SBA Lending

SBA Lending

There’s nothing small about small business.

When you need a loan, you don’t need a hassle. The Palmetto Bank participates in the Small Business Administration Loan program, offering loans to companies who might not otherwise qualify for the credit facilities they might need. We have experts with experience in all facets of SBA lending, and our team will work with you to determine the type of loan that best fits your needs.

To learn more about SBA Lending at The Palmetto Bank, please contact Paul Pickhardt at 864.250.6075.

SBA (7a) Loan SBA 504 Loan
Loan Size $500,000 to $5 Million $500,000 to $12.5 Million
Loan Structure
  • Up to 90% financing
  • As little as 10% cash injection
  • 50% Bank Loan
  • 30% – 40% SBA 504 Loan
  • 10% – 20% Down Payment
SBA Guarantee
  • Loans with maturities greater than 12 months; up to 75% guarantee
  • 0% Bank Loan
  • 100% SBA 504 Loan
Interest Rates
  • Fixed, variable or combination
  • Fully amortized – No balloon
  • Index: Wall Street Journal Prime Rate
  • Maximum Rate: Index + 2.25% if maturity is < 7 years
  • Maximum Rate: Index + 2.75 if maturity is 7 years or more
  • Fix or variable on Bank Loan
  • Fixed on SBA 504 loan
  • Rate negotiated on Bank Loan
  • Rates on SBA 504 portion are set monthly at time of funding
Loan Term
  • Real Estate – up to 25 years
  • R/E Improvement – up to 25 years
  • Equipment – up to 15 years
  • Leaseholds – up to 10 years
  • Working Capital – up to 7 years
SBA 504 Loan:

  • Real Estate – 20 years
  • Equipment – 10 years

Bank Loan:

  • Real Estate – 25 years
  • Equipment – 15 years
Loan Proceeds Use
  • Purchase land and building
  • Construction, renovations or leasehold improvements
  • Furniture and fixtures
  • Machinery and equipment
  • Inventory and Working Capital
  • Refinance existing debt
  • Franchise financing
  • Acquire a business
  • Purchase existing building
  • Land acquisition and ground-up construction
  • Expansion of existing building
  • Building improvements
  • Equipment (no rolling stock)
Loan Fees
  • Vary based on loan size, guaranteed portion and qualification
  • Details to be further discussed with SBA team
  • Fees are negotiated for the 50% Bank Loan
  • Details to be further discussed with The Palmetto Bank
Job Creation None Manufacturers:

  • One new job must be created or retained for each of the $100,000 portion of the loan

All Other Industries:

  • One new job must be created or retained for each $50,000 of the SBA 504 portion of the loan