Small Business (SBA) Loans
Fueling Growth for Your Business Dreams. Whether you’re expanding, acquiring new equipment, or securing commercial real estate, our SBA loans are designed to support your vision with flexible terms, lower down payments, and a simpler qualification process—empowering you to build and grow with confidence.
A Responsive Banking Partner to Help You Grow Your Business
Our dedicated SBA specialists support more than 10,000 businesses and nonprofits through loans, deposit accounts, and treasury management services. They are ready to provide game-changing assistance, applying years of experience to help you secure the funds you need.
Hakim Kassam, SVP / Director of SBA Lending – (954) 292-9293
SBA Loans with Midwest BankCentre
Please use the online applications for new SBA loan inquiries of $350,000 or more only. If you are looking for a smaller-sized SBA loan, please instead reach out to us directly at [email protected] and we will explore alternatives with you.
SBA 7(a) Loan
- Designed for businesses looking to acquire an existing business, buy-out a partner, expand to another location, purchase real estate or equipment, or those looking to combine any of these needs in one loan.
- Appropriate for longer-term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Terms are up to 25 years for commercial real estate and up to 10 years for all other purposes.
Interest rates can be either fixed or variable
SBA 504 Loan
- Designed for businesses looking to expand through land or building acquisition, construction, or equipment purchase.
- Appropriate for longer-term financing for businesses with net worth below $15 million and an average net income below $5 million.
- Loan amount is up to $7,000,000 for the Midwest BankCentre portion and up to $5,000,000 for the portion funded by a Certified Development Company.
- Terms are up to 25 years for commercial real estate and up to 10 years for machinery or equipment.
SBA Loan Interest rates can be either fixed or variable.
SBA 504 Loan for Real Estate
SBA 504 Loan for Equipment
Midwest BankCentre is proud to be an SBA Preferred Lender
- Preferred lenders have the ability and authority to approve small business loan requests in-house, without requesting approval from the SBA. This cuts the approval time drastically and offers a much more streamlined business process.
- Preferred lenders can offer loans that are guaranteed for up to 90 percent of $5 million. They offer borrowers who qualify more options, giving them greater freedom in their loan requests. These types of loan requests include purchasing or refinancing owner-occupied real estate, business acquisition loans, construction loans, debt refinances, partner buyouts, and working capital.
- Preferred lenders offer small business owners the ability to acquire a business with as little as 10 percent down.
- Preferred lenders usually offer market interest rates and repayment terms from seven to 25 years and no prepayment penalties on loans under 15 years, and these loans are also assumable (with qualification).
- Preferred lenders are reputable and have a proven track record since they have an ongoing relationship with the SBA.
Standard vs. Preferred Lenders
Preferred Lender
Can underwrite loans entirely in-house, which generally speeds up the process. Not all loans will be underwritten in-house; some will be sent to the SBA office for standard processing.
Estimated time: 30-45 days for approval
Standard Lender
Requires the loan to be reviewed by an SBA office. This can add significant time to the underwriting process.
Estimated time: 45-60 days for approval
Why We Rise Above the Competition
Quick Responses
We provide local service with a dedicated relationship manager, not a 1-800 number. Our experts are standing by to help you and your business.
Coordinated Efforts
With lending, treasury, and retail under one roof, you benefit from efficient efforts that maximize your yield from your banking operations.
Customized Solutions
We personalize our banking solutions for each and every customer, offering a comprehensive list of products that meet your business needs.
Experience You Can Trust
Our team of dedicated SBA specialists are ready to provide game-changing assistance. We apply our years of expertise to help you navigate the SBA programs to secure the funding needed to grow your business.
A Trusted Partner
As an SBA Preferred Lender, we can streamline the process, making it faster and easier to get the funds you need. With our local knowledge and commitment to supporting businesses in the St. Louis region, we’re here to help you achieve your goals every step of the way.
How to Choose a SBA Lender
There are over 2,500 active SBA lenders in the country and the product is identical across lenders. If you are considering who to apply for your SBA loan with, you might want to consider:
- Local Decision Making: Your loan is reviewed with the decision-makers
- Working With Lenders That Know Your Market: You bank where you live. The intangible benefits go above and beyond the typical 5 cs of credit.
- Preferred Lender Status: A Preferred SBA Lender can underwrite loans entirely in-house, which generally streamlines and speeds up the process. Average closings can range from 75-90 days to 45-60 days.
Your lender’s goal should be to expedite the SBA loan process to provide faster access to competitively priced capital, helping to spur small business growth. The time is ripe for small businesses to take advantage of government-backed programs that help small businesses tackle perennial challenges, particularly as the economy expands post-pandemic.
Let’s grow your business together.
Let one of our SBA specialists help you find the financing option that is right for you.
Hakim Kassam, SVP / Director of SBA Lending – (954) 292-9293