We are an SBA Preferred Lender with a proven track record and a proficiency in processing and servicing SBA-guaranteed loans.
Our Preferred Lender designation acknowledges our commitment and dedication to helping the small business community continue to grow and prosper and allows us to expedite the loan process.
Our SBA division offers small business owners tailored assistance to support their financing needs, and to help their businesses to succeed. Our team has over 30 years of SBA experience, exemplifying Peapack Private’s reputation as a high-performing boutique bank that can offer our clients the most convenient and sought-after products and solutions.
SBA 7(a) Loans
Peapack Private participates in the SBA 7(a) Loan Program, which is designed to assist start-up and existing small businesses attain their financing needs for nearly any business purpose to assist in business growth. The SBA programs have enabled existing small businesses to obtain financing when they might not be eligible for business loans through conventional lending channels.
Program highlights:
- Loan amounts up to $5 Million with terms up to 25 years
- Business uses include: machinery & equipment purchases, leasehold improvements, owner-occupied commercial real estate (including purchase, renovation and new construction), business acquisitions, franchise financing and working capital
- No prepayment penalty if the loan maturity is under 15 years
SBA Express Program
Peapack Private participates in the SBA Express Loan Program offering lines of credit up to $500,000 to qualified businesses, which provides financing to assist in maximizing the working capital and cash flow needs of your business.
SBA 504
Peapack Private proudly participates in the SBA 504 Loan Program, offering long-term, fixed-rate financing for major fixed assets that foster business growth and job creation. Enjoy up to 90% financing for purchasing real estate and large equipment projects with competitive rates and terms.
Key Features:
- No maximum loan amount for the Bank's 1st mortgage with terms up to 25 years
- Maximum loan amounts for SBA's 2nd mortgage with terms up to 25 years :
- $5.0 million for typical projects
- $5.5 million for manufacturers
- $5.5 million for projects meeting certain Green Initiative Public Policy Goals
The 504 Refinance Program now makes it eligible to refinance a commercial property loan even if it is an existing SBA 7(a) or SBA 504 loan.
For more information on our SBA Preferred Loa programs, contact one of our experienced Relationship Managers today.
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