Why SBA at Busey?

Whether growing, transitioning or launching a business, small business owners need the support and resources to do so successfully. Whatever your objective, a small business loan from the Small Business Administration, or SBA, is often the route to future growth.

The SBA is a government organization that guarantees portions of loans specifically designed to meet the key financing needs of small businesses by connecting small business entrepreneurs with lenders and funding. The SBA has provided in-depth guidance on business planning, start-up, management and exit strategies, along with services, useful tools and local resources.

What are the benefits of an SBA loan?

The SBA 7(a) program is specifically designed for small business owners and these loans provide many benefits, including:

• Longer repayment terms mean lower monthly payments, allowing business owners to free up necessary cash flow.
• Small business owners who could not qualify for loans conventionally are able to secure financing.
• Less restrictive collateral requirements, as the loan does not always need to be fully secured and minimal loan covenants.
• The wide range of loan terms is an attractive feature of SBA loans. Loan terms range anywhere from 10 to 25 years, depending on the use of proceeds.
• Most importantly, SBA loans provide an affordable way for small businesses to grow.

Why SBA at Busey?

Equipped with over 200 years of combined experience, Busey’s team of SBA lenders will guide you on identifying flexible financing options and help you to secure the best loan for your budding business. With a dedicated SBA 7(a) division that is a Preferred Lender (PLP), Busey helps you get down to business and promises the following:

• Fast approval
• Competitive rates
• A full suite of financial services, from depository services and cash management to personal wealth management and employee benefit programs
• Preparing your business for SBA financing
• Assisting with curating a strong business plan

Our team of SBA Lending Specialists have the skills, experience and knowledge to help you obtain the financing you need, no matter what challenges you face.

Contact us concerning your SBA lending needs today.