Small Business Administration (SBA) Lending
SBA loans are government-backed loans which offer small businesses flexible underwriting and favorable terms. As a preferred SBA lender since 1999, our SBA experts will help find the best loan for the needs of your business.
A Top SBA Lender in the Region
WSFS is honored to be named the #1 SBA Lender in Greater Philadelphia by the Philadelphia Business Journal.*
Key Benefits of SBA Loans
Easier Qualifications
Get qualified more easily than with a conventional loan.
Flexible Repayment
Fixed and variable repayments available up to 25 years.
Lower Down Payments
Keep money in your pocket with lower down payment requirements than conventional loans.
How to Apply for an SBA Loan or Line of Credit
Step 1: Consultation
Schedule a consultation with one of our SBA experts who will partner with you to determine the best SBA solution for the unique needs of your business.
Step 2: Complete an application
After a consultation, you will gather tax and business documentation to submit an application with the help of our SBA team.
Step 3: Get a decision and funding
After your application is reviewed by our SBA team, you will receive a decision and disbursements of the loan proceeds, if approved.
SBA Loan Comparison
There are different SBA loan solutions to support the needs of your business.
|
Sba 7(a)
|
Sba Express |
Sba 504
|
|---|---|---|
|
Variable or fixed term loan or line of credit |
Variable or fixed term loan or line of credit |
Variable or fixed term loan |
|
Maximum loan amount |
||
|
$5,000,000. The total SBA guarantee for any one borrower may not exceed $3,750,000. |
$500,000 |
$5,000,000 $5,500,000 for manufacturers |
|
Typical uses |
||
|
Business Expansion, Acquisition/Partner Buy-out, Franchise, Start-up, CRE, Working Capital, Equipment, Construction, Leasehold Improvements |
Working Capital, Small Equipment, Expansion |
Commercial Owner-Occupied RE, Construction/Major renovations, Large Equipment |
|
financing |
||
|
Provided through lender |
Provided through lender |
50% provided through lender, 40% through Certified Development Companies, 10% by the borrower* |
|
available loan terms |
||
|
Up to 25 years for CRE Up to 15 years – equipment with equal or greater useful life Up to 10 years – any other purpose |
10 years for lines of credit Up to 25 years for CRE Up to 15 years – equipment with equal or greater useful life Up to 10 years – any other purpose |
1st Bank Term – cannot balloon prior to 10 years – up to 25 years. CDC /SBA loan fixed up to 25 years based on purpose |
|
borrower equity contribution |
||
|
Minimum 10%- dependent on the purpose and credit worthiness – Buyouts may be 0% |
10% minimum |
10% minimum |
|
collateral requirement |
||
|
Business assets and/or real estate dependent on loan purpose |
Business assets and/or real estate dependent on loan purpose |
Business assets and/or real estate dependent on loan purpose |
*504 based on SBA portion of the loan
Meet the WSFS Small Business Team
Other Products That May be Right for You
Check out these related products.
Questions?
We’re here to help. Complete the form below to be contacted by a member of the WSFS SBA team.
Recent Articles
-
- Article
-
- Article
-
- Article
