Financing that meets your business needs.
Wherever your business is today, and whatever your goals are for tomorrow, we're here for you.
United Bank of Union Small Business Lending
At United Bank of Union, we work hard for you, so that you can focus on what matters most - running and building your business. We understand that small businesses have big needs, which is why we have loan officers dedicated to helping you manage and grow your business through a variety of commercial lending options including Small Business Administration (SBA) loans and conventional business loans.
SBA 7(a) Loan
This versatile loan program is ideal for a wide range of business needs, whether you’re looking to expand your operations, acquire another business, manage cash flow or consolidate existing debt.
Who Qualifies
For-profit businesses operating in the U.S. Small businesses as defined by the SBA You, as the business owner, have invested your own time and money and are creditworthy, with demonstrated ability to repay the loanUses of Funds
A 7(a) loan can be a good fit for growing and well-established businesses looking for term loans to finance:
Acquiring, refinancing, or improving real estate and buildings Short- and long-term working capital Refinancing and consolidating current business debt Purchasing of machinery/equipment, furniture, and fixtures Changes of ownership (complete or partial)Benefits
Flexible and affordable uses for funds Competitive interest rates and low down payment requirements Long repayment terms for lower monthly payments Higher approval rates due to government guaranteeSBA 504 Loan
This program is specifically designed to support the long-term growth of established businesses with commercial real estate and/or heavy machinery needs.
Who Qualifies
For-profit businesses operating in the U.S. or its possessions Business has a tangible net worth < $20 million Business has an average net income < $6.5 million after federal income taxes for the two years preceding your applicationUses of Funds
A 504 loan can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of:
Existing buildings or land New facilities The modernization of existing facilities The modernization or improvement of landscaping The improvement of land, streets, utilities, and parking lotsBenefits
Low down payment requirements Long-term, fixed-rate financing for real estate and equipment Optional inclusion of "soft costs" in the loan amount These features help businesses conserve working capital, lower overall costs, and achieve stable monthly payments on their assets, promoting long-term growth.
Real Businesses. Real Success.
UBU Small Business Financing has provided SBA loan assistance to a variety of business entities with a broad range of financial needs. Here is a list of businesses we have assisted in achieving their goals.
funded $6,800,000 for the purchase and renovation of a hotel in the st. louis area | UTILIZING SBA FINANCING ALLOWED the business to SECURE LONG-TERM FINANCING AT REDUCED RATES
funded $400,000 to a local restaurant using the sba 7(a) program to purchase their building and reimburse leasehold improvement costs
funded $70,000 to a home healthcare business for working capital expenses to aid in their expansion in the franklin county area
funded $611,000 to a machine tool manufacturing business to purchase and install new equipment allowing them to expand their services
funded $610,000 to a franchise owner allowing them to consolidate multiple loans and provide working capital to hire and train more employees
Introducing Our SBA Specialist
Find out if an SBA loan is right for your business by contacting us today!
Scott Elliott
Vice President Commercial Lending
636-583-9009
NMLS 581272
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SBA Loan FAQs
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WHAT IS THE SBA?
SBA stands for U.S. Small Business Administration, a government agency that provides support and resources for entrepreneurs and small businesses.
WHY SHOULD I CHOOSE AN SBA LOAN?
SBA loans often require less borrower equity. SBA loans can greatly benefit small businesses that need capital for a start-up, expansion, inventory, buildings, equipment, exporting and other needs. Terms are typically longer than conventional commercial loans, especially in situations involving real estate.
IS MY PROJECT ELIGIBLE FOR AN SBA LOAN?
To be eligible for an SBA loan, a business must be for-profit, operate within the United States or its territories, have reasonable owner equity to invest, and use alternative financial resources, including personal assets, before seeking financial assistance. To learn more about eligibility requirements for a specific loan program, give us a call!
HOW MUCH TIME IS INVOLVED IN THE FINANCING PROCESS?
United Bank of Union understands you’re busy and we’re committed to making your financing a simple process. Loans are approved with speed and precision. The time needed to process and complete a loan can vary significantly, ranging from 45 days to six months or even longer, depending on the completeness of information, third-party reports, and processing times.
how can i use the funds from my loan?
You name it. All types of business-related costs can be included in your SBA financing request. These costs include: start-up, acquisition, remodel, expansion, succession, real estate purchase, construction, equipment, leasehold improvements, inventory, working capital, franchise fees and debt refinance.
All offers of credit are subject to credit approval. Program information is subject to change based on updates from The Small Business Administration. Borrowers are responsible for any closing costs and bank fees, including but not limited to appraisal, environmental, title, escrow, documentation, and packaging fees. Interest Rates are subject to change.