SBA Loans

Wilson & Muir offers a variety of loan programs guaranteed by the Small Business Administration.  These government-backed loans allow businesses, who may not qualify for bank financing, a number of options for funding start up costs, equipment financing, inventory, real estate, construction,  and many other costs associated with business growth.

7a LOANS

• Maximum loan amount $2,000,000
• Maturity – Generally 5 – 10 years for working capital, machinery & equipment; up to 25 years for construction, real estate

CAPLines

• Short-term & revolving lines of credit similar to the  7a Loans except the CAPLines are  used to finance seasonal working capital needs
• Maturity – up to 5 years

504 Loans

• Maximum loan amount ranges from $1,500,000 to $4,000,000 depending on the project
• Long-term fixed asset loans provided through Certified Development Companies, which are licensed by the SBA
• Maturity – 504 Loan: 10 or 20 year term; Lender financing may have a shorter term

In 2007, Wilson & Muir was approved to offer three new SBA Loan Guaranty Programs:  SBA Express; Community Express and Patriot Express.   These products can be either term loans or lines of credit and approval may be obtained within 24 hours.

Community Express

• For businesses located in low or moderate income rural or urban areas; or, owned by a minority, woman, or veteran.
• $250,000 Maximum Loan amount; Loans $25,000 or less may be unsecured
• Technical assistance must be provided to the applicant through an approved Technical Assistance advisor (i.e. Small Business Development Centers & SCORE).  This is a free service to the applicant and is particularly beneficial to a start-up company.

SBA Express

• $350,000 maximum loan amount
• Maturities up to 7 years for revolving lines of credit, to 10 years for working capital, machinery and equipment and up to 25 years for construction and real estate.

Patriot Express

• Applicable to veterans, members of the military (active & reserves) and their spouses
• $500,000 maximum loan amount
• Maturities up to 7 years for revolving lines of credit, to 10 years for working capital, machinery and equipment and up to 25 years for construction and real estate.

Contact a loan officer at your local WMB office for more details: