Benefits of an SBA Loan from Bank of Hope

Guaranteed by the SBA*

Our SBA loan specialists will get to know both you and your business to provide tailored financial advice and provide thoughtful answers to all questions.

Lower Down Payment Requirements

We assist new and small businesses to achieve financial success by offering lower minimum down payments and reasonable SBA loan qualifications.

Longer Repayment Terms

Bank of Hope’s option of longer repayment terms leads to lower payments per month, helping you financially weather the ups and downs of running a small business.

Access to SBA Resources

Your SBA loan from Bank of Hope will be semi-guaranteed by the Small Business Administration. You’re invited to partake in their services like training courses, international relations support, and more.

SBA 7(a) Loans

The SBA's primary program for providing financial assistance to small businesses.

  • Up to $5 million
  • Flexible spending capabilities

SBA 504 Loans

Apply for funds to purchase land/real estate or fixed assets/equipment

  • Up to $15 million
  • Longer loan terms available

SBA Export Working Capital Program (EWCP)

A short-term SBA loan specifically for businesses that generate sales through exports

  • Up to $5 million
  • Inventory is considered sufficient collateral

Bank of Hope EZ Loans / SBA Express Loans

Your business loan process shouldn't slow you down.

  • Up to $350,000
  • Simple, fast and easy application process

 *EZ Loans are Bank of Hope products and are not guaranteed by the SBA.

 

SBA 7(a) Loans

The SBA's primary program for providing financial assistance to small businesses.

  • Up to $5 million
  • Flexible spending capabilities
Learn More

SBA 504 Loans

Apply for funds to purchase land/real estate or fixed assets/equipment

  • Up to $15 million
  • Longer loan terms available
Learn More

SBA Export Working Capital Program (EWCP)

A short-term SBA loan specifically for businesses that generate sales through exports

  • Up to $5 million
  • Inventory is considered sufficient collateral
Learn More

Bank of Hope EZ Loans / SBA Express Loans

Your business loan process shouldn't slow you down.

  • Up to $350,000
  • Simple, fast and easy application process

 *EZ Loans are Bank of Hope products and are not guaranteed by the SBA.

 

Learn More

Compare and Select

Loan Type SBA 7(a) Loan SBA 504 Loan SBA Export Working Capital Program EZ Loan / SBA Express Loan
Purpose Nearly any business-related purpose Real estate, heavy equipment and other fixed assets Upfront costs for export businesses Business Purchases / Other Purposes
Loan Amount Up to $5 million
  • 1stfirst Deed Financing: Up to 50% of total financing package
  • 2ndsecond Deed Financing: Up to 40% of total financing package
Up to $5 million
  • Up to $350,000 for business purchases
  • Up to $250,000 for other purposes
Terms
  • Up to 10 years for business-related purpose
  • Up to 25 years for real estate related purpose
  • 1stfirst Deed Financing: Up to 10 years
  • 2ndsecond Deed Financing: Up to 25 years
12 months - 3 years Up to 10 years
*Percent of Guaranty
  • 85% for loans of $150,000 or less
  • Up to 75% for loans over $150,000
N/A 90%
  • EZ Commercial Loan: No SBA Guaranty
  • EZ SBA Loan: 50%

 

Bank of Hope is recognized for its successful 30-plus year track record of expertise in SBA lending. Let our experts help you determine the right SBA loan to help you achieve your business goals.

Ready to get started?

Contact Us

Call Center: 1-855-325-2226
Mon-Fri: 5:30 am - 6:00 pm (PST)
Sat: 6:00 am - 1:00 pm (PST)

SBA Lending: 1-888-972-5363
Mon-Thu: 8:30 am - 5:30 pm (PST)
Fri: 9:00 am - 6:00 pm (PST)

Message Us

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FAQ about SBA Loans

Only for-profit, US-based small businesses qualify for SBA loans. Additionally, your company must have a credit score of at least 140, and your personal credit score must be a minimum of 620. As the business owner, you must provide a personal guarantee for the SBA loan.

Additional factors that will impact the likelihood of you qualifying for an SBA loan include:

  • Whether your business has at least two years of operating experience
  • Your company’s overall financial health, verified through balance sheets, tax returns, and similar documents
  • The specifics of your business plans and the intended use for the SBA loan funds

We recommend bringing the following to a meeting with one of our business loan specialists:

  • Your business plan, the more detailed, the better—this enables us to assess which SBA loan may best serve your objectives
  • Profit and loss statements
  • Company balance sheets
  • Past tax returns for both yourself and your company
  • Any relevant licenses or permits
  • Disclosure of any outstanding debt
  • Documented collateral

Because Bank of Hope is an SBA preferred lender, we’re pre-authorized to make decisions on behalf of the Small Business Administration without their direct involvement. In turn, we can act swiftly to deliver the funding you need.

Some SBA loan requests are more complex than others, requiring varying levels of analysis and due diligence. However, we aim to complete the process within a few weeks from the initial SBA loan application.

SBA 7(a) loan recipients are provided with ample flexibility in regard to the use of funds, including the opportunity to pay off other debts specific to their small business.

The goal of the Small Business Administration and preferred lenders (like Bank of Hope) is to foster the growth of startups and small companies. Therefore, none of the SBA loans can be used for personal purposes. Nor can they be used for political gains or contributions, paying-off government fines, or purchasing high-risk investments.

The amount which the government guarantees varies from one loan to the next, as well as the specific amount borrowed. For example, an SBA 7(a) Loan of $150,000 or less would be 85% guaranteed, while SBA 7(a) loans that are higher would be 75% guaranteed.

For more information, visit our designated pages for SBA 7(a) Loans SBA 504 Loans, SBA Export Working Capital Program (EWCP), and Bank of Hope EZ Loans / SBA Express Loans.

We invite you to view pages dedicated to SBA 7(a) Loans, SBA 504 Loans, SBA Export Working Capital Program (EWCP), and Bank of Hope EZ Loans / SBA Express Loans to learn more about the particulars of each. Plus, for more guidance, you could read our article about the pros and cons of business loans.

However, the good news is that you don’t have to navigate the complex world of business financing alone. Schedule an appointment to talk with a small business financial expert who can help you determine the optimal path.

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