The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses.

Two Major Programs:

SBA 7(a):The 7(a) Loan Program is SBA's primary program for helping start-up and existing small businesses, with financing guaranteed for a variety of general business purposes. SBA does not make loans itself, but rather guarantees loans made by participating lending institutions, including Midtown Bank

SBA 504: The SBA 504 loan is designed to assist entrepreneurs obtain long-term financing for capital assets like the purchase of real estate and expensive equipment. Recognizing that small business owners sometimes have more difficulty getting traditional business financing but need funds to grow, the SBA 504 loan provides financing for entrepreneurs to make the investment in their own facilities, continue to expand and create new jobs. Small business owners can buy their own building or build a larger facility to accommodate increased sales and more staff. Owning a building also gives a small business owner more of a stake in the community and builds equity. The community gets the benefit of additional jobs, business growth and tax revenues from a growing small business.

Please contact a Midtown Bank SBA specialist to determine which SBA loan product meets your small business need.