Small Business Administration (SBA) Loans

Key features and benefits of SBA loans offered by First Port City Bank

Flexible Loan Amounts: SBA loans through First Port City Bank typically range from a few thousand dollars to several million, depending on the specific needs of the business.

Longer Repayment Terms: SBA loans often come with longer repayment terms compared to conventional loans, which can help lower monthly payments and improve cash flow for small businesses.

Lower Down Payments: SBA loans typically require lower down payments compared to conventional loans, making them more accessible to small businesses with limited capital.

Competitive Interest Rates: First Port City Bank offers competitive interest rates on SBA loans, helping small businesses save on borrowing costs.

Use of Funds: SBA loans can be used for a variety of purposes, including working capital, purchasing equipment or real estate, refinancing debt, and more.

Streamlined Application Process: While SBA loans may have more paperwork than conventional loans, First Port City Bank aims to streamline the application process to make it as smooth and efficient as possible for small business owners.

Personalized Service: First Port City Bank prides itself on providing personalized service and support to small business owners throughout the loan application and approval process.

Overall, SBA loans from First Port City Bank can be a valuable financing option for small businesses looking to start, grow, or sustain their operations. However, it's important for business owners to carefully review the terms and conditions of any loan offer and consider consulting with a financial advisor or accountant to ensure it aligns with their business goals and financial situation.