Small Business Administration (SBA) Loans
BankVista is excited to announce we have received the 2019 Minnesota SBA Lender of the Year award. We’d like to thank our team for their hard work and dedication. From customer service to our expert lenders, we couldn’t do it without you!
We’d also like to thank the small businesses in our community for trusting us with your business banking needs. We appreciate the opportunity to serve you and our community together. Small businesses are the backbone of our community. That's why we work to offer them financing they need to thrive.
As a Preferred SBA Lender, at BankVista we work with the U.S. Small Business Administration offering these special loan programs. If your business can't qualify for traditional lending, talk to a BankVista commercial lender who can go over additional options with you.
Bank Smart. Bank Local. BankVista.
- Government-assisted help for businesses that might otherwise have difficulty getting approved
- Special financing for qualifying businesses
- Competitive rates for a wide range of business needs:
- Commercial real estate purchase
- Business acquisition or expansion
- Equipment and inventory purchase
- Working capital
- And more
- Several lending options available
- Generally lower down payments and extended terms
- Additional considerations taken when deciding maturity*
- Easy, streamlined application process
- In-house processing for expediency and efficiency
- Personalized, attentive service
Saving You Time Right from the Start
The following information is usually required during the loan process:
- Personal & Business Federal Tax Returns – last 3 years with all supporting schedules (Required on all guarantors and/or all individuals who own 20% or more of the business)
- If an existing business – Year-to-Date Balance sheet and Profit & Loss statement are required. (Must be dated within 90 days of application).
- 2-Year Projection of earnings – (required if less than 3 years of historical statements are available)
- If any owner/borrower has a controlling interest in another business, 3 years of financial information must be submitted on each affiliate entity.
- A/R and A/P Aging Reports – at Banks discretion depending on use of proceeds and collateral offered
- For Franchise purchase include Uniform Franchise Offering Circular (UFOC)
- Purchase Agreement (applies only to acquisitions or real estate purchases)
- Complete SBA Application & Forms