SBA Loans

SBA Loan Program
The Small Business Loan Program at First Merchants Financial Services is an excellent source of financing for most businesses. First Merchants Financial Services has been designated as a Preferred Financial services company by Perferred SBA lenders to have loans processed more quickly and efficiently. This designation means that the SBA has delegated the approval process to our lenders, which means fast and efficient processing of your SBA loan.
COMMERCIAL/INDUSTRIAL REAL-ESTATE FINANCING
Purchase - Build - Refinance - Renovate - Owner-occupied

Non-conforming properties
Single-purpose buildings
Gas stations
Restaurants
Repair Shops
Auto Dealerships
Hotels and motels
Convalescent hospitals
Veterinary
 
EXISTING BUSINESS ACQUISITION LOANS

Your company's cash flow & management capabilities are our primary indicators
Up to $1.25 million a year
Up to 15-year term
Up to 80% financing
Loans fully amortized, no balloons
No pre-payment penalty
48 hour pre-qualification

EQUIPMENT FINANCING

Commercial printing and binding
Machine tools
Manufacturing Equipment
Heavy Equipment
Trucking
Medical Equipment
Laundry/dry cleaning
Diagnostic Equipment

LOANS UP TO $5 MILLION

No cost pre-qualification letters
Competitive rates and flexible terms
No pre-payment penalties
Up to 90% financing
Up to 25-year terms
Fully amortized
Fixed and variable rate options on both 7a and 504 programs

7(a) Loan Program

We specialize in providing long-term permanent financing to small businesses. Our loans, including the 7(a) Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Eligible Businesses and Property Types

Almost any type of for-profit business is eligible for financing. Commercial real-estate must be partially occupied by borrower and includes, but is not limited to, the following types of properties:
Office Buildings
Warehouses
Industrial Buildings
Manufacturing
Child Care Facilities
Car Wash Facilities
Automotive Repair
Shops
Professional Buildings
Hotels and Motels
Restaurants
Gas Stations
Bed and Breakfasts
Franchises
Start-ups
Single-Use Buildings

Eligibility based on SBA size standards. Typically, retail businesses with annual sales of less than $6,000,000, manufacturing business with less than 500 employees, and service businesses with less than 100 employees. Eligible businesses include those in retail, manufacturing, and services industries.

Use of Proceeds:

Real-estate acquisition, construction, or refinance - up to 90% financing available
Business Acquisition - up to 80% financing available
Equipment Acquisition - up to 100% financing available
Debt Refinance -up to 100% financing available

Terms
Up to 25 years for real-estate financing
Up to 10 years for equipment or business acquisition financing
Up to 7 years for permanent working capital
All loans are fully amortized.

Interest Rates and Fees
Interest rates are always market competitive. Fees are generally limited to the SBA guaranty fee and customary closing costs.
Loan Amounts
Loan amounts range from $200,000 to $5,000,000
504 Loan Program
We specialize in providing long term permanent financing to small businesses. Our loans, including the 504 Loan Program, are made through the Small Business Administration (SBA) guaranteed loan programs.

Use of Proceeds

Real-estate acquisition, construction, or refinance - up to 90% financing available
Equipment Acquisition - up to 80% financing available
Loan Structures
Financing available on projects up to $12,000,000.

1. First Merchants Financial Services typically provides a first mortgage of up to 50% of the total loan-to-value. This loan can range from $100,000 to $3,000,000.

2. The SBA, through a Community Development Company (CDC) provides up to 40% loan-to-value in a second lien position. This loan can range from $100,000 to $5,000,000.

Terms and Interest Rates

First Mortgage - up to 25-year term for real-estate loan and up to 15-year term for equipment purchase with fixed and variable interest rates available.

Second Mortgage - up to 20-year term for real-estate and up to 15-year term for equipment purchase. Fixed rate is determined at SBA guaranteed 504 debenture sale.

Fees

First Mortgage - fees are always market competitive.

Second Mortgage - 2.75% + legal review fee. This fee is financed in the loan.

Fees also include customary closing costs, construction loan fees (if applicable), and bridge fees.

Eligible Properties

Almost any type of for-profit business is eligible for financing. Commercial real-estate must be partially occupied by the borrower.
Do you need a new or larger location for your small business, we have partnered with LMH Commercial to help you reach your goals. Click Below for more information and to be taken to their website.
LMH Commercial

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