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SBA Government Loans

Perfect for your small business needs

Members Choice Credit Union offers financing backed by the U.S. Small Business Administration (SBA) for its members who own small businesses.
 
 
 
 
  • Available for long term financing of owner-occupied small business real estate
  • Also available for business acquisitions, partner buyouts, debt consolidation, refinancing, and business expansion
  • Loan amounts up to $5 million
  • Repayment monthly for up to 25 years on select real estate loans
  • Minimum 10-20% down payment requirement for real estate and business acquisition financing
  • Competitive interest rates

Ready to get started?

 
 
Or call us at 281.754.1398 to ask questions or start a loan application by phone.
 
 
 

FAQs about SBA Government Loans

Participating lenders, such as Members Choice Credit Union, commercial banks, and licensed nonbank lenders, originate loans up to $5 million per small business borrower. These loans have an 85% government guarantee to the lender for loans up to $150,000, and a 75% government guarantee for loans over $150,000. The partial government guaranty reduces the credit risk to the lender, so loans can be granted with lower down payment requirements, longer repayment terms, and easier qualifying criteria than conventional bank loans.
Businesses that fit the SBA definition of a small business are eligible for the loan program. In general, privately-owned, for-profit businesses, which are not publicly owned or considered a middle-market business, are eligible for SBA financing.
Loan proceeds from the SBA government-guaranteed SBA 7(a) loan program can be used for any legitimate business purpose. Uses of SBA loan funds may include:
 
  • Purchase small business real estate in which the business will occupy the majority of the space.
  • Construct new small business facilities.
  • Purchase new machinery, equipment, and furnishings for the small business.
  • Provide working capital for growth and expansion.
  • Refinance existing non-SBA small business loan for a lower interest rate or longer repayment term.
  • Purchase an existing small business.
  • Buy out a partner in a small business.
 
 
 
 
 
 
 

Business Loan Resources

Amortizing Loan Calculator

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Loan & Credit Line Payment Calculator

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Line of Credit Payoff

Find out what it takes to pay off a line of credit. Run the Numbers

Explore Different Loan Options

Short-Term Line of Credit

Offers flexibility and can be used for whatever you need. Learn More our Line of Credit
 

Commercial Real Estate Loans

Purchase, refinance, or construct your expanding owner-occupied office facility. Learn More Commercial Loans
 

Equipment Loans

Acquire, replace or upgrade your equipment or vehicles. Learn More our Equipment Loans

SBA Government Loans

Ideal for small businesses who need an affordable loan but may not have good enough credit other options. Learn More About our SBA Loans

Disclosures

If not currently a Members Choice member, a $5 deposit is needed to establish membership. All memberships and credit products are subject to approval including credit approval. All SBA loans and lines of credit subject to SBA product, collateral and underwriting requirements, and approval.
Loans and other products are subject to definitive agreements. Business Loans are those loans that are for commercial use and any property and/or proceeds from the proposed request will be used by the requestor for commercial purposes only and not for any personal, family or household purposes, and that the proposed request would constitute a business loan which is exempted from the disclosure requirements of the Truth in Lending Act.