SBA/Government Loans

Small Business Administration (SBA)/Government Loan Details

What are SBA Loans?

SBA loans are backed by government-sponsored loan guarantees and are available to for-profit businesses in most industries. Being a Preferred Lender means FirstMerit can process and approve SBA loans, expediting the application process.

Does my business qualify for an SBA loan?

Small businesses must meet certain criteria to qualify for an SBA loan including:

  • Size requirements
  • Financial standing
  • Being in a for-profit industry
  • No access to other financing that offers reasonable terms
  • Meet the credit qualifications of the lending partner

Features & Benefits

  • Lower down payments: up to 90% financing
  • Longer repayment terms: up to 25 years
  • Loans up to $11 million
  • Fixed and variable rate options
  • No balloon payments
  • SBA loans originated at FirstMerit Bank are serviced by us, assuring personalized service

Let's Talk

 

Subject to credit approval.