PRODUCTS

7(a) Loans
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 maturities range from 7 to 10 years for business loans, and generally up to 25 years for owner occupied commercial real estate loans.

Interest rates are based at a percentage over the Wall Street Journal Prime Rate of Interest and the interest rate will adjust with changes in the Prime Rate.

504 Loans
Proceeds must be used for fixed asset projects such as: purchasing existing buildings; modernizing, renovating or converting newly purchased facilities which can include grading, street improvements, utilities, parking lots and landscaping; and construction of new facilities. All real estate must be owner occupied. Program can also be used to purchase machinery and equipment if the economic life of the asset exceeds 15 years.

Interest rates on 504 loans are based on the current market rate for five year and 10 year U.S. Treasury issues or other indexes. Maturities up to 20 years are available.

The 504 Program cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing..

TESTIMONIALS

The Lending staff at Seacoast Commerce Bank was very knowledgeable in SBA financing and guided me through a very streamlined process. I would recommend Seacoast Commerce Bank to any small business looking to purchase a commercial building or finance new expansion.

D. Rector
Rector Equipment Rentals
El Cajon, California