First National Bank
at Darlington 
"Your Hometown Independent Bank!"
2006 - Celebrating Over 70 Years as Your Community Bank

SBA Loans are guaranteed by the U.S. Small Business Administration (SBA) and offer longer terms and lower down payments than conventional term loans.    The SBA offers numerous loan programs to assist small businesses. It is important to note, however, that the SBA is primarily a guarantor of loans made by private and other institutions.

• PROGRAM: Basic 7(a) Loan Guaranty
  
  

• FUNCTION:  Serves as the SBA’s primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels. It is also the agency’s most flexible business loan program, since financing under this program can be guaranteed for a variety of general business purposes.

 

Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions). Loan maturity is up to 10 years for working capital and generally up to 25 years for fixed assets.

• CUSTOMER: Start-up and existing small businesses, commercial lending institutions
  
  

• DELIVERED THROUGH:  Commercial lending institutions