Small Business Center SBA & USDA Government Guaranteed Loans

Four Oaks Bank is committed to fostering the success of local businesses and government guaranteed loans through the Small Business Administration (SBA) or the United States Department of Agriculture (USDA) are just two of the resources available.  Whether you are preparing to start a new business or expanding your established business, our SBA&USDA professionals are here to assist you.

Mike Wooten Mike Wooten
SVP, Commercial Banker
SBA & USDA Specialist
NMLS #583725
919-938-6301
 
Email Mike
Mike Wooten Lori Renfrow
AVP, Branch Operations Officer
Government Lending Specialist

 

Features SBA (7a) Loan Program
USDA B&I Guaranteed Loan Program
Loan Size
  • Up to $5,000,000
  • Up to $10,000,000
Guarantee
  • Up to 75% guarantee
  • Up to 75% guarantee
Interest Rates
  • Fixed, Variable or Combination
  • Fully Amortized – No Balloon
  • Index:  WSJ Prime
  • Fixed, Variable or Combination
  • Fully Amortized – No Balloon
  • Index:  WSJ Prime
Loan Term
  • Real Estate – up to 25 years
  • R/E improvements – up to 25 years
  • Equipment – up to 15 years
  • Leaseholds – up to 10 years
  • Working Capital – up to 7 years
  • Real Estate – up to 30 years
  • R/E improvements – up to 25 years
  • Equipment – up to 15 years
Use of Loan Proceeds
  • Purchase Land & Building
  • Construction, Renovations, or Leasehold Improvements
  • Furniture & Fixtures
  • Machinery & Equipment
  • Inventory & Working Capital
  • Refinance Existing Debt
  • Purchase Land & Building
  • Construction or Renovations
  • Machinery & Equipment
  • Refinance Existing Debt
Loan Fees
  • Vary based on loan size, guaranteed portion and qualification
  • See one of our SBA professionals for details
  • Vary based on loan size, guaranteed portion and qualification
  • See one of our USDA professionals for details
Job Creation
  • None
  • Subject to USDA criteria
Percentage Financed
Up to:
Up to:
Real Estate
  • 90%
  • 90%
Equipment
  • 85%
  • 85%
Furniture & Fixtures
  • 80%
  • N/A
Accounts Receivable
  • 80%
  • N/A
Inventory
  • 80%
  • 80%
Forms →
SBA Application & Additional Forms
USDA Application & Additional Forms

Note:  Ask your Four Oaks Bank Business Banker about additional SBA loan programs.

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