SBA 7(a) Loan

Features

For any business use, including business real estate purchase, construction,
refinance, business acquisition, equipment purchase and working capital.

$50,000 ~ $5,000,000
For loans over $5,000,000, Hanmi Bank can arrange financing through a
Combination Financing Loan or a participating loan.

SBA loans are variable-rate loans tied to lowest Wall Street Journal Prime Rate.
Hanmi Bank offers the most competitive rates allowed under the program.

Term depends on the use of loan proceeds

  1. 25 years for real estate purchase, construction, or refinance
  2. 10 years for business and equipment purchase
  3. 10 years for working capital, including inventory purchase

SBA Guarantee Fee

SBA guarantee fee will be charged based upon SBA rule. Upon receiving the
application's initial documentation, a preliminary response will be given within two
(2) days. From loan application to funding is approximately 4-6 weeks.

  1. Hanmi Bank application with personal financial statement
  2. Three years income tax returns
  3. Interim financial statements with interim period ending within three (3) months of the application date
  4. Escrow instructions or purchase agreement

Further Benefits

  • We are allowed to fund your loan faster because no approval by the SBA is required.
  • Up to 90% financing on real estate purchase or refinance.
  • Start-up businesses can qualify.
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