Business Loans / SBA

SBA

We know local, small businesses — because we’re one too. Enjoy financing for your small business from an institution that is legitimately invested in your success. We tailor your loan to meet your small business’s wants and needs — with knowledgeable customer service that’s right around the corner.

SBA 7(A)

  • Increase the potential of approval of your loan by getting a portion of that loan backed by the United States Government with a SBA 7A loan from New Buffalo Savings Bank. Minimize risk, raise your chances of approval, and enjoy the customer service that only a local, knowledgeable bank can provide:

    • Government-backed lending for qualified small businesses
    • Available for the purpose of:
      • Equipment
      • Real estate
      • Startups
      • Working capital
      • Business acquisition
      • Refinancing existing debt
      • And more
    • Repayment term details:
      • Real estate – up to 25 years
      • Business acquisition – up to 10 years
      • Machinery and equipment – up to 10 years
      • Working capital and inventory – up to 7 years
    • Local decision-making 
    • Attentive, personalized service from start to finish
SBA 504

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. This program is a proven success and win-win for the small business, the community and participating lenders.

  • Fixed rate financing with as little as 10% down
  • Use for expansion and modernization
  • Made available through Certified Development Company (CDCs) and NBSB

USDA

Access government-backed lending for your small business!

  • Designed for the needs of small businesses located in qualifying rural areas*
  • Eligible uses include but are not limited to:
    • Business conversion, enlargement, repair, modernization, or development
    • Purchase and development of land, easements, rights-of-way, buildings, or facilities
    • Purchase of equipment, leasehold improvements, machinery, supplies, or inventory
    • Debt refinancing when new jobs will be created and other conditions are met
  • Business and industrial acquisitions when the loan will keep the business from closing and/or save or create jobs
  • Available in loan amounts up to $5 million
  • Backed by the United States Department of Agriculture (USDA)
  • Loan terms between 7 and 30 years
  • Affordable payment plans
  • Easy to apply
  • Competitive rates
  • Flexible terms
  • Attentive, personalized service from start to finish

For more information on SBA and USDA Lending, contact [email protected] or [email protected].

Some restrictions and normal credit standards apply. Financing subject to financial, credit, and collateral approval.  Rates, terms, and loan conditions are flexible and competitive.