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LOANS

SBA Loans

Small businesses have and will always continue to be the backbone of our community. At Pacific City Bank, we recognize the value that your small business provides to those around you and to us. We offer loans under the U. S. Small Business Administration 7(a) and 504 loan programs that will provide the financing you need to grow your business into a flourishing enterprise. As a member of the SBA Preferred Lender Program (PLP), we provide expertise and a streamlined process to help you meet all your small business needs.

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SBA 7(a) SBA 504
Use
  • Real estate purchase or refinance (minimum 51% owner-occupied)
  • Business acquisition or debt refinance
  • Equipment and machinery purchase
  • Working capital
  • Leasehold improvements
  • Real estate purchase (minimum 51% owner-occupied)
  • Purchase of fixed assets
  • Refinance of qualified debts
Benefits
  • Longer maturity compared to conventional business loans
  • Lower down payments on fixed assets
  • Easier qualification criteria compared to conventional business loans
  • Longer maturity compared to conventional business loans
  • Lower down payments on fixed assets
  • Easier qualification criteria compared to conventional business loans
Terms
  • Up to 25 years, fully amortized for real estate
  • Up to 10 years, fully amortized for other loans
  • First Loan - 10 years due / 25-year amortization
  • Second Loan - 20 years, fully amortized
Loan Amount
  • Up to $5 Million
  • Varies based upon bank lending limits
Prepayment Penalty (PPP)
  • No PPP on loans with maturity of less than 15 years
  • 3-year declining PPP (5%, 3%, 1%) on loans with maturity of 15 years or longer
  • 10-year declining PPP

For more information regarding SBA loan programs, visit the SBA website.
SBA logo and link

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