SBA / USDA

Utilizing Government Guarantee Loan Programs


In adding the SBA and USDA products to its traditional commercial loan offerings, Gulfside Bank is able to expand its reach throughout the community by supporting businesses that would not normally qualify for conventional loans under the bank’s traditional lending guidelines. This would include new franchises, startup businesses, business acquisitions with limited collateral, or companies recovering from COVID-19 or other events that require re-capitalization of the balance sheet.

 

SBA 7(a) Loan Guarantee Program


Eligible businesses are operating companies including retailers, wholesalers, service companies, and manufacturers among others. Investment real estate companies or companies that derive more than half of their income from the collection of interest are not eligible.

SBA 7(a) Loan Benefits to the Borrower:

  • Low or no down payments;
  • Long term amortizations up to 10 years for equipment, working capital, and leasehold improvements.
  • Real estate amortizations up to 25 years.
  • Ability to blend and extend amortizations by incorporating real estate purchases or refinances with
    working capital, equipment, or other shorter term financing needs reducing the impact to cash flow;
  • Business acquisitions with limited collateral to support the transaction;
  • No balloon payments.

USDA B&I Loan Guarantee Program

 
Eligible businesses include retailers, wholesalers, service companies, manufacturers, commercial development, hotels, landfills and waste management, RV Parks, private and charter schools, nurseries, self storage, and medical facilities. Eligibility is based on the B&I rural market maps. To see if your project qualifies you can check the USDA eligibility maps online.
 
USDA B&I Loan Benefits to the Borrower:

  • Long term amortizations of equipment up to its useful life, with a maximum of 15 years;
  • Amortizations up to 10 years for working capital and leasehold improvements;
  • Real estate amortizations up to 40 years;
  • Ability to blend and extend amortizations by incorporating real estate purchases or refinances with
    working capital, equipment, or other shorter term financing needs, reducing the impact to cash flow;
  • Long term fixed interest rates;
  • No balloon payments.