For small business owners looking to grow, access to funding can often be the biggest hurdle. That’s where Small Business Administration (SBA) loans come in. Designed to make capital more accessible, SBA loans offer a powerful pathway to business success. At Farmers Bank, we’re proud to partner with local entrepreneurs by providing the support, tools, and financing they need to thrive.
What Are SBA Loans?
SBA loans are government-backed lending options offered through participating banks like Farmers Bank. These loans are designed to reduce risk for lenders, making it easier for small businesses to qualify for funding. With competitive interest rates, longer repayment terms, and lower down payments, SBA loans are a practical and strategic solution for many business needs, including startup capital, equipment purchases, inventory, working capital, and even real estate acquisition.
Who Qualifies for an SBA Loan?
While every situation is unique, SBA loans are generally available to small businesses that meet a few basic criteria:
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Operate for profit in the United States
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Meet the SBA’s definition of a small business based on industry size standards
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Have reasonable owner equity to invest
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Demonstrate a need for financing and show the ability to repay
Farmers Bank can walk you through the eligibility details to determine if an SBA loan is the right fit for your business.
A Simple, Supportive Application Process
Applying for an SBA loan may sound complex, but our local lending experts are here to make it straightforward:
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Initial Consultation – Meet with a Farmers Bank lender to discuss your goals and determine the best loan type for your business.
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Gather Your Documents – You’ll need a business plan, financial statements, tax returns, and basic personal and business information.
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Submit Your Application – We’ll guide you through the forms and documentation to help minimize delays.
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Loan Review & Approval – Once submitted, your application is reviewed by both Farmers Bank and the SBA. Our team keeps you informed every step of the way.
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Funding & Support – After approval, funds are disbursed and we continue supporting your business with banking solutions to help manage and grow your operation.
How SBA Loans Support Business Success
The flexibility and affordability of SBA loans make them ideal for business owners planning strategic growth. Whether you're investing in equipment, opening a second location, expanding your team, or simply improving cash flow, these loans provide the financial lift to get you there.
Some benefits include:
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Lower down payments than traditional loans
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Longer repayment terms to keep monthly payments manageable
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Support from experienced bankers who understand your community and industry
At Farmers Bank, we see firsthand how access to SBA funding has transformed businesses in our local communities—and we’re proud to be part of that success.
Let Farmers Bank Help You Take the Next Step
SBA loans are about opening doors and creating opportunity. Whether you’re just launching or expanding a growing business, the team at Farmers Bank is ready to help you access the support and funding you need to succeed.
Contact Farmers Bank today to speak with a business lending expert and discover how an SBA loan can move your business forward.
FAQs
What is the maximum loan amount I can receive through an SBA loan?
SBA loan amounts vary by program, but the 7(a) loan program—one of the most common—offers up to $5 million in financing.
How long does it take to get approved for an SBA loan?
Approval timelines can vary, but with complete documentation and support from Farmers Bank, most SBA loan applications are processed within a few weeks.
Can SBA loans be used to refinance existing debt?
Yes, SBA loans can be used to refinance certain types of qualifying business debt under specific conditions.
What’s the difference between a 7(a) loan and a 504 loan?
The 7(a) loan is versatile for many general business needs, while the 504 loan is typically used for fixed assets like equipment or real estate.
Is collateral required for SBA loans?
Collateral requirements depend on the loan size and use. Farmers Bank can walk you through what’s needed for your specific application.