Our Government Guaranteed Lending Division is a proud supporter and advocate of the Small Business Administration (SBA) loan programs aimed at stimulating small business growth throughout the United States. At Northpoint, we have experienced lenders committed to thinking outside the box in order to provide viable financing solutions for your business. Whether your business is acquiring equipment, another company, or commercial real estate, the 7(a) or 504 loan options are a smart way to finance your company’s expansion.
SBA 7(A) Loan
The proceeds are typically used to finance long and short-term assets used in the normal course of business. The 7(a) program typically deals with business acquisitions, equipment purchases, and/or other working capital needs.
SBA 504 Loan
The proceeds are typically used to finance long-term assets, such as owner-occupied commercial real estate or equipment.
No matter what kind of small business financing you’re looking for, Northpoint Commercial Credit can help. Our dedicated staff is on hand to advise you on the best equipment financing options for your company. Contact us today for more information and see how we can help.
|7(a) Loan||504 Loan: 1st Mortgage||504 Loan: 2nd Mortgage|
|Loan Amounts||As much as $5,000,000.||No Limits||
Public policy goal: $2,000,000
|Rate structure||Floating and fixed rates available.||Both fixed and adjustable rates are available||Fixed rates only.|
|Typical Loan Amortization||Amortization depends on the use of proceeds. Loan amortize from 7 to 25 years.||Loan provides a maximum amortization of 25 years.||Loan provides a maximum amortization of 20 years.|