinance an existing business debt (under certain conditions)
Qualifications
- Purpose and use of loan proceeds must create or retain local jobs
USDA Business &
Industry Program
This loan program funds business projects
in eligible rural areas from $250,000 to
$25 million
Benefits to the Borrower
- 7 to 30 year terms, fully amortizing
- Fixed and variable rates
Eligible Projects
- Business conversion, expansion, repair and modernization
- Purchase and development of land and buildings, purchase of machinery and equipment, supplies or inventory
- Debt refinancing to improve cash flow and create jobs
Qualifications
- Be in eligible rural area as defined by the USDA
- Businesses with facilities located in rural areas that save or create jobs
- Includes partnerships, individuals, cooperatives and non-profit businesses
- Manufacturing, wholesale, retail, and service industries
SBA and USDA business loan programs are designed to promote economic growth and create new jobs in our communities. United Bank lenders are available to assist you in evaluating which program offers the most for your borrowing needs. Complete our secure contact form and we'll reach out to begin the conversation.
United Bank also provides conventional business loans and business credit cards. Business customers also enjoy the conveniences of Merchant Card Payment Processing, Cash Management tools and other ancillary services. Email us at bizbanking@unitedbank.net to learn more.
Note: Effective January 1, 2024, many companies in the United States must report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury. Learn more.
