Small business doesn’t mean thinking small.
Paradise Bank specializes in providing long-term, permanent financing to small businesses through the Small Business Administration (SBA) guaranteed loan programs. We are proud to have been designated a preferred lender (PLP) by the SBA, meaning the approval process has been trusted to Paradise Bank. As a result, we are able to provide you with faster and more efficient processing of your SBA loan applications.
- Management must be experienced and of good character
- Must be able to demonstrate the ability to repay the loan with cash flow from business operations
- Must have adequate collateral
Type of Business:
- Business must be for-profit
- Business must be a "small business" as defined by SBA size standards
Loan Purpose/Use of Loan Proceeds:
- Purchase an existing business – up to 80% financing
- Expand an existing business – up to 90% financing
- Equipment and machinery purchase – up to 100% financing
- Inventory purchase
- Tenant improvements
- Working capital
- Start a franchise or new business – up to 80% financing
- Office buildings, office condos, medical offices, rehab centers.
- Warehouse property
- Car Washes
- Gas Stations
- Assisted Living Facilities/child care centers
Loan Amounts and Terms:
- Up to $5,000,000 Loan Repayment Terms
- Up to 25 years for purchase of owner-occupied business properties
- Up to 10 years to purchase a business, partner buy out, purchase fixed assets, or working capital
Advantages of an SBA 7(a) Loan:
- Lower down-payment
- Longer terms - up to 25-years
- Longer amortization which means more affordable monthly payments
- More flexible underwriting
- All 7(a) loans are fully amortized with no balloons or call dates
Click here to download an application.