Examples of SBA Financing

SBA loans are available for small businesses to finance any legitimate business expenditure.  Due to the partial government backing on the loan from the U.S. Small Business Administration, lenders will approve SBA loan requests with lower down payments, longer repayment terms, and easier qualifying criteria than conventional bank loans.  Following is a listing of how SBA loan proceeds may be used by a small business:

  • Purchase real estate in which at least 51% of the square footage is occupied by the small business.
  • Construct a new building in which at least 60% of the square footage is occupied by the small business.
  • Renovate and/or expand an owner-user small business property.
  • Purchase a business.
  • Start up a new business.
  • Purchase business equipment.
  • Buy out a partner or shareholder.
  • Consolidate debts.
  • Provide working capital for expansion of the business.

Following is a listing of some of the businesses which have benefited from SBA financing:

  • $130,000 – Purchase existing franchise transmission shop
  • $1,562,000 – Construction and permanent financing for swim school
  • $4,800,000 – Startup business and new construction financing for franchise hotel
  • $267,000 – Long term financing for real estate company to buy an office condo
  • $250,000 – Business expansion financing for ethnic grocery store
  • $1,092,000 – Acquisition and remodeling loan for a rural nursing home
  • $635,000 – Financing to purchase real estate from landlord for existing auto repair business
  • $1,723,000 – Purchase financing for independent hotel
  • $510,000 – Finance new location for existing independent restaurant chain
  • $5,000,000 – Startup business and construction/permanent financing for assisted living facility
  • $350,000 – Financing for salon to purchase a business condo
  • $135,000 – Startup funds for new chiropractic office
  • $100,000 – Working capital funds for growth and expansion of masonry business
  • $392,000 – Startup funds for franchise pizza restaurant
  • $40,000 – Working capital funds for an events facility
  • $35,000 – Funds for startup property tax protest business
  • $75,000 – Financing for mobile restaurant truck
  • $100,000 – Working capital for computer repair business expansion
  • $407,240 – Refinance debt for Laundromat equipment
  • $130,000 – Funds for children’s haircuts startup business
  • $788,200 – Financing for acquisition of child daycare facility
  • $1,220,000 – Financing to purchase warehouse for antiques dealer
  • $100,000 – Funds to startup new bridal shop
  • $75,000 – Provided funds for purchase of franchise furniture repair business
  • $1,136,000 – Provided financing for dentist to purchase building from landlord
  • $325,500 – Funding to purchase building for air conditioning service company

About Bruce Hurta

Bruce Hurta has extensive experience in Small Business Lending. He has served in a number of commercial lending and banking capacities in his career including, President of a Houston-area community bank for 6 years, managed Independence Funding Company, a non-bank start-up in 1994, where he developed his SBA lending expertise. Bruce spent 4 years in Finance as a bank examiner for the Texas Banking Department, 7 years in executive management at two community banks, and 14 years as SBA Lender. He is active in the commercial realtor and business brokerage communities, along with various business and industry organizations. Bruce Hurta is Vice President - Business Development in Houston, TX for Fidelity Bank SBA Lending nationwide. Fidelity Bank offers SBA 7(a) loans, SBA 504 loans, and USDA loans for small businesses to purchase or construct new buildings for their small business operations, to acquire a business, to expand a business or to buy out a business partner.
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