SBA "Preferred Lender" Programs

FAIRWINDS has been awarded the "Preferred Lender" status by the U.S. Small Business Administration (SBA). This streamlines the loan approval process offering faster turnaround time for loans to Central Florida small businesses.

Only lenders who have demonstrated a proficiency in processing and servicing SBA-guaranteed loans are considered for the SBA's Preferred Lenders Program.

FAIRWINDS is the only credit union in Florida to have received the Preferred Lender Program status, and one of the few in the country.

SBA 7(a) Loans

FAIRIWNDS is pleased to offer the 7(a) loan program, the most popular and flexible business loan program from the SBA. A 7(a) loan offers longer terms and lower down payments, compared to other types of business financing.

Because it is backed by a SBA guarantee, you can access larger lump sum funding to fund equipment, inventory and working capital.

Proceeds can be used for a variety of purposes including working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing (under special conditions).

Terms are available for up to 7 years for working capital, 10 years for equipment and generally up to 25 years for real estate.

To find out more about SBA programs, or to determine if SBA financing is right for you, please contact our Business Services team.

SBA 504 Loans

Looking for long-term financing?

SBA 504 programs provide affordable financing for long-term growth such as real estate purchases, property improvements, and equipment.

SBA 504 programs are available for terms up to 10 years on equipment, and 20 years on real estate.

To find out more about SBA programs, or to determine if SBA financing is right for you, please contact a FAIRWINDS Business Loan Officer today.

SBA Express Loans

Perfect for small businesses looking for working capital lines to leverage receivables and inventory or to purchase machinery and equipment, the SBA Express Loan is an ideal solution to help your business grow.

Available for both lines of credit and term loans, the SBA Express offers a more streamlined application process and a faster turnaround time.

Terms are available for up to seven years for working capital, ten years for equipment and up to 25 years for real estate.

To find out more about SBA programs, or to determine if SBA financing is right for you, please contact our Business Services team.

SBA Patriot Express Loans

Available exclusively for veteran, active duty, or reservist-owned small businesses, the SBA Patriot Express Loan provides working capital to help you leverage receivables and inventory or to purchase machinery and equipment.

Terms are available for up to seven years for working capital, ten years for equipment and generally up to 25 years for real estate.

To find out more about SBA programs, or to determine if SBA financing is right for you, please contact our Business Services team.

Loan Comparison

Compare Loans
SBA 7a Program SBA
Express
SBA 504 Program

Benefits

Offers existing companies term loans and commercial mortgages on favorable lending terms and the ability to grow their business. Provides stream-lined application process on Lines of Credit and Term loans to help existing, expanding small businesses grow. Provides established businesses with affordable long-term, fixed-rate small business loans to help healthy, expanding small businesses acquire heavy equipment or real estate for its own use.

Perfect for

Small business looking for flexible terms on term loans to acquire equipment, real estate for its own use or grow their business. Small businesses needing working capital lines to leverage receivables or inventory, or to purchase machinery and equipment. Established businesses purchasing heavy machinery or equipment or real estate for its own use.

Credit Amount

Maximum
$5 million
Maximum
$1 million
Maximum
$5 million

Interest Rates

7yr maturity prime + 2.25%

>7yr maturity prime + 2.75%
Up to
Prime + 4.50%

Loans <= $50k
Prime + 6.50%
Contact your Business Loan Officer
Standard SBA guaranty fees apply.

Term

Up to 7 years for working capital, 10 years for equipment and up to 25 years for fixed assets. Up to 10 years on equipment and up to 20 years on real estate.

Documentation Required

Contact your local branch manager
SBA 7a Program SBA
Express
SBA 504 Program

Needed Documents

  • Complete and signed commercial loan application
  • Brief description of the company
  • Signed/complete copies of the previous two years tax returns and all schedules for each owner or principal
  • Copies of W-2 (if applicable) for last two years
  • Copies of the last three year-end company financial statements (balance sheet, profit/loss statements and complete tax returns)
  • Current signed interim business financials statements
  • Projected profit and loss statements for the upcoming year
  • Current personal financial statements for each owner or principal with at least 20% ownership
  • Completed Schedule of Business Debts Worksheet

If the loan is to be secured by equipment inventory:

  • The most recent inventory listing with estimated values

If the loan is to be secured by equipment or used to purchase new/used equipment:

  • The most recent equipment listing with estimated values
  • New equipment: signed purchase agreement
  • Used equipment: signed purchased/sale agreement

If the loan is to be secured by a pledge of stocks, bonds, mutual funds, securities accounts or debentures:

  • A list of securities, values, date traded and source Business Organization Structure
  • For Corporations: Articles of Incorporation
  • For Partnerships: Partnership Agreement
  • For D/B/A: Assumed Name Certificate
  • For Limited Liability Companies: Articles of Organization