Loan Comparison | SBA Lending | First Federal Bank | SBA Lending

	SBA 7(a) Loan	SBA 504 Loan	USDA Loan	Conventional
Use	General Purpose	Real Estate & Equipment	Real Estate, Equipment, Working Capital and Construction	General Purpose
Loan Size	$350,000 to $5,000,000	$2,000,000 to over $15,000,000	$500,000 to $10,000,000	Unlimited
Interest Rate	Variable or fixed rate Fully amortized through the term of the loan Interest rates are based on the current market conditions with various indexes up to prime and individual loan review	Variable or fixed rate Fully amortized through the term of the loan Interest rates on 504 loans are set at an increment above the current market rate for five-year and ten-year U.S. Treasury issues	Variable or fixed rate Fully amortized through the term of the loan Interest rates are based on the current market conditions with various indexes up to prime and individual loan review	Variable or fixed rate
Terms Available & Amortization Periods	25 years: real estate 10 years: equipment, business acquisition 5 to 7 years: working capital All loans are fully amortized No balloon payments	20 years fully amortized real estate loan 10 years fully amortized equipment loan No balloon payments	30 years: real estate 15 years: equipment or useful life 7 years: working capital All loans are fully amortized No balloon payments	Typically 20 year amortization for real estate with 5 year balloon 10 year balloon 5 Years: equipment Typically 1 year line of credit working capital
Loan Purpose	Expand, acquire or start a business Purchase or construct real estate Refinance existing business debt Buy equipment Provide working capital Finance building improvements Purchase inventory	Purchase existing building Land acquisition Ground up construction Expansion of existing building Finance building improvements Purchase equipment	Expand, acquire or start a business Purchase or construct real estate Refinance existing business debt Buy equipment Provide working capital Finance building improvements Purchase inventory Non-owner Occupied Investment Properties	Expand or acquire a business Purchase or construct real estate Refinance existing business debt Buy equipment Provide working capital Construct leasehold improvements Purchase inventory
Loan Structure	Up to 90% bank loan 10% borrower down payment	50% bank loan Up to 40% CDC loan 10% borrower down payment	Up to 100% bank loan 10% TBSE Requires Existing Business 20% TBSE Start-Up	Up to 80% bank loan 20% borrower down Payment Plus closing costs
Loan Fees	1.75% - 2.75% of loan depending on size Fees rolled into loan	Weighted average fees for both loans are 2% Fees rolled into loan		Up to 1% origination fee Fees paid at closing
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