Franklin Synergy Bank is proud to offer our business customers some of the most beneficial commercial loan products in middle Tennessee.
Franklin Synergy Bank is proud to offer our business customers some of the most beneficial commercial loan products in middle Tennessee. One such product that the bank offers are loans backed by the U.S. Small Business Administration. SBA loans offer growing businesses funding that is advantageous toward their successful growth.
With the guaranty of the SBA, Franklin Synergy Bank may extend commercial loans that:
- Provide much lower equity contribution requirements (as low as 10%) which preserves precious working capital in the business
- Provide loans that have longer amortizations than conventional financing which minimizes monthly payments for a growing business
- Provide loans that do not balloon every 1-5 years but are fully amortizing. This drastically reduces the cost and inconvenience of refinancing loans continually: not to mention the elimination of any uncertainty of the ability to refinance the loan at the balloon date.
- Provide long-term, fully amortizing loans for working capital over as much as ten years which assures businesses of the continued availability of precious working capital.
- Provide fixed rate option for owner occupied commercial real estate as long as 20-25 years.
SBA loans may be utilized for the following commercial purposes:
- Commercial real estate acquisition
- Short and long-term working capital
- Business Acquisitions
- Franchise Financing
- Debt Refinance for any of the above uses
- Franklin Synergy Bank will review requests for SBA loan products for loans sizes between $150,000-$13,750,000
Eligibility Criteria For SBA Loan Products
- Must be an operating business organized for profit
- Must be located in the United States
- Must be deemed a small business by SBA. Currently that is defined as businesses with a tangible net worth no greater than $15 million and a net income average for the past two years no greater than $5 million
Franklin Synergy Bank has experienced loan officers with decades of experience in analyzing the specific needs of the growing business and recommending and quickly closing and funding the right SBA loan product. With this experience of closing hundreds of SBA loans, our loan officers will make the SBA process efficient and easy.
For more information on any of our SBA loan products or to schedule an appointment for a free, no-obligation analysis of which SBA product would be right for you, please Contact Us.