Take your business to the next level
Financing for just about anything for your business
SBA 7(a) Loan*
Backed by the U.S. Small Business Administration, the SBA 7(a) offers flexible terms, competitive rates for nearly any business purpose, including working capital, equipment purchases, buying real estate, acquiring a business, or refinancing debt.
$5,000-$5,000,000 loan amounts available
Easier approval for bigger opportunities
Flexible use of funds
Get the funding you need to grow your business
Features & benefits:
- Competitive interest rates
- Lower down payments compared to conventional loans
- Online Banking with bill payment
- eStatements
- Available for startups and established businesses
- Can be used for real estate, working capital, or debt consolidation
- Unsecured loans available $5,000-$50,000
- Secured loans available
- Flexible terms up to 25 years
Best if you:
- Want to expand operations
- Are launching a new business
- Need funding for equipment or inventory
- Want to buy or refinance commercial real estate
WaFd Bank's SBA Loans and Credit Lines
SBA 7(a) Loan | SBA 504 Loan | SBA Express Line of Credit | |
|---|---|---|---|
Uses | Flexible; working capital, inventory, debt refinancing, purchasing another business, etc. | Buy or improve major fixed assets like commercial real estate, long-term equipment, upgrades, or expansion | Flexible; manage cash flow, seasonal gaps, emergencies, etc. |
Maximum loan amount | Up to $5,000,000 | Up to $15,000,000 | Up to $500,000 |
Term | 2 to 25 years | 10, 20, or 25 years | 10 year term, use as a line of credit for 2 years, then converts to 8 year repayment period |
Prepayment penalty | Only applicable for terms of 15 years and up, declines as years pass | Varies, but declines as years pass | N/A, use it and pay it off again and again |
Interest rate | Can be fixed or variable | Fixed | Variable |
Access to funds | Varies depending on the project; typically a one-time lump sum disbursement | Varies depending on the project; typically a one-time lump sum disbursement | Borrow as needed up to a set amount |
Down payment | Varies based on use of funds | Generally 10%, can be up to 20% | Varies based on use of funds |
Collateral | Can be secured or unsecured, depending on use of funds | Secured by property or equipment | Can be secured or unsecured, depending on use of funds |
Connect with Us
Our knowledgeable and experienced bankers are ready to help.
Scale Your Success
Expand your financial capacity with our integrated business banking solutions, designed to scale with your goals.
REMOTE DEPOSIT CAPTURE
Submit your bank deposit using a simple desktop scanning device
- Save time, no need to drive your deposits to the bank
- Receive credit faster
- Access images of deposited items
eACH
A secure and fast way to send and receive payments
- Vendor Payments
- Payroll
- Payment Collection
ADDITIONAL OPTIONS
More ways to upgrade your account
- Treasury Prime for ultimate control over business accounts
- Sweep Accounts
- Zero Balance Accounts
- eWires: send domestic and International wires quickly
Expert Insights
Navigate your business confidently with expert knowledge and guidance.
Trusted Partners
Testimonials from our business clients.
RETAIL
Definitely have a bank partner in our corner, 100%.”
Daniel Goodwin
NON-PROFIT
It has just been a really wonderful experience. So much so that we are actually in the process of transitioning almost all of our banking as a non-profit agency to WaFd Bank.”
Crystal Hovath
RETAIL
It's an incredible relationship! I've never seen it in banking, and that's why we stick with WaFd Bank!”
Jackie Sorkin
Frequently Asked Questions
*Loans subject to approval.